Posted by Hunter Cho > 2017-04-28 15:25 | Report Abuse

good catch...

Posted by rijack88 > 2017-04-28 15:30 | Report Abuse

just bought abit, pass experience this counter always one day show then drop back 63-64!

Posted by JoshuaMS7 > 2017-04-28 15:34 | Report Abuse

this time should break higher if close at 0.680 and above!! TP 0.800

Posted by Hunter Cho > 2017-04-28 15:34 | Report Abuse

actually i truck load from this morning don't know about tomorrow i can jump if things change..

Posted by oasischeah > 2017-04-28 16:20 | Report Abuse

Sell if you still make money. Don't take risk on this counter. Cash is king. Monday is holiday.

Posted by Hunter Cho > 2017-04-28 16:28 | Report Abuse

15 mins to decide to sell or to buy more..

Posted by rijack88 > 2017-04-28 16:39 | Report Abuse

buy buy buy!

Posted by Hunter Cho > 2017-04-28 16:40 | Report Abuse

someone needs to take out 0.69 for the price to move higher

Posted by labu83 > 2017-04-28 16:40 | Report Abuse

Tecnical will up more next week,
Stay tune,

Posted by labu83 > 2017-04-28 16:41 | Report Abuse

Buy now still cheap,tp above 80 cent

Posted by JoshuaMS7 > 2017-04-28 16:45 | Report Abuse

think umwog selling icon shares but someone buy back the shares. So umwog and icon are going up tgt now

Posted by rijack88 > 2017-04-28 16:46 | Report Abuse

u all can help to take out some.hahaha

Posted by Hunter Cho > 2017-04-28 16:48 | Report Abuse

you might be right

Posted by Hunter Cho > 2017-04-28 16:53 | Report Abuse

that is 900k to take out

Posted by Hunter Cho > 2017-04-28 16:56 | Report Abuse

no more time

Posted by Hunter Cho > 2017-04-28 16:57 | Report Abuse

good price action today

Posted by labu83 > 2017-04-28 17:27 | Report Abuse

Crunch time for UMW Oil & Gas: The board of UMW Oil & Gas Corp Bhd (UMW-OG) is expected to decide today on the proposed acquisition of Icon Offshore Bhd and Orkim Sdn Bhd amid differing opinions on the valuations of the two assets. The group’s board is also expected to weigh in on whether the assets that are on the table would be able to secure enough contracts from national oil company Petroliam Nasional Bhd (Petronas) to ensure its high utilisation. - StarBiz

Posted by labu83 > 2017-04-28 17:29 | Report Abuse

Bagi suspended la senang Bos,hehe

Posted by offshore > 2017-04-28 18:12 | Report Abuse

PROPOSED DISPOSAL OF FIFTY PERCENT (50%) OWNERSHIP OF NAGA 1 BY UMW DRILLING CO. LTD TO JDC PANAMA, INC.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5413977

Posted by limch > 2017-04-28 21:00 | Report Abuse

Agree why? Could be Star news fake 1?

Posted by Rowie > Apr 28, 2017 08:52 PM | Report Abuse
Why no disclosure from board of directors meeting regarding merger?

Posted by hhiichan > 2017-04-28 21:19 | Report Abuse

which mean following tuesday will be a huge drop⚠⚠⚠

Posted by labu83 > 2017-04-28 22:27 | Report Abuse

Why drop?
Should maintain up

Posted by offshore > 2017-04-29 10:01 | Report Abuse

If valuation is too high, then have to negotiate with Ekuinas to reduce the price. Don't think there is anything to announce at the moment until there is an outcome with Ekuinas on revised pricing.

Posted by limch > 2017-04-29 10:17 | Report Abuse

Don't see any news on Bursa announcement this week but Star news caused fluctuation of both Icon and UMW OG share price.

Posted by offshore > Apr 29, 2017 10:01 AM | Report Abuse
If valuation is too high, then have to negotiate with Ekuinas to reduce the price. Don't think there is anything to announce at the moment until there is an outcome with Ekuinas on revised pricing.

Posted by limch > 2017-04-29 10:31 | Report Abuse

If check more details UMWOG seem already own ICON 42.28% as attached web link. Can those who know more clarify further?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5326965

Posted by limch > 2017-04-29 11:26 | Report Abuse

If merger fail who has power to object? EPF, minority shareholders or who? How they want to object? Not in EGM?

Posted by Rowie > Apr 29, 2017 10:35 AM | Report Abuse
Lim........deemed interest cos on impending deal announced on 19 Jan. Don't read too much into it

Posted by limch > 2017-04-29 11:55 | Report Abuse

ANALYSIS OF SHAREHOLDINGS(ICON 2016 AR)
AS AT 30 MARCH 2017
THIRTY (30) LARGEST SECURITIES ACCOUNT HOLDERS

4. CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
- EMPLOYEES PROVIDENT FUND BOARD
32,839,600 2.79
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5412837

Posted by Cikam > 2017-04-29 13:44 | Report Abuse

The rig has been aquired sinced 2005....sudah boleh buang pun..if umw need to do all over inspection..very expensive

Posted by offshore > 2017-04-29 15:47 | Report Abuse

Rowie, whatever I know I have already posted. If the meeting really did happen, they still need to go back to Ekuinas for negotiation. Till then, nothing to announce.

Cikam, Naga 1 is an old rig made in the 60s. Even then, the disposal price is very low because no matter how old that rig is, it is a working rig. Furthermore, the rig has gone to Japan to do some upgrade 5 years ago. Are they so desperate for money that they have to sell rig at such deep discount?

Posted by limch > 2017-04-29 16:28 | Report Abuse

UMW-OG selling stake in NAGA 1 rig at huge loss
http://www.theedgemarkets.com/article/umw-og-selling-stake-naga-1-rig-huge-loss

Posted by stockman1 > 2017-04-29 17:03 | Report Abuse

Rowie I see stockmanmy posts everywhere in i3 except here. Can you answer why? He already cut loss here?

Posted by stockmanmy > 2017-04-29 17:10 | Report Abuse

I have no opinion to post at this stage. Up or down does not concern me ...I find technology shares more interesting


stockman1 > Apr 29, 2017 05:03 PM | Report Abuse

Rowie I see stockmanmy posts everywhere in i3 except here. Can you answer why? He already cut loss here?

Posted by offshore > 2017-04-29 17:33 | Report Abuse

The rig is not scrap metal. It is a working rig. If no job can sell off the rig, are they going to sell Naga 3 and 4 as well since it has no job now?

Posted by stockman1 > 2017-04-29 17:35 | Report Abuse

Why selling rig is the news? How about merger?

Posted by offshore > Apr 29, 2017 05:33 PM | Report Abuse
The rig is not scrap metal. It is a working rig. If no job can sell off the rig, are they going to sell Naga 3 and 4 as well since it has no job now?

Posted by roslaom > 2017-04-29 20:49 | Report Abuse

Umw ada 8 nagas.

Posted by offshore > 2017-04-29 20:55 | Report Abuse

As I said previously, Petronas don't have work for all their rigs. I believe they are in thin margin now. One or two idling rigs are enough to wipe out whatever profit they can get from working rigs. As I have also said, this share is short term buy long term sell. Look back my previous posts. If you are holding this share hoping it will one day fly back to RM2.80 or even RM4.40, unlikely to happen. Even if oil price reach USD80, it will take some time for the day rate to climb due to rig over supply. It will also definitely take some time for this company to get back to positive retained earnings.

Posted by offshore > 2017-04-29 22:07 | Report Abuse

That statement that they need 50%-60% rigs working to show profit was probably made some time ago and things have changed a lot since then. There is no rig oversupply here but the worldwide rig oversupply will still drag the day rate and they will still need to match that day rate when contracting with Petronas. Your investment strategy seems to suggest you know that this merger will fail.

Posted by anticonman > 2017-04-29 22:13 | Report Abuse

Selling rig at USD 15.35 million loss. Not in financial trouble(bankrupt?)? Why cut loss?
http://www.theedgemarkets.com/article/umw-og-selling-stake-naga-1-rig-huge-loss

Posted by stockmanmy > 2017-04-29 22:56 | Report Abuse

If you cannot see KYY is a maverick. You will not see me as a Maverick/

But we are The Mevericks.






by Rowie > Apr 29, 2017 06:15 PM | Report Abuse

Stockman, I have no interest wherever Stockmanmy is or says, I don't benefit anything from his opinion.

Posted by Andrew62 > 2017-05-01 19:11 | Report Abuse

Branding is name of the game of businesses.If UMW cheat their shareholders they will not be able to sell Toyota cars let alone thoothbrushes.

Posted by Andrew62 > 2017-05-01 19:14 | Report Abuse

BURSA did not give them a chance to dilute their interest in UMW OG to change the name.

Posted by Andrew62 > 2017-05-01 19:22 | Report Abuse

UMW cannot use its' Trademark to con shareholders.
Inform this to your relatives and friends and potential Toyota car buyers.

Posted by Andrew62 > 2017-05-01 20:38 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/05/19/umw-sets-rm750m-as-capex-for-aviation-tie-up-with-rolls-royce/

Posted by Andrew62 > 2017-05-01 20:42 | Report Abuse

UMW cannot make one business work.

Posted by labu83 > 2017-05-01 21:10 | Report Abuse

Election Lor,mesti tolong punya,Pos,drb also loses,Pos from rm2.2 now rm5 above ,drb rm80 Sen now 1.45 maybe 1.8,Maybank from rm7.2 now rm9.6,many more counter up up n up,anything can happen in mood election,
If u look more bad news n price still Low,U should focus n buy before price Super rocket,oil sure come back again 80-100 usd,no more Ron 95 below rm2 this year,experience will teach u,

Posted by labu83 > 2017-05-01 21:11 | Report Abuse

Call warrant my focus now in Mei,

Posted by Andrew62 > 2017-05-01 22:09 | Report Abuse

labu83 I agree with you as far as UMW
BUY TOYOTA LAST....

Posted by Andrew62 > 2017-05-01 22:12 | Report Abuse

UMW tahu buat RR engine?

Posted by labu83 > 2017-05-01 23:39 | Report Abuse

Market will good as Long as sector finance now kaboom,now tender MRT will announce Mei June,construction n steel counter will make magical,
Good luck

Posted by i3investorforum > 2017-05-02 00:28 | Report Abuse

While our people look at offshore/mining in open seas, others in US and Canada are doing inland open cast mining to get oil from oil shale/sands.