Sultan Brunei in KL last 2 days and part of Icon business is from Brunei. Will Tun M(M'sia) request Sultan Brunei help increase Icon business activity in Brunei?
The ministry told the Dewan Rakyat today that Petronas will have to continue exploration efforts domestically and abroad in order to ensure Malaysia's fuel supply was sustainable https://www.malaysiakini.com/news/467781
Investors that are hoping for a turnaround of this company result might be better off looking elsewhere. Even though the O&G industry in general has started to turnaround, the same could not be said to the OSV industry. Given the still oversupply environment of vessels, it is highly unlikely that the charter rate and utilisation rate will improve that much which will only means further depressing financials for companies like Icon.
As of Dec 18, the total shareholders equity was a mere RM66.2mil which represent only 7.4% of its paid-up capital. Icon should have actually been already classified as a PN17 company as the shareholder’s equity is way below the 25% threshold level. Not sure why this is not the case.
If you are looking to hedge your portfolio outside of Icon Offshore (due to its weak earnings outlook and risk of being classified as PN17), I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)
MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.6x PE based on FY18 profit of RM166mil. PB is low at only 0.7x BV.
FY19 should deliver another profit growth year to the company. Profit growth will again be driven by the performance of Perodua (via MBMR 22.6% holdings in Perodua) from the still strong sales of new Myvi, sales of SUV Aruz and the introduction of the newly revamp Alza sometime in the 2H19. Aruz which commands a higher margin compared to other models, will help improve the total profit margin of Perodua (which will flow to MBMR’s bottom line as well).
MBMR is expected to achieve a profit of RM200mil in 2019. At the current share price, the company is being valued at only 5.5x which is a lot lower than the industry average of 15x PE. As an example, UMW (another company with exposure to Perodua) is currently trading at a PE multiple of almost 20x.
Princess Icony has a very interesting back ground. So many Prince and White Knights came to the rescue, they came they saw. Unfortunately, they all perish..
Looking forward to see the next knights that will save this Princess.
commonsense, u should know why it is not under PN17.. because Lembaga Tabung Haji and related parties subscribed heavily in IPO at RM1.85....and now only 9...see FGV..and the likes
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Posted by 5354_ > 2019-02-26 04:23 | Report Abuse
Brent crude oil could easily rise into the $70-$75 per barrel trading range in the coming months, Goldman Sach says.
https://www.cnbc.com/2019/02/25/oil-may-soon-hit-75-goldman-warns-but-the-rally-wont-last-long.html