Posted by Losetiamtiam > 2020-01-22 18:31 | Report Abuse

This Is madness, who’s still buying at this price ? If i am the largest shareholder I will sell all the share at this price wakakaka

Posted by Shareview123 > 2020-01-22 18:54 | Report Abuse

The main shareholders have maximum of 23 millions shares as at today because the right issue shares have not been credited to the subscribers. The main shareholders may have bought up to 0.24. Along the way up, they can buy and sell back to subsequent retailer buyers, with some net buy or net sell.
Those retailers who have bought today are not entitled to the right issue forms.
They can distribute the shares back to the retail buyers and their main purpose is to distribute 6 Forms OR to the retailers.

Posted by Shareview123 > 2020-01-22 19:04 | Report Abuse

Out of the 23 millions shares, let say all retail buyers are holding 5 millions only, and the main shareholders buy all the shares at average of 0.30, it means that they paid only 5 millions x 0.30 = 1.50 million.
If the main shareholders can sell their Forms OR at average of 0.10, they can easily make 100 millions ( 0.1 x 1 billion).

Posted by Lai_1212 > 2020-01-22 19:07 | Report Abuse

Shareview123 The buying in share price is based on today's closing price which is 0.42 plus 10 bids, it becomes 0.47.

'Share price' you mean is the open price on 24th Jan?

Posted by Shareview123 > 2020-01-22 19:13 | Report Abuse

Share price is today's closing price which is 0.42,
and for those who have over sold or short sell and didn't cover back, they have to pay a premium of 10 bids to buy back the shares for the delivery.

Posted by Harold Huong > 2020-01-22 19:15 | Report Abuse

Crazy Crazy Crazy counter

Posted by sylvester89 > 2020-01-22 19:16 | Report Abuse

I am quite confuse....is there anyone can explain to me how the this affected to me? when the share went to consolidation?

My re-miser told me a example : Let's say you are holding 1,000 share divide by 50 so end up you will get 20 share back only.

So my question is how they know the price that you need to subscribe from the right share back to mother share? of RM 210.00

My another question is how they figure out that you will get 2000 right share?

The price state down is RM 0.105 per share. so i am wondering how they get the 2000 right issue share from us?

Posted by mazhard > 2020-01-22 19:30 | Report Abuse

i the one who had oversold...has to buy back 7900 shares at the price 0.4...price close at 0.415

according to remiser...the buy back actually not worth any cent in my account

Posted by Lai_1212 > 2020-01-22 19:37 | Report Abuse

sylvester89, when u buy 1000 stock, after Icon do consolidation on their stock price, they reduce the column from 50 to 1 share. So, from 1000, now, after consolidation which started today, you have (1000/50) share which is 20 shares.

After 24th Jan, when they issue the right, they will issue 1:100 shares, that's why you will have 2000 shares.
Rm0.105 is the price if you want to exercise the warrant. That's what I understand

Posted by Shareview123 > 2020-01-22 19:37 | Report Abuse

Sorry, today closing price 0.415, so plus 10 bids premium become 0.415 + ( 0.005 x 10 bids)
= 0.465 for buying price.

Posted by roslaom > 2020-01-22 19:38 | Report Abuse

Buy 1000000 @ 0.04sen= rm 40,000
Consolidate 50 to 1 share becomes 20,000
20,000 x 0.42 current price= rm 8,400
Realised loss = 40k - 8.4k = 31.6k

Right issue 20,000x 100= 2,000,000
If buy, 2,000,000x0.105 to pay rm210,000.
They give u free warrant 1 every 4 subscribe=500,000

Just replace number with shares u have.

Posted by Mabel > 2020-01-22 19:42 | Report Abuse

Brilliantly put roslaom!

Does anyone knows what's the expected price for the free warrant?

Posted by Shareview123 > 2020-01-22 19:45 | Report Abuse

Sylvester, if you have 1000 Shares before ex date for consolidation, after consolidation you have only 20 shares left ( 1000 ÷ 50 = 20).
You are entitled to subscribe to the right issue at the ratio of 100 for 1, means you are entitled to subscribe 2000 shares at 0.105, and you have to pay RM 210 ( 0.105 x 2000 shares ). You are alfo entitled to free warrant 500 units ( 2000 ÷ 4).

Posted by CharlesT > 2020-01-22 19:45 | Report Abuse

Now shares ard 20m+ can goreng sky high

2B+ OR coming can goreng how high??

Posted by CharlesT > 2020-01-22 19:50 | Report Abuse

I also very curious to see what kind of price for OR on fri..

C whether the reputable boss wil let u make money n laugh all the way to bank..

Pray

Posted by supertrader888 > 2020-01-22 20:01 | Report Abuse

Tomorrow and Friday will keep going up... current 0.42c.. the OR value at 0.315 haven’t plus warrant yet...hoot !!!!

Posted by CharlesT > 2020-01-22 20:02 | Report Abuse

Somemore i think the co also issue 1B+ shares to pay some bank loans..

Eventually it will be a 5B+ shares co...after the whole exercise is completed n all the warrants r being converted..

Posted by Shareview123 > 2020-01-22 20:02 | Report Abuse

If the main shareholders want to maximise their profits, they may slowly press down the price to around 0.20 - 0.24 before the closing date for the subscription of rights issue so that retailers will take up the rights., then before the right issue shares credited to the retailers Cds, the price may drop further.

Posted by CharlesT > 2020-01-22 20:13 | Report Abuse

Now can goreng to the moon if they want

Eventually has to come down to 0.10+ upon listing of new shares in mac

Posted by ryong92 > 2020-01-22 20:17 | Report Abuse

Have to goreng until 1.75 if you no money to subscribe your right Issue

Posted by 5354_ > 2020-01-22 20:52 | Report Abuse

If read i3 postings not every1 sell?

Lai_1212 Everyone buying but no one sell aldy?
22/01/2020 5:18 PM

Posted by ECGC > 2020-01-22 21:35 | Report Abuse

Today is ex date..tommorow price will adjusted right? If today, close Rm0.42, tommorow 0.42x50=Rm2.10....
If today you have 1000 shares buy at Rm0.42, cost is RM42.00. So tommorow only can sell 20 unit shares (1000/50)....even in system still appear 1000 shares, but broker will allowed to sell 20 shares.
22/1/20 Close RM0.42, shares in hand 1000=Value RM42.00
23/1/2020 Opening RM2.10, shares in hand 1000 but only can sell 20 shares=Value RM42.00

Posted by ECGC > 2020-01-22 21:41 | Report Abuse

For example, if Mr X owns or purchases 5000 ICON shares on cum basis on 21 January 2020, his CDS account would still show 5000 ICON shares until 23 January 2020. However, as a results of the above Share Consolidation exercise, Mr X’s 5000 ICON shares in his CDS account will be adjusted to 100 ICON shares on the night of 23 January 2020 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 ICON shares on or after the Ex-date i.e. from 22 January 2020 onwards.

Posted by Jacky Lim Hung Sheng > 2020-01-22 21:44 | Report Abuse

Sorry for asking, those who bought before the entitlement date will be entitled the subscription rights which could be sold on the open market on 24th Jan right? Someone please enlighten me.

Posted by TCapitalGroup > 2020-01-22 22:04 | Report Abuse

https://www.facebook.com/1000453963466645/posts/1466062053572498/
【ICON: 天下有白吃的午餐吗？】

Posted by sylvester89 > 2020-01-22 22:50 | Report Abuse

Lai_1212: I see thanks for the advise . by the way when I can get the price of right warrant share? not 23 jan?

Posted by tkl88 > 2020-01-22 22:52 | Report Abuse

Bank Negara cuts OPR to 2.75pct as pre-emptive measure
JANUARY 22, 2020 @ 4:13PM
BY BERNAMA
https://www.google.com/amp/s/www.nst.com.my/node/558815/amp

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) has decided to reduce the Overnight Policy Rate (OPR) to 2.75 per cent from 3.0 per cent as a pre-emptive measure to secure improving growth trajectory amid price stability.
It said downside risks remain due to geopolitical tensions and policy uncertainties in a number of countries, although monetary easing across major economies in the second half of 2019 has helped ease financial conditions and is expected to continue to support economic activity.
“This could cause a resurgence of financial market volatility and weigh on the global growth outlook,” BNM said in its first Monetary Policy Statement for the year here, today.
Following the reduction in the OPR, the ceiling and floor rates of the corridor of it were correspondingly reduced to 3.00 per cent and 2.50 per cent, respectively.
For Malaysia’s economy, the central bank said the latest indicators and supply disruptions in commodity-related sectors point to the moderate expansion of economic activities in the fourth quarter.
“For 2019, growth will be within the projected range, while for 2020, growth is expected to gradually improve, with continued support from household spending and better export performance.
“Overall investment activity is expected to record a modest recovery, underpinned by ongoing andnew projects, both in the public and private sectors,” it added.
However, downside risks to growth remained and these include uncertainty from various trade negotiations, geopolitical risks, weaker-than-expected growth of major trade partners, heightened volatility in financial markets, and domestic factors that include weakness in commodity-related sectors and delays in the implementation of projects.
Headline inflation is expected to average higher this year from 0.7 per cent in 2019 but remains modest.
“The trajectory of headline inflation will be dependent on global oil and commodity price developmentsand the timing of the lifting of the domestic retail fuel price ceilings.
“Underlying inflation is expected to remain broadly stable, reflecting the continued expansion in economic activity and the absence of strong demand pressures,” it said.

Posted by sylvester89 > 2020-01-22 22:55 | Report Abuse

Shareview123: What do you mean by this? You are also entitled to free warrant 500 units ( 2000 ÷ 4). You mean after I subscribe the RI? for RM210 then I will have free 500 warrant unit as a mother share or what?

After the the share consolidate from 1000 to 20 means I have 20 unit of mother share and I need to subscribe the RI of RM 210 to make it from 20 Mother share * 100 RI to mother share am i right? so after that I will get 2000 mother share right?

Posted by Shareview123 > 2020-01-22 23:22 | Report Abuse

Sylvester, if you have 1000 Shares, after consolidation 50 become 1, you will only have 20 shares. If you subscribe the right issue of 2000 shares at 0.105, ultimately you will have 20 shares + 2000 shares + 500 free warrants.
The only 8 is the 2000 shares and 500 free warrants will only be credited to your Cds account sometime after 10 Feb 2020.

Posted by Shareview123 > 2020-01-22 23:23 | Report Abuse

Should be the only thing is....

Posted by sylvester89 > 2020-01-22 23:33 | Report Abuse

Shareview123 : Thanks for the info and advise sorry ya I am seriously first time encounter this kind of issue. :(

By the way what is the meaning of (The only 8)?

My remiser never tell me so many things till i call up but still not really understand his explain by the way this kind of remiser never notifies their customer seriously is very bad service.

Yeah...what should i do if i want to exercised right issue or warrant? I hear they say need bank draft and etc need stamp and courier and he never told me what company name i need to write in the bank draft.

I am totally lost in my mind

Posted by sylvester89 > 2020-01-22 23:36 | Report Abuse

Where to i get the right issue form and just want to check it out the cds account means my HLEbroking account? so that i could see it at my account current position?

Posted by Shareview123 > 2020-01-22 23:48 | Report Abuse

Sylvester, the Shares Registrar will send the right issue form to you. If didn't receive, you may have to ask for the help from your remisier, or you can search WWW.BURSA MALAYSIA. COM and download from the website.
The are some terms and conditions written on the right issue form, like you need to buy bank draft, stem hasil RM 10, fill up the form, write your name address. Cds number etc on the reverse side of the bank draft.

Posted by roslaom > 2020-01-23 00:38 | Report Abuse

Icon rights is renounceable. U can sell from 24/1 to 3/2. After that no more. 20/2 subscribed rights listed as ordinary icon shares.

icon rights could be rm 0.005 to 0.01 only.

Posted by Daily8 > 2020-01-23 00:53 | Report Abuse

roslaom Buy 1000000 @ 0.04sen= rm 40,000
Consolidate 50 to 1 share becomes 20,000
20,000 x 0.42 current price= rm 8,400
Realised loss = 40k - 8.4k = 31.6k

Right issue 20,000x 100= 2,000,000
If buy, 2,000,000x0.105 to pay rm210,000.
They give u free warrant 1 every 4 subscribe=500,000

Just replace number with shares u have.
22/01/2020 7:38 PM

a sudden realised loss of 31.6k because of the consolidation? wah scary

Posted by agate > 2020-01-23 00:53 | Report Abuse

thanks to all...pain or pleasure...is a game

Posted by michaelsc93 > 2020-01-23 01:51 | Report Abuse

if Buy on 22/1 and sell back all in same day, is it also oversold? or only buy before ex-date and sell all today consider oversold?

Posted by Emmalim > 2020-01-23 03:56 | Report Abuse

Buy on 22/1 and sell same day is NOT oversold. Buy before ex-date and sell all on/after ex-date IS oversold.

Posted by foongkitmun > 2020-01-23 04:11 | Report Abuse

just a stupid question, if i didnt exercise the rights, what will happen to the my mother share after certain period?

Posted by jaynetan > 2020-01-23 06:06 | Report Abuse

劝你找一个有知识的经纪人

Posted by jaynetan > 2020-01-23 06:13 | Report Abuse

roslaom , how u get the or/right price as what you mentioned{icon rights could be rm 0.005 to 0.01 only.)

Posted by Jacky Lim Hung Sheng > 2020-01-23 06:23 | Report Abuse

From what I understand is the theoretical price of the rights should be depends on the market price, which means currently (0.415 - 0.105)/100+1 = 0.0031.
Kindly correctly me if I'm wrong. Happy trading guys!

Posted by ttgipoh > 2020-01-23 06:56 | Report Abuse

what is the OR price tommorow? take a wild guess

Posted by ttgipoh > 2020-01-23 06:58 | Report Abuse

0.20 or 0.35 ????

Posted by ttgipoh > 2020-01-23 06:59 | Report Abuse

would be glad if i can sell at 0.10

Posted by mazhard > 2020-01-23 07:17 | Report Abuse

icon right can be sale...but is there any buyer for the right ?

Posted by Shareview123 > 2020-01-23 08:31 | Report Abuse

The OR price is very much dependant on the price of ICON shares.
If Icon close at 0.24 today, then OR may open at 0.13 - 0.15. If ICON shares price close at 0.43 today then OR opening will be higher may be 0.3 - 0.33.
But chances of ICON shares price close higher is very slim based on some other similar cases like Velesto and Sapnrg.

Posted by CharlesT > 2020-01-23 08:38 | Report Abuse

By theory the price diff btw OR n mother should be around RM0.105

excited leh...

let's c the actual price of OR on tmr

Posted by Shareview123 > 2020-01-23 08:45 | Report Abuse

Anyhow, Icon has only around 23 millions issued shares at at today and the main shareholders may have cornered the shares, it is up to them to determine the closing price of ICON. Short sellers have to be very careful.

Posted by CharlesT > 2020-01-23 08:45 | Report Abuse

Assuming OR opens at RM0.20 n u hold 50k mother at 0.035 (cost rm1750) b4 ex

Then yr potential profit (by theory lah) is as follows;

1k at 0.42= rm420
100k OR at 0.20= rm20,000
total rm20420- rm1.750= rm18670

Profit Rm18670- rm1750=rm16920 or 966%

Song leh...pray more