This was due to under-provision of tax at its subsidiaries in prior years totalling MYR5m. Operationally, Icon reported higher OSV utilisation, up 7ppts QoQ to 57.5% in 3Q19, reflecting improving offshore activities.
OSV market slowly nursing back to health. Maybank remain positive on Icon’s debt-restructuring proposal to recapitalise its balance sheet. Successful implementation should be a re-rating catalyst. While the OSV market has bottomed, with utilisation rising, an uptick in DCR could be another catalyst. DCR could follow in the footsteps of the recovery in offshore drilling soon.
Wow, Ho Sei Liao... Amazing, unbelievealble ! Such a pretty profitable QR results ! ICON, believe in yourself ! You can do it ! I'm confident that after the year of 2019, the glory years will belongs to you ! Keep it up ICON !
somemore scomi's corporate exercise is not as awful as Icon 03/12/2019 2:38 PM
I'm an Investor. I have a number of holding in KLSE and Nasdaq. Here's what I have already..
Industry No of Companies
Mabel Airlines 2 Mabel Automobiles 2 Mabel Media 3 Mabel Steels 3 Mabel Construction 3 Mabel Banking 4 Mabel Plantation 4 Mabel Telecommunication 4 Mabel Properties 5 Mabel Real Estates 7 Mabel Technology 8 Mabel Energy 10
Total 55
The Top 3 Contributors are:
1. Technology 2. Plantation 3. Energy
As you know KLCI is down about 10 % since early this year. My average margin is a very healthy double digit. This mean my selection has outperform the KLCI.
Of course I have many expensive shares in my collection like SERBA DINAMIK, FGV, Sime Darby Plantation, Sarawak Plantation, TaaNN, TM, Axiata, DiGi, MyeG, Greatec, CIMB, BIMB, KLCCP IGBREIT, SUNREIT, PAVREIT, YTLREIT, CMTT, MQREIT, Air Asia, Sime Darby, CCB, Sunway , etc etc
These typical "expensive" stocks not many retailers can buy. Only the big boys play. If foreign funds don't come in to push, the expensive stocks cannot move. FF has been selling, hence KLCI continue to trend lower.
The only ones moving on Bursa are penny stocks since everyone can play. This is the sad sad state of our local market.
FYI, my Armada is giving me 300% return when it was a penny 15 and my KNM is giving 500% return, Velesto is giving me 200% return. Similarly with current prevailing price, ICON can easily gives another 200% return. Maybank usually are more stringent in their evaluation. So 9 is very pessimistic. Beside I con is back by very strong share holders. I have confident in this company. They just change their CEO. This is why things are moving..
Icon recently got shareholders’ nod to consolidate its shares and to make a cash call involving the issuance of 175 rights shares for every consolidated share held, which works out to a seven-for-two issuance at six sen apiece (pre-share consolidation) or RM3 for every consolidated rights share.
The 1st already reach high but still have the potential to climb further to RM 5-6 with little downward risk before the recent share splits, bonus issues and free warrants exercise.
The 2nd is in uptrend/to rebound mode, higher upside and medium downside risk
The 3rd is going to rebound later (might be 20/21), smaller upside now, but low downside. Just to add on Sapnrg. The team in Sapnrg believe Sapnrg is a Mini Petronas? Here’s the best part, Since this company are backed by Strong Shareholders, if G can pay RM10.7 Billion to Tabung Haji, G might pay RM22 Billion for Sapnrg later for Sapura to take over Petronas for RM1.00 if simmilar situation happens to TH. Anything can happen in Malaysia. I put Icon in this tier since Icon is backed by strong shareholders..
The 4th is high risk. For Barakah, I have taken out my Long-Term Investor hat and replace it with Trader’s Hat since the market capitalisation is around RM25 million and it has more liabilities than assets.
Based on information from the grape vine, what's in store for Barakah after the coming AGM end of this year is going to be interesting. They are finally taking measures to lift themselves out of financial distress state. The corporate restructuring exercise will see Barakah in general, adopting measures such as shares consolidation, issuing loan stock, rights issue & warrants. The exercise will see Barakah reborn into a debt-free company. Meaning, we have one less challenge ahead. To me, it’s a good start for 2020...
Once this is announced this stock will rocket to 0. 08....that’s 400% return from current price. This is even better than my Mercedes Benz's Cycle & Carriage last month exercise which is only 70% when they decided to take it private.
For Barakah and Scomies, I have applied Warren Warren Buffett Sifu (Ben Graham) Strategy in this engagements which is a "cigar butt" technique. You can google yourself what this strategy means.
No Sales. I have decided to limit it to 7 for Real Estates.
I'm actually quite happy with my current selections. The combines returns is about 13% which is great and you don't need to worry about these counters. I only visit them every quarters just to check my Dividend, Bonus and Distribution. My current Top Performer is YTL with 23% return. Previously it was IGB...
Pak Mael duduk di Jalan Gasing Anak nya yang bongsu bernama Mabel Dengan untung window dressing Bukan saja pagar, satu rumah perabut kita tukar ke stainless steel
From what I understand, markets have dedicated middlemen called Market Makers who are responsible to make sure that there is always someone to buy or sell; this ensures that all instruments have sufficient liquidity. Market Makers may decide to lower their bid on a stock based on a high number of sellers, or raise their ask for a high number of buyers.
During an investor rush to buy or sell an instrument (perhaps in response to a news release), it's possible for the Market Maker to accumulate or distribute a large number of shares, without end-investors like you or me being involved on both sides of the same transaction.
Hence, if we are buying into such an illiquid stock in the first place I don't think we would have any investment strategy, we are just putting our at as a trader and trust our animal instinct.
As a rule of thumb, it is always not advisable to buy intio any stocks that is below 100,000 volumes. Fortunately, this is not the case of Icon. The average trading volume for the last 4 weeks is 71 times bigger than the minimal threshold.
So I recon these Market Maker are regulating this stock to keep it warm. Just to give you a flavor, today TDM is on P1 among the Plantation counters. It even beats all the expensive Plantation Stocks. You know why there's is a high interest in TDM?. It's is because of ECRL. ECRL will passed through TDM Plantation as it cruises 160 km/h.
I have been holding TDM since early this year and today the price has almost double. So it's just a matter of time when the Market Maker will starts goreng this stock again. All it needs is just one good new to spike it up again.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 535 views | 3 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 12777 views | 11 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
CharlesT
14,793 posts
Posted by CharlesT > 2019-11-24 10:37 | Report Abuse
Having said so chances of their goreng is high so u shall make some handsome gain i think