@Shareview123 In a longer time, say 6 to 12months, if ICON Can not get better contracts and perform better, it price will eventually o down. 23/01/2020 11:23 AM
Touch wood. That's not going to happen. May bank is very positive on ICON. They rate ICON better than Sapnrg in their recomendation. It's a BUY vs HOLD for Sapnrg
Here's why I think, ICON will prevail..
Oil & Gas - Upstream Activities to Stay Elevated Author: kiasutrader | Publish date: Fri, 3 Jan 2020, 10:01 AM
While we were positively surprised with the OPEC’s decision to deepen existing production cuts in 1QCY20, we were somewhat disappointed that the coalition failed to announce any extension of production cuts beyond that. We still view that continued production cuts is imperative to sustaining oil prices at current levels, with further downside risks coming from: (i) enforcement measures of production cut compliance among OPEC members, (ii) continued uncertainties in U.S.-China trade tensions, and (iii) continued rise in U.S. oil output. Overall, we assumed an average Brent projection of USD60/barrel for 2020-2021. Meanwhile, local upstream activities are expected to stay elevated from high levels seen in 2019, as guided in Petronas’ latest Activity Outlook. We have identified selective biggest winners to include: (i) fabricators (e.g. MHB, SAPNRG), to benefit from the high surge in number of WHP, and (ii) marine vessel providers (e.g. ALAM, COASTAL, ICON, PERDANA), benefiting from surge in AHTS demand. Offshore maintenance players (e.g. DAYANG, CARIMIN) is also expected to see further increase in works, even after a high in 2019, while VELESTO is also anticipated to see healthy utilisations on the back of sustained jack-up drilling rig demands. Maintain NEUTRAL on the sector, given limited upside to large-cap Petronas-related counters, although with increased optimism towards equipment and services providers. As for stock selections, defensive and growth-seeking investors could seek out stable names such as YINSON and SERBADK, although bargain hunters could target some laggard-play angle in heavily discounted names, of which we like PANTECH, SAPNRG, UZMA and COASTAL.
Mew827, if they have a Right issue of 2 to 1, most of the retailers won't sell their shares holdings, so the plan won't work. The multiple proposals have been announced sine 1st Oct 2019, so they need few months to accumulate the shares. The consolidation of the shares from 50 become 1 will make a lot of retailers holding odd lot, so this frightened them and made them sold their shareholdings.
The main reason for USA controlling Iran, Iraq, syria, libyais to plug the oil production, hence oil price would not plunge further out of excessive surpluses, amid progressively lower demand from comsumer contries that started to experience the simptom of recession.
It won't come down. The limit up will stay today. Buy-in is on T2 which is tomorrow. This is very cruel. Force the oversold players to buy back from them after 2 days of limit up. Tomorrow will come down.
Since listed, ICON has been a tightly controlled company. A lot of Tabung Haji's investment in listed shares had been transferred to a Spv. We don't know what is the plan, who knows it can be like MYEG before. Anyhow, retailers have to be careful and we should be able to know in the next few trading days.
ICON is not cornered. If you look at last Annual Report, there are 9000+ shareholders holding it. Those who oversold, must buy using buy-in with penalty. Imagine if oversold players sold at 20c, buy back at 71.5c + 5c penalty.... very cruel.
No sell down lah tommorow. Tommorow, u can sell ur rights for about half a sen. Icon needs capital injection from shareholders to pay debt. If u love this company and believe the future performance, go find money to give icon. Warrant exercise price 0.165. 20 feb, shares price will adjust accordingly. Warrant intrinsic value will depend on mother share. But normally will be out of money. Who knows, maybe warrant could be in the money.
Renounceable rights issue of up to 2,354,370,200 new ordinary shares in Icon Offshore Berhad ("Icon") ("Rights Shares") on the basis of 100 Rights Shares for every 1 ordinary share in Icon held after the share consolidation, together with up to 588,592,550 free detachable warrants ("Rights Warrants") on the basis of 1 Rights Warrant for every 4 Rights Shares subscribed for, as at 5.00 p.m. on Thursday, 23 January 2020 at an issue price of RM0.105 per Rights Share ("Rights Issue with Warrants")
Kindly be advised of the following :
1) The Right commence of trading : 24 January 2020 2) The Date of Despatch of the Prospectus and Provisional Allotment Letter of Offer : 28 January 2020 3) The last day and time for Acceptance, Renunciation and Payment : 10 February 2020 4) The Rights cessation quotation : 03 February 2020
The Stock Short Name, Number and ISIN Code ICON-OR, 5255OR and MYL5255OR007
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 492 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 12609 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....
8888_
2,919 posts
Posted by 8888_ > 2020-01-23 11:11 | Report Abuse
If Icon >60 sen expect Icon W same?