ICON OFFSHORE BERHAD

KLSE (MYR): ICON (5255)

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Last Price

0.10

Today's Change

-0.005 (4.76%)

Day's Change

0.095 - 0.10

Trading Volume

3,236,400


9 people like this.

11,088 comment(s). Last comment by bullmarket1628 10 hours ago

Icon 888

1,617 posts

Posted by Icon 888 > 1 month ago | Report Abuse

Cash is king now

M55555

422 posts

Posted by M55555 > 1 month ago | Report Abuse

Donkey, great stamina will so be appreciated

Icon 888

1,617 posts

Posted by Icon 888 > 1 month ago | Report Abuse

Cash is King now

Posted by anonymousHH > 1 month ago | Report Abuse

Rumour from the market that ICON is selling off their cash cow Jackup rig. Good for the share price?

Icon 888

1,617 posts

Posted by Icon 888 > 1 month ago | Report Abuse

Tunggu crash baru beli la

George99

201 posts

Posted by George99 > 1 month ago | Report Abuse

Mesti up gila nanti...

George99

201 posts

Posted by George99 > 1 month ago | Report Abuse

Tunggu masa shj... ...
Sabar semua...

Mesti limit up......MYR 1.00

M55555

422 posts

Posted by M55555 > 1 month ago | Report Abuse

Walaoeh .. Oil price from $60 to $120 back to $96 . Donkey still a Donkey. No horse here

Icon 888

1,617 posts

Posted by Icon 888 > 1 month ago | Report Abuse

Tunggu crisis mari,, simpan cash

Posted by whistlebower99 > 1 month ago | Report Abuse

FOR NEWBIES

MERIDIAN is the latest high NOSH low price penny stock proposing to do shares consolidation !!!
Announcement dated 2 August 2022

===================
Be careful trading high NOSH low price penny stocks

Directors have power to propose shares consolidation to trim down investor's shareholding by many times and raise more fund via rights issue with free warrants resulting in huge losses to investors.

List of penny stocks with shares consolidation :-

2022 in progress - MERIDIAN, LKL, IMPIANA, FAST, VSOLAR

2022 - YONGTAI, DIGISTA, MTRONIC, AGES, IDMENSN, KANGER, AAX,

BEFORE 2022 - PWORTH, PDZ, LAMBO, PASUKGB, MTOUCHE, SANICHI, VC, TRIVE, VINVEST, ICON, MLAB, NETX,.........

====================
TAYOR, don't be caught in share consolidation exercise

Icon 888

1,617 posts

Posted by Icon 888 > 1 month ago | Report Abuse

Keep cash ya

George99

201 posts

Posted by George99 > 1 month ago | Report Abuse

Waiting it to come... .... MYR 1.00

George99

201 posts

Posted by George99 > 1 month ago | Report Abuse

Up up up......

Mabel

18,530 posts

Posted by Mabel > 1 month ago | Report Abuse

What do factory shutdowns in China, shipping delays in Europe and reduced agricultural output in the U.S. have to do with each other? They are all being caused by severe droughts impacting the world's largest economies. Researchers say the dry spells are partly because of seasonal weather patterns like La Niña, but are also related to consequences of land degradation and climate change.

Snapshot: The Chinese province of Sichuan just announced it would extend industrial power cuts and activate its highest emergency response, impacting a number of global manufacturers like Apple (AAPL), Foxconn (OTCPK:FXCOF), Toyota (TM) and Volkswagen (OTCPK:VWAGY). The vital Yangtze, the longest river in Asia, reached its lowest level on record for August, affecting supply of hydropower and causing widespread shortages. Tesla (TSLA) has even asked the government to help ensure its suppliers have a sufficient amount of electricity, with over a dozen of them currently not able to manufacture at full capacity.

Over in Europe, cargo ships have had to reduce their loads due to critically low levels of the Rhine. The waterway is usually occupied with vessels transporting raw materials to power plants and factories, and Italy has even declared a state of emergency along its important Po River. Separately, agricultural forecasters in the U.S. now expect farmers to lose more than 40% of the cotton crop, while many acres of farmland are being left unplanted because of water shortages. In fact, the U.S. Bureau of Reclamation has announced that states like Arizona and Nevada will have to cut their water allocations by up to 21% next year because of the increasing megadrought in the Southwest.

Go deeper: The situation could drive up energy prices as hydro and nuclear power are reduced given the lower levels of water (that cannot sufficiently cool reactors). Higher transport costs and supply chain snarls could also raise food prices, adding to inflationary forces and squeezing a global trade system that was already under pressure from the coronavirus pandemic.

Meow

Posted by bullmarket1628 > 1 month ago | Report Abuse

Walaoeh, What happened ?
Super damn hot man Hibiscs today !
Now Hibiscs already traded at=>
0.945 (+0.045) (+5.0 %)!

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 1 month ago | Report Abuse

Wow, Amazing !
Now Hibiscs already traded at=>
0.955 (+0.055)(+6.1 %) !

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 1 month ago | Report Abuse

Wow, Fantastics !

Now Hibiscs already traded at=>
0.965 (+0.065)(+7.2%) !



Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 1 month ago | Report Abuse

Wow, Fabolous !

Now Hibiscs already traded at=>
0.98 (+0.08)(+8.9 %) !



Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 1 month ago | Report Abuse

Walaoeh, What happened ?
Super damn hot man ICON today !
Now ICON already traded at=>
0.105 (0.01) (+10.5 %) !

Heng ah, Ong ah, Huat ah !

Mabel

18,530 posts

Posted by Mabel > 1 month ago | Report Abuse

Icon 1H22 results in line

Icon reported stronger YoY results, with both divisions (drilling & OSV) in the black and reporting growth, a positive.

Our estimates are unchanged, on expectation of stronger quarters ahead. Our SOP-based TP (unchanged) equates to 1x PBV, valuing the: (i) JU ops at 0.6x EV/ replacement value (9 sen/shr) and (ii) OSV ops at 0.7x PBV, (7 sen/shr).

Sources: Mabel's Tiger Bank

M55555

422 posts

Posted by M55555 > 1 month ago | Report Abuse

Finally, can let go some of this wooden horse/donkey

madguy

672 posts

Posted by madguy > 1 month ago | Report Abuse

"To recap, Icon Offshore bought the rig, which was then a distressed asset, from ailing Perisai Petroleum Bhd at US$42.54mil (RM177 million) in 2020, when crude oil prices had dived to sub-zero."

"Should the company sell the piece of asset at double the price it had paid, Icon Offshore would be getting roughly US$85 million (RM350 million) — an instant boost to its warchest."

"As at June 30, Icon Offshore’s cash balance was at RM46.15 million against total borrowings of RM297.2 million, of which RM266.85 million were long term liabilities."

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wtf, so base on current ex-rate usd/myr of 4.45 the rig should worth rm378.25mil, if icon manage to sell the rig, company will be in stronger cash balance vs its liabilities, with total cash of 415mil/424.4mil

Posted by bullmarket1628 > 1 month ago | Report Abuse

Icon said to receive offer to sell jack-up rig

Intan Farhana Zainul/
theedgemarkets.com
August 26, 2022 08:30 am +08

https://www.theedgemarkets.com/article/icon-said-receive-offer-sell-jackup-rig

KUALA LUMPUR (Aug 26): Icon Offshore Bhd is said to have received an offer from a prospective foreign buyer to buy a jack-up rig that the company bought cheap two years ago.
Given the sharp rise in prices of jack-up rigs over the past two years, sources say it is likely that the offer price would be substantially higher than what Icon Offshore had paid for at purchase. 
Furthermore, since there is a shortage of oil rigs in the region, the upstream players are willing to pay a premium to get hold of any that are available, the sources said. 
To recap, Icon Offshore bought the rig, which was then a distressed asset, from ailing Perisai Petroleum Bhd at US$42.54mil (RM177 million) in 2020, when crude oil prices had dived to sub-zero. 
It is worth noting that Perisai bought the rig back in 2014 for US$200 million, at the heights of the industry, which saw crude oil prices surge more than US$100 per barrel.
A source said that the potential buyer could be paying substantially higher price than what Icon Offshore paid for the asset two years ago. 
Should the company sell the piece of asset at double the price it had paid, Icon Offshore would be getting roughly US$85 million (RM350 million) — an instant boost to its warchest.   
As at June 30, Icon Offshore’s cash balance was at RM46.15 million against total borrowings of RM297.2 million, of which RM266.85 million were long term liabilities. 
When contacted, Icon Offshore’s managing director Datuk Seri Hadian Hashim reiterated that the company is always on the lookout for potential mergers and acquisitions that can add value to its growth.
“The demand for jack-up rigs, especially in the Middle East, has been on the rise. The rates there are higher than other parts of Asia,” an analyst said.
The jack-up rig asset was a game-changer for Icon Offshore, which has been in the low margins business of chartering offshore marine vessels (OSVs).
The drilling business, including chartering of oil rigs, has boosted Icon Offshore’s profitability, as demand increases following the spike in crude oil prices that started in 2021.
For the second quarter ended June 30, 2022, Icon Offshore’s drilling business contributed almost 45% of its profits and 37% of its revenue.
During the quarter under review, the company’s net profit halved to RM7.31 million from RM14.68 million a year earlier, due to lower gross profit contribution from its OSV segment.
It was reported that Icon Offshore is also looking to buy a maintenance, repair and operations business to diversify its income and boost its profitability.

Kathy Fong

Posted by bullmarket1628 > 1 month ago | Report Abuse

Walaoeh, Superb good news from ICON !

ICON going to sell jack-up rig for
US$85 million (RM350 million), making hugh profits of US$42.46million (RM174.8 million)
in just within 2 years only !

P/S: Icon Offshore bought the rig from ailing Perisai Petroleum Bhd at US$42.54mil (RM177 million) in 2020 (Perisai bought the rig back in 2014 for US$200 million)

Like that next Monday ICON going to limit up to closed at => 0.415 (+0.30) (+260.9 %)

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 1 month ago | Report Abuse

Walaoeh, Superb good news from ICON !

ICON going to sell jack-up rig for
US$85 million (RM350 million), making hugh profits of US$42.46million (RM174.8 million)
in just within 2 years only !

P/S: Icon Offshore bought the rig from ailing Perisai Petroleum Bhd at US$42.54mil (RM177 million) in 2020 (Perisai bought the rig back in 2014 for US$200 million)

Like that next Monday ICON going to limit up to closed at => 0.415 (+0.30) (+260.9 %)
already liao lah !

Heng ah, Ong ah, Huat ah !

George99

201 posts

Posted by George99 > 1 month ago | Report Abuse

Hope reach to MYR 1.00 this 2 weeks.

madguy

672 posts

Posted by madguy > 1 month ago | Report Abuse

@George99 wah can go so that high price or not ?? lol

madguy

672 posts

Posted by madguy > 1 month ago | Report Abuse

come on la ... last min pls eat up hehehe

k3nthiew

463 posts

Posted by k3nthiew > 4 weeks ago | Report Abuse

WOW!! Good job Icon!! 185m coming!! EPS 7c!!

jagapasar

26 posts

Posted by jagapasar > 4 weeks ago | Report Abuse

WOW.....

Shines

1,922 posts

Posted by Shines > 4 weeks ago | Report Abuse

Yes, but shares price doesnt follow how come ah?

madguy

672 posts

Posted by madguy > 3 weeks ago | Report Abuse

@Shines liekly no ppl goreng

Mabel

18,530 posts

Posted by Mabel > 3 weeks ago | Report Abuse

Exits drilling biz, enters MRO?

Icon is exiting the JU biz and will make a huge gain from this sale. Shareholders would likely seek for a special DPS while management will need to find a better business fit (post sale of its JU asset). Meeting these two expectations would be key catalysts. Pending clarity, our SOP-based TP is unchanged; at 1x PBV, valuing the: (i) JU ops at 0.6x EV/ replacement value (9 sen/shr) and (ii) OSV ops at 0.7x PBV, (7 sen/shr).

Shines

1,922 posts

Posted by Shines > 3 weeks ago | Report Abuse

Not goreng also should move in tandem the the gain per share ma

bestoobest

100 posts

Posted by bestoobest > 3 weeks ago | Report Abuse

how come share not going up why why why

George99

201 posts

Posted by George99 > 3 weeks ago | Report Abuse

Why not yet reach MYR 1.00.... limit up 3 x la..

Posted by bullmarket1628 > 2 weeks ago | Report Abuse

Walaoeh, oil price continue it’s uptrend !
Brent closed at=> $88.56 +0.56 +0.64 %

Like that today ICON will be limit up already liao lah !

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 2 weeks ago | Report Abuse

Walaoeh, What happened ?
Super damn hot man Velesto today !
Now Velesto already traded at=>
0.105 (+0.02) (+23.5 %) !

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 2 weeks ago | Report Abuse

Strong turnaround in second half for Velesto, says Affin Hwang
By Azanis Shahila Aman
September 12, 2022 @ 9:47am

https://www.nst.com.my/amp/business/2022/09/830502/strong-turnaround-second-half-velesto-says-affin-hwang

KUALA LUMPUR: Affin Hwang Capital expects a strong second half of 2022 (2H22) profit turnaround for Velesto Energy Bhd on the back of a higher capacity utilisation.
The research house said the drilling market outlook had turned more favourable compared to a quarter ago with demand and charter rates on the rise. 

Barring any unforeseen disruptions, it said Velesto should end 2022 with a full-year 59 per cent utilisation. 
"Management is also sticking to its bullish tone as it expects utilisation to rise close to 80 per cent in 2023 from our existing 65 per cent assumption.

"Velesto has locked in roughly 18 per cent utilisation so far, with most of the potential contracts still under negotiation under Petronas' umbrella package," it said.
Meanwhile, the firm said the estimated higher 72 per cent rig utilisation in 2H22, above Velesto's 60 per cent breakeven level should lead to a strong profit turnaround and narrow 2022 losses significantly. 

It said 2023 was shaping up to be a strong recovery year driven by a recovery in both rig demand and charter rates. 
"We reaffirm our Buy rating and target price of 11 sen on Velesto. 
"We believe market expectation on Velesto has bottomed and downside on its share price appears limited. 
"We see value emerging and believe that the current share price has not factored in the improving drilling market outlook," it added.

George99

201 posts

Posted by George99 > 2 weeks ago | Report Abuse

Valeatro 2022 still in losses bro

IcOn profit more than 186 mil already... up up up.. limit up 3 x. To Myr 1.00..

Shines

1,922 posts

Posted by Shines > 1 week ago | Report Abuse

Can shoot to 20 sen alsi good no need to rm1

madguy

672 posts

Posted by madguy > 1 week ago | Report Abuse

@Shines yeah lol ... x1.5 or x2 of nta ok too

George99

201 posts

Posted by George99 > 1 week ago | Report Abuse

Go go myr 1.00... limit up... yA......

Posted by Abdulazizba > 1 week ago | Report Abuse

ICON OFFSHORE will be a positive NET CASH company ...https://www.theedgemarkets.com/article/icon-offshore-pivots-assetlight-strategy-future-growth

Icon 888

1,617 posts

Posted by Icon 888 > 4 days ago | Report Abuse

Cash is King,, wait crisis

Posted by bullmarket1628 > 2 days ago | Report Abuse

Tommorrow once the Donbast referendum being passed, then Russia will annexed those 4 Donbast regions from Ukraine, then will start war between Russia and Europe, then oil price will spike up to above USD $120 again !

Then all the O & G counters will spike up to sky high especially ICON's price will break above 30 cents !

Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 1 day ago | Report Abuse

Russia's war in Ukraine is at a dangerous tipping point
Analysis by Nick Paton Walsh, CNN
Updated 1:49 AM EDT, Tue September 27, 2022

https://amp.cnn.com/cnn/2022/09/27/europe/putin-binary-moment-russia-ukraine-war-tipping-analysis-intl/index.html

Kramatorsk, Ukraine(CNN) The chaos of the past week might be incorrectly comforting. Despite Russia's continued disastrous handling of its war of choice in Ukraine, the conflict's most dangerous moment may be nearing.
At some point this week, the Kremlin will likely declare that "sham" referendums in four partially occupied areas of Ukraine have delivered a mandate for their swift assimilation into what Moscow calls Russian territory…

Posted by bullmarket1628 > 10 hours ago | Report Abuse

Latest news from CNN…
A war between Russia & USA/Europe will be ignited anytime from now if the ‘Sham’ referendum results is in favour to russia (of course is a sure guranteed passed results created by Russia), So, since russia will use this results by annexed 4 Ukraine’s regions and as an excuse for them to publicly giving mandate to them to sending millions of troops to based the stations permanently into this 4 regions,
then a new World War III cannot be avoid and will happened anytime from now already !

Then the Oil price definitely will immediately shooting up to sky high !

And then all the O & G counters definitely will follow to spike up like mad already !

Posted by bullmarket1628 > 10 hours ago | Report Abuse

Walaoeh, oil price spike up like mad !
Brent closed at=> $86.26 +2.21 +2.63 %

Like that today ICON will be limit up already liao lah !

Heng ah, Ong ah, Huat ah !

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