Posted by Icon88_ > 2020-01-25 18:06 | Report Abuse

Want fight? God pls make hatred people here bankrupt or lose a lot of $ after CNY.

Posted by OKU_2020 > 2020-01-25 18:11 | Report Abuse

Beheading /Kepala Potong when market open on Tuesday ?

Posted by future > 2020-01-25 18:12 | Report Abuse

Agree to you moneytary, there are some farts whether old or young idiot ,likes to curse ppl and make them having sleepless nights!!
This reminds me one guy “ks55”,who regularly changes ID and deletes his post on and off.
It was the time before Lion Industry shoots above Rm1.20, pricing waa around .26 .
But, as we are the buyer of our own, make bold decision to buy wo getting influenced from these farts.
Losing and winning will be reaped by ourselves!!

Posted by monetary > 2020-01-25 18:17 | Report Abuse

Uncle Charles. Sorry. As for my karma u don't have to worry. God will make judgement. Happy CNY.

Posted by tigerball > 2020-01-25 18:27 | Report Abuse

you all need to understand why Tuesday will limit down? only genuine cash buyer will queue. which will be less m holder that no cash to buy will sell like mad, which is a lot

Posted by monetary > 2020-01-25 18:46 | Report Abuse

do u know the theoretical ex price is 0.12? even limit down still over valued.

Posted by monetary > 2020-01-25 18:49 | Report Abuse

can limit down 2x. OR for sure limit down to 9s. Wed only si meaningful OR trading. those who don't know. Keep calm. It's absolutely normal.

Posted by monetary > 2020-01-25 18:50 | Report Abuse

don't let 有心人 scare u.

Posted by Icon88_ > 2020-01-25 19:12 | Report Abuse

monetary can trust? Why his limit down not happen instead up further 14.5 sen yesterday?

Stock: [ICON]: ICON OFFSHORE BHD
Jan 23, 2020 12:13 PM | Report Abuse
tomorrow 0.715 limit down to 0.415. how will the market price the OR?
https://klse.i3investor.com/servlets/cube/post/monetary.jsp

Posted by Eldon > 2020-01-25 19:54 | Report Abuse

股价大涨时，没买到的人静静...现在变为指定股，那些人跳出来幸灾乐祸...什么心态！

Posted by OKU_2020 > 2020-01-25 20:16 | Report Abuse

Double limit down Tuesday when market open after CNY is likely !

Posted by Michael Kwok > 2020-01-25 20:38 | Report Abuse

This is Bursa fault.Its should not worth that much.Its should stop trading if its limit up on one trading(means 33 percent).If its limit up on the same day again(then stop trading on that whole day).Bursa did not stop the trading by .... And let its go for few days.

Posted by Michael Kwok > 2020-01-25 20:47 | Report Abuse

Apa Ini.This call Malaysia Baru.So simple rules also cannot enforce.Suspect cheating in .....

Posted by TuaHuat2020 > 2020-01-25 21:26 | Report Abuse

Michael Kwok 1 more sour grape? Year of Pig very bad for you? Year of Rat you no change likely same haha.

Michael Kwok Apa Ini.This call Malaysia Baru.So simple rules also cannot enforce.Suspect cheating in .....
25/01/2020 8:47 PM

Posted by TuaHuat2020 > 2020-01-25 21:39 | Report Abuse

3.5 sen on Monday(21st) to 81.5 sen on Friday(24th) nobody see Icon Offshore icon of PH govn?

Posted by TuaHuat2020 > 2020-01-25 21:49 | Report Abuse

Year of Rat RM 2?

Posted by Mabel > 2020-01-25 21:50 | Report Abuse

@Invincible the X-all price should be:
closing price 0.035 x 50 = 1.75/share
RI (0.105 x 100) = 10.5
1.75 + 10.5 / 126 (RI+Wa+1) = 0.097 round up to 0.10

25/01/2020 11:53 AM

Invincible

Can you explain how you get 126 below

1.75 + 10.5 / 126 (RI+Wa+1) = 0.097 round up to 0.10

Cheers

Posted by TuaHuat2020 > 2020-01-25 22:04 | Report Abuse

More like sour grape haha cannot see people make $.

Posted by Mabel > Jan 25, 2020 9:50 PM | Report Abuse
@Invincible the X-all price should be:
closing price 0.035 x 50 = 1.75/share
RI (0.105 x 100) = 10.5
1.75 + 10.5 / 126 (RI+Wa+1) = 0.097 round up to 0.10

25/01/2020 11:53 AM

Invincible

Can you explain how you get 126 below

1.75 + 10.5 / 126 (RI+Wa+1) = 0.097 round up to 0.10

Cheers

Posted by Shareview123 > 2020-01-25 22:18 | Report Abuse

What invincible explained is correct and is referring to your average cost of holding 126,000 shares ( assuming you convert the free warrants without conversion price ).
50000 shares ÷ 50 = 1000 Shares
Right issue 100 x 1000 Shares = 100,000
Warrants = 100,000 ÷ 4 = 25000
Total = 1000 + 100,000 + 25000
= 126,000 shares ( 126000 ÷ 1000)
= 126

0.035 x 50000 = 1.75
0.105 x 100, = 10.5

Posted by Mabel > 2020-01-25 22:20 | Report Abuse

@Shareview123 What invincible explained is correct and is referring to your average cost of holding 126,000 shares ( assuming you convert the free warrants without conversion price ).
50000 shares ÷ 50 = 1000 Shares
Right issue 100 x 1000 Shares = 100,000
Warrants = 100,000 ÷ 4 = 25000
Total = 1000 + 100,000 + 25000
= 126,000 shares ( 126000 ÷ 1000)
= 126

0.035 x 50000 = 1.75
0.105 x 100, = 10.5
25/01/2020 10:18 PM

Thank you Shareview123!

This is very clear!

Posted by Shareview123 > 2020-01-25 22:28 | Report Abuse

If they want the retailers to subscribe to the right issue, then they will maintain the Icon shares price, it can be 0.40- 0.80 or even higher until the closing date of the subscription of rights issue and at the time press down the OR price below 0.10.

If they don't want the retailers to subscribe to the right issue, then they will press down the Icon shares price below 0.30 before the closing date of the right issue and at the same time maintain the OR price with a difference of less than 10 sen of the Icon shares price at the market.

Posted by Shareview123 > 2020-01-25 22:45 | Report Abuse

If they really want the retailers to subscribe to the right issue then they will press both Icon and OR to limit down next Tuesday, Icon 0.51 and OR 0.09, after ding dong, ding dong until OR cease trading.

Posted by kbs2809 > 2020-01-25 22:47 | Report Abuse

Why Icon must be designated? I suspect for only one reason...to push the shareholders to the corner so that they cannot sell the OR and later to subscribe to the Rights. Excessive Manipulation? what the nonsense reason, 50 become 1, the ICON price shall be at least RM1.75 based on 3.5cents on 21Jan and now only 0.81cents which still low compared to what the shareholders have paid, while OR not even can sell as to many sellers and no buyer. I thought if it is going for limit down on 28Jan, it will rebound again to stabilize at 20-30cents before 31Jan. Now the hope it is gone, well done Bursa.

Posted by arfastrade > 2020-01-26 06:52 | Report Abuse

On 24Jan, 8k lot of OR being bought. Just wanna congratule those seller, for making a return of 2128% in no time, lol

Posted by monetary > 2020-01-26 08:06 | Report Abuse

Gong Xi Fa Cai day2. OR 10s many ppl lough till teeth fall out. Don't give false hope. Later some ppl accuse u conman.

Posted by ttgipoh > 2020-01-26 10:58 | Report Abuse

game over

Posted by Michael Kwok > 2020-01-26 11:09 | Report Abuse

Me,no sour grape.No investment in here.Lol.Just pity the investor.Not all have money to buy 1 need to Subsribe to 100 shares.
TuaHuat2020
4 posts
Posted by TuaHuat2020 > Jan 25, 2020 9:26 PM | Report Abuse

Michael Kwok 1 more sour grape? Year of Pig very bad for you? Year of Rat you no change likely same haha.

Michael Kwok Apa Ini.This call Malaysia Baru.So simple rules also cannot enforce.Suspect cheating in .....
25/01/2020 8:47 PM

Posted by Michael Kwok > 2020-01-26 11:17 | Report Abuse

80 over cent based on 2.3 billion shares.Excessive overvaluation.Bursa now then take action.After shares consolidation it's should be rm 1.75.But right issues made its rm 1.75/100(not include warrant)= 17.5 cent.Include warrant should less.So below 30 cents valuation by me(best case scenario).

Posted by Mabel > 2020-01-26 11:59 | Report Abuse

A lion saw a dolphin playing in the sea. Seeing it frolicking among the mighty waves, he was impressed by the dolphin’s power. He called out, “Let us be friends since I’m the king of beasts on the land while you are the ruler of the sea creatures.” The dolphin happily agreed and they became good friends.

One day a wild bull attacked the lion. They fight continued for a long time as the bull was very strong. The lion was tiring and called out to the dolphin for help but the dolphin was unable to help.

The lion eventually defeated the bull. He went to the dolphin and said, “What kind of friend are you? I needed help and you did not bother to come.” The dolphin explained to the lion, “Nature has made me powerful in the sea but I am helpless on land. You are so powerful but will be able to save me from danger in the sea?”

Posted by ferdtwh > 2020-01-26 12:04 | Report Abuse

Most of u guys will monitor price till the date approaching end date of rights subscription only buy the rights?

Posted by ferdtwh > 2020-01-26 12:05 | Report Abuse

If price fall like no one, will not proceed the rights and just forget about this stock

Posted by Mabel > 2020-01-26 12:12 | Report Abuse

Let me put this way. this RI has been on the table for quite sometime already. If I'm not mistaken they have announced their intention since October 2019.

Moving forward you actually have 4 Options. Please read what I posted earlier. It can be an opportunity to some or a potential disaster to some. You decide what is best for you based on your respective risk adversity.

Posted by Mabel > 2020-01-26 13:07 | Report Abuse

ICON went limit up for the wrong reasons. Some are saying its because the terms were so convoluted and that not many know how to calculate the capital reduction.

PLEASE, this is not your first rodeo, this is not the first capital reduction exercise. You are all supposed to be professional investors or advisors.

The limit up was obviously caused by the 50 into one capital reduction. A simple calculation showed that ICON had 2.377bn shares. Divide that by 50 = 47.5 million shares. That must be close to the fewest number of shares listed by a company on Bursa.

The complaining parties ARE those who SOLD SHORT unwittingly. Imagine you had 100,000 prior to the ex date. It was trading at 4 sen, you value was RM4,000, and as with 99.9999% of ICON investors, you had lost money already big time.

Then you woke up and saw the price going limit up.

(0.035 x 50) + (100 × 0.105) ÷ 101 = 0.12

Add the 30 sen limit up, you have 42 sen, today add another 30 sen you have 72 sen.

As you can see even at 72 sen, with just 47.5m shares its market cap is just RM34.2m. Of course, there are still other derivatives to cater to but let's forget that for now.

The main reason for the double limit up... OVERSOLD SHORT. Imagine that same guy with 100,000 shares (value RM4,000) and seeing it going limit up at 42 sen. Sell first lar... Trouble is he sold 100,000 consolidated shares when in reality he had only 100,000/50 = 2,000 shares.

Imagine you have to buy back the 98,000 ... say at an average of 62 sen ... you would have lost 62-42 = 20 sen x 98,000 =RM19,600

Bearing in mind your value was just RM4,000 to start with. The figures will multiply if you had shorted 1,000,000 ...

Bursa has done no wrong. This has been the same process for the longest time. Even our online accounts have default settings that do not allow investors to short sell stocks, i.e. selling what you don't have in your portfolio.

The ONLY people who can short sell are DAY TRADERS or proprietary traders or company dealers... though some bigshots do deal through company dealers' accounts first. Hence if you kena short sell... you get very little sympathy from all.

https://klse.i3investor.com/blogs/kianweiaritcles/2020-01-24-story-h1482924519-Talking_About_ICON_Salvador_Dali.jsp

Thanks for this great article Tan KW !

Posted by tigerball > 2020-01-26 13:13 | Report Abuse

rip

Posted by Michael Kwok > 2020-01-26 14:08 | Report Abuse

Excuse me,before consolidated number of shares and price.Consolidated number of shares and price.And after right issues number of shares and price.Mabel please give me the data.

Posted by Michael Kwok > 2020-01-26 14:15 | Report Abuse

Come to buy SCable.Only 36 cents.Icon no more.

Scable.
Michael Kwok
1202 posts
Posted by Michael Kwok > Jan 10, 2020 8:18 PM | Report Abuse X

Trying some new method here.Seing 57-67 cent as worst case scenario.I call it a buy.Cut loss at 33 cent below(made sure below after 4 pm on that day).price 36 cents.

Posted by Miz Raya Bloom > 2020-01-26 14:53 |

Post removed.Why?

Posted by Mabel > 2020-01-26 15:11 | Report Abuse

Michael

All the data has been shared earlier. Please scroll up. Lots of great comments by the team too..

Currently my Icon Royal Fortune Battleship is sitting on P7 on my Armada Battleships Fleets with Healthy Margins..

Looking forward to see how she will perform with this Right Issues..

Cheers!

Posted by ferdtwh > 2020-01-26 15:44 | Report Abuse

https://oilprice.com/Energy/Energy-General/Why-40-Oil-Is-A-Real-Possibility.amp.html

Posted by ferdtwh > 2020-01-26 15:44 | Report Abuse

Looks like icon timing to do debt restructuring is not so right.....oil price may collapse and this will affecting icon business

Posted by ferdtwh > 2020-01-26 15:48 | Report Abuse

Those who short sell, play contra, or borrow money to buy shares will going to end up in trouble....... Basic rules of investing in shares is using your spare or extra money only.....worse case is when you lost the money in shares market, it won't impact to your basic living......

Posted by teoct > 2020-01-26 16:16 | Report Abuse

Shareview123, thank you for sharing your thoughts on the "maintenance" of price to "ensure" subscription of the rights.

There are altogether, four underwriters that will underwrites (that is, pick up any rights that entitled retail shareholders do not take up) RM 37.5 million representing 15.2% of total rights (with warrants) to achieve the minimum intended gross proceeds of RM 145.5 million.

The main shareholders (all government linked) had already given an undertaken to subscribe to their entitlement of RM 108 million (145.5 - 37.5).

So as retail shareholders, there is the comfort that the major shareholders will subscribe, the four underwriters will subscribe if you do not want. Base on this, the underwriters (I am speculating here) will maintain the price at an attractive level so that retail shareholders would want to subscribe otherwise they will have to cough out RM 37.5 million. If one look back to Dayang, that was what happened. This is what Shareview123 meant.

In addition, financial institutions that had given loans to ICON have agreed to take the rights (with warrants) as part payment of loans extended. In this way RM 27.7 million of outstanding loans has been settled. What this signify is that financial institutions are bullish of the OSV sector in the coming years that they will eventually sell their (right) shares (and warrants) to recoup their money and maybe more. Of course, downside is always there.

Now about the consolidation of 50 to 1, it is not possible that one can sell short on ex-date (or any other day). Online trading platform or any platforms for that matter would immediately showed the reduced number of shares and the platforms will immediately reject the sell order. The scenario narrated is totally a non-issue. One just cannot sell more shares than one owned. I am not talking of those short sellers. I am only talking of retail shareholders. If you are a retail shareholders and it happened to you, then change investment bank, their trading platform is faulty.

Those who are able to sell shorts, belong to a special group of traders and there is no need for sympathy for them as they know exactly what they are doing - gambling.

The confusion on the prices arises because the rights (cum warrant) issue was ex on the same date i.e. 22 jan 2020, thus the price is immediately adjusted as if the rights (cum warrants) are fully subscribed as is all others rights issues while some may think that the prices should be the consolidated price of above RM 1+ before the rights.

Yes, there would / could be limit down when market open on Tuesday.

Of course, all this confusion could have been avoided should the Adviser and Bursa had just went with the rights issue without consolidation. That is, 1.5 to 2.2 times (minimum to maximum gross proceed) the issued and paid up of original 1,177,185,100 shares.

Appreciate if the Adviser / Bursa explains what purpose the consolidation serve?

Happy investing in the Rat year.

Posted by monetary > 2020-01-26 16:19 | Report Abuse

ferdtwh. U must know how many tickets in retailers' hands. Enuf to cause the plan being called off? In the end of the day they will offer u a price (non attractive) to buy all the OR. 1 think for sure. Tue many will come to watch how icon shareholders suffer by shouting idiot, sleepless night to satisfy their sin. They will claim they r here to save newbies from being conned. Take a look of FB posting by TCapital. Full of laughing emoji. R they really here to help?

Posted by teoct > 2020-01-26 16:29 | Report Abuse

ferdtwh - timing can never be right or wrong on hindsight. It is just bad luck. Who knew coronavirus happened? This right issue was planned way back to the middle of 2019.

Not only ICON would be in trouble, all O&G service providers would be in trouble too; sooner or later, should the oil price go south like in 2015/2016.

But, I am sticking my neck out here, I think this is a knee-jerk reaction and oil price would revert to the USD 65 to 70 level within the next 3 months.

Posted by ferdtwh > 2020-01-26 17:07 | Report Abuse

Aikzzz, still in dilemma whether to subscribe their rights based on current condition, too many uncertainties or negative points, positive side is some institution took their rights as per teoct mentioned / as in their prospectous

Posted by Shareview123 > 2020-01-26 18:57 | Report Abuse

All right issue must have underwriters. If the right issue is under subscribed, the underwriters will take up the balance not subscribed.

Fot the case of consolidation and oversold by the retailers, teoct has explained clearly.

What we are not certain is we are not sure whether the major share holders want the retailers to subscribe or not to subscribe to the right issue.

If Icon were to be given huge contracts and become very profitable, then they will make the retailers to sell the OR FORMS.
IF the prospect for ICON is not good then they will make the retailers to subscribe to the right issue as I have explained before.

Posted by jaynetan > 2020-01-26 19:12 | Report Abuse

一点观点
我的除权成本约13分（未计算免费凭单）。

我自我陶醉，以alam , perdana ，thheavy, barakah 做比较

alam , 去年未重组前 9 分 ，重组后 ， 现约 17 分
perdana, 上个月未重组前约 34 分，重组后， 现 52 分
barakah 3 分 等待重组
thheavy 13 分， 等待重组

alam , perdana, icon, 是重组后的3个油气股。
icon 附加股将在20/2上市
比 较 alam 17, perdana 52, icon 13

如下个月油气股/油价 变动不大，或乐观些，不谈谁好谁坏， 股友会看上那个？

其他负面新闻乃股市过程，锦上添花专家多，落井下石大师更不少，

当然， or 如有3 分以上也不错

即来之 则安之

没建议买卖，一切不忘初心

Posted by rr88 > 2020-01-26 21:51 |

Post removed.Why?

Posted by future > 2020-01-26 22:37 | Report Abuse

Your mouth spits too much venom and why all these vengeance?

Posted by ferdtwh > 2020-01-26 23:47 | Report Abuse

rr88's comment can be negative, not sure as if loose way too much from shares till negativity in control of his mindset........just my feeling only, don't attack me ar ......