Posted by newguy0801 > 2022-03-02 23:44 | Report Abuse

ICON just owns the oil rigs where they lease out to oil field owners where they operate and maintain the oil rigs.

Posted by newguy0801 > 2022-03-02 23:47 | Report Abuse

This is found in their recent QR under segment information: The Group revenue mainly comprises charter hire income from vessels and rig where it is recognised upon
rendering of services to customers over the term of the charter hire contract.

Posted by newguy0801 > 2022-03-02 23:48 | Report Abuse

So, here you go. They just lease the equipment, but they don't own the oil products. However, don't feel bad investing in ICON, since oil boom means more usage for these equipments.

Posted by Michael R. > 2022-03-03 01:35 | Report Abuse

Limit up anytime...

Posted by bullmarket1628 > 2022-03-03 06:40 |

Post removed.Why?

Posted by Mabel > 2022-03-03 14:40 | Report Abuse

ICON Offshore Bhd recorded a net profit of RM7.67 million and revenue of RM80.9 million driven by drilling segment and higher utilisation of vessels in offshore vessel service segment.

Its full-year revenue stood at RM301 million breaching the RM300 million mark, the company recorded in the financial year 2014 (FY14) at the height of crude oil prices.

Posted by k3nthiew > 2022-03-03 14:51 | Report Abuse

I think so long Icon can prove itself in coming few quarters result, market will then realized Icon is a buy. Just like plantation counters few weeks ago.

Posted by k3nthiew > 2022-03-03 14:54 | Report Abuse

Market cannot forever ignore stock that have continuity on improving earning.

Posted by k3nthiew > 2022-03-03 14:57 | Report Abuse

It will be a day that market will acknowledge Icon's value when Icon proved its own value.

Posted by M55555 > 2022-03-03 16:07 | Report Abuse

BRENT now USD119.7 going USD120!!! ICON!

Posted by Mabel > 2022-03-03 19:08 | Report Abuse

The oil and gas sector?s outlook is also positive as escalating crude oil prices and rising global demand will catalyse faster order flows across the value chain. Meanwhile, the power and consumer sectors are good proxy to the economy recovery hence we are positive on these sectors too. However, we are UNDERWEIGHT on plantations as we believe that the CPO price should ease in the 2H2022 as production increases.

Source: AmInvest Research - 2 Mar 2022

Posted by Mabel > 2022-03-03 22:02 | Report Abuse

(March 3): Outflows from Russia in the wake of sanctions and index exclusions due to Ukraine war can find home in Indonesia and Malaysia as both Southeast Asian nations produce commodities like Russia and Ukraine, according to money managers Samsung Asset and Modular Asset.

https://www.theedgemarkets.com/article/russia-stock-outflow-land-indonesia-malaysia-say-funds

Posted by newguy0801 > 2022-03-03 22:39 | Report Abuse

Mabel, you seem to like O

Posted by Icon 888 > 2022-03-04 01:32 |

Post removed.Why?

Posted by freddiehero > 2022-03-04 08:30 |

Post removed.Why?

Posted by bullmarket1628 > 2022-03-05 08:17 |

Post removed.Why?

Posted by bullmarket1628 > 2022-03-05 08:33 | Report Abuse

Oil price surges to multi-year highs as Russian supply shortfall looms
Energy Saturday, 05 Mar 2022
6:43 AM MYT

https://www.thestar.com.my/business/business-news/2022/03/05/oil-price-surges-to-multi-year-highs-as-russian-supply-shortfall-looms

NEW YORK: Oil surged on Friday, ending the week at multi-year highs as Russia's invasion of Ukraine intensified and oil buyers shunned barrels from the world's second-largest exporter of crude.
Crude prices posted their largest weekly gains since the middle of 2020, with the Brent benchmark up 21% and U.S. crude gaining 26%. The most commonly traded oil futures closed at levels not seen since 2013 and 2008, respectively.
Oil surged throughout the week as the United States and allies heaped sanctions on Russia that, while not aimed at Russian oil and gas sales, nonetheless squeezed its industry, and threatens a growing supply crunch in coming months.
Brent LCOc1 futures rose US$7.65, or 6.9%, to settle at $118.11 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 rose $8.01, or 7.4%, to end at $115.68.

That was the highest close for Brent since February 2013 and for WTI since September 2008. During the week, Brent rose to its highest intraday since May 2012 and WTI its highest since September 2008.

Russia exports 4 million to 5 million barrels of oil daily, making it the second-largest crude exporter in the world after Saudi Arabia. Traders were barely able to sell Russian oil all week, with Shell PLC SHEL.L on Friday the only notable buyer of a Russian cargo, which was sold at a steep $28-discount to physical Brent crude. The tumult is likely to continue. The Biden administration, under pressure from lawmakers from both major parties, said it is considering options for cutting U.S. imports of Russian oil even as it tries to minimize the impact on global supplies and on consumers.
"While U.S. oil imports from Russia are small in a global context," UBS analyst Giovanni Staunovo said crude prices rallied late in the day because "some market participants might be concerned that other countries might follow that step."
Britain will look to target Russia's energy sector in future rounds of sanctions, its foreign minister said Friday. The government has resisted this move so far, due to concerns that it will push up energy bills. Most Americans support the idea of banning Russian oil imports, with 80% saying the United States should stop buying Russian oil, according to a Reuters/Ipsos poll completed on Friday.
Canada banned imports of Russian oil earlier in the week. Russia's largest buyers include China, South Korea, Germany and the Netherlands. Some refiners have stopped buying Russian oil, and trading firms are reluctant to transact with Russian sellers for fear of more sanctions.
Indirect talks between Iran and the United States on reviving the 2015 Iran nuclear deal were close to reaching an agreement, the chief British envoy said on Friday as she and her French and German colleagues flew home to brief ministers. Analysts said such an agreement could add another 1 million barrels of daily supply to the market, but that would not be enough to offset declining supply from Russia.More oil supplies are set to be added from a coordinated release of just over 60 million barrels of oil reserves by developed nations, agreed this week. Japan said on Friday that it plans to release 7.5 million barrels of oil.

Posted by King18Wn > 2022-03-06 21:15 | Report Abuse

Flying..................!!!

Posted by Icon 888 > 2022-03-07 01:20 | Report Abuse

Come on la

Posted by M55555 > 2022-03-07 10:28 | Report Abuse

Brent now USD127.70 . I CON ?

Posted by Icon 888 > 2022-03-07 14:37 |

Post removed.Why?

Posted by Icon 888 > 2022-03-07 16:04 |

Post removed.Why?

Posted by bullmarket1628 > 2022-03-08 06:48 |

Post removed.Why?

Posted by Icon 888 > 2022-03-08 09:14 |

Post removed.Why?

Posted by cpo_ > 2022-03-08 10:00 | Report Abuse

Brent >USD 120 why cannot up like Hibiscus? Sona boss cannot let Icon produce oil?

Posted by 8888_ > 2022-03-08 10:05 | Report Abuse

Brent >USD 120 why cannot up like Hibiscus? Sona boss cannot let Icon produce oil?

Posted by M55555 > 2022-03-08 15:03 | Report Abuse

CONNED

Posted by Mabel > 2022-03-08 15:17 | Report Abuse

Operator is still hungry...

Once they have collected enough, sure they will push lor...

Be Greedy when others' are running...

Posted by Mabel > 2022-03-08 15:18 | Report Abuse

Hibiscus has been great..

Happy with Hibiscus...

Soon Icon will cum...

Meow

Posted by M55555 > 2022-03-08 23:08 | Report Abuse

Brent now USD131.80 !

Posted by bullmarket1628 > 2022-03-09 07:05 |

Post removed.Why?

Posted by bullmarket1628 > 2022-03-09 07:29 | Report Abuse

Biden announces ban on Russian oil imports, calling it 'Putin's price hike'
March 8, 2022, 9:43 PM +08�/�Updated�March 9, 2022, 2:25 AM +08
By Kristen Welker, Peter Alexander and Rebecca Shabad
https://www.nbcnews.com/politics/politics-news/us-ban-russian-oil-imports-rcna19119

WASHINGTON ? President Joe Biden announced Tuesday that the U.S. will target "the main artery of Russia's economy" by banning the import of Russian energy products.
"We're banning all imports of Russian oil and gas and energy," Biden said in remarks from the White House. "That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin's war machine."

The president warned that the move would probably increase gas prices in the U.S., but that it was necessary to ramp up sanctions pressure on Russia's economy for its war on Ukraine.�
?Putin's war is already hurting American families at the gas pump," Biden said. "I?m going to do everything I can to minimize Putin's price hike here at home.?
Biden's language clearly anticipated a concerted Republican effort to blame him directly for the rise in gas prices, which hit a record in the U.S. on Tuesday. With gas prices certain to become a huge political issue in this year's midterm elections, Biden devoted much of his remarks to focusing American anger directly on Putin, while also encouraging U.S. energy companies to produce more domestic oil.
The president said the U.S. had made the decision to ban Russian energy products "in close consultation" with allies around the world, particularly in Europe. He said many of those partners may not be able to take the same action.
"The United States produces far more oil domestically than all of Europe," said Biden, who said the U.S. is a net exporter of energy. "We can take this step when others cannot, but we're working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy as well."

Posted by bullmarket1628 > 2022-03-09 08:23 | Report Abuse

Oil surges as U.S. bans Russian crude, Britain to phase out purchases
By Shariq Khan. 9-3-2022

https://www.reuters.com/business/oil-see-saws-near-14-yr-highs-us-weighs-russia-oil-embargo-2022-03-08/

BENGALURU, March 8 (Reuters) - Oil prices settled around 4% higher on Tuesday as the United States banned Russian oil imports and Britain said it will phase them out by year end, decisions expected to further disrupt the global energy market where Russia is the second-largest exporter of crude.
Oil prices have surged more than 30% since Russia invaded Ukraine, and the United States and other countries imposed a raft of sanctions. Russian oil and gas exports were already being shunned before the ban as traders sought to avoid running afoul of future sanctions.
U.S. President Joe Biden announced a ban on Russian oil and other energy imports. Britain said it will phase out the import of Russian oil and oil products by the end of 2022, giving the market and businesses time to find alternatives.

Brent crude futures settled at $127.98 a barrel, 3.9% higher, while U.S. crude futures settled at $123.70 a barrel, a 3.6% increase.

Russia ships 7 million to 8 million barrels per day of crude and fuel to global markets. European allies are not expected to join the United States in the ban, but major buyers there are already shunning Russian oil. Shell, the one notable major that did buy Russian crude, faced a torrent of criticism, including from Ukraine's foreign minister. On Tuesday, Shell said it would no longer buy Russian oil.
The disruption could ripple through other energy markets, as Russian oil and products are used for refining into other goods...

Posted by M55555 > 2022-03-09 10:37 | Report Abuse

0.10? ICON use oil not help drill oil.

Posted by M55555 > 2022-03-09 16:58 | Report Abuse

siapa dapat 0.10 ? Saya tak dapat lagi

Posted by bullmarket1628 > 2022-03-10 00:56 | Report Abuse

Malaysia will reopen its borders to international travellers on April 1, says PM
By JOSEPH KAOS
Tuesday, 08 Mar 2022 5:44 PM MYT

https://www.thestar.com.my/news/nation/2022/03/08/malaysia-will-reopen-its-borders-to-international-travellers-on-april-1-says-pm

KUALA LUMPUR: Malaysia will reopen its borders to international travellers starting April 1, says Datuk Seri Ismail Sabri Yaakob on Tuesday (March 8).
The Prime Minister said visitors, as well as Malaysian returnees, who are fully vaccinated are not required to undergo quarantine upon arrival.
They, however, must undergo a RT-PCR test two days before departure and a rapid test (RTK) upon arrival.
As for travellers who have not been fully vaccinated, Ismail Sabri said the entry procedures will be explained by Health Minister Khairy Jamaluddin on Wednesday (March 9).
?As part of our ?Transitioning to Endemicity? phase, the government has decided to reopen the country?s borders from April 1.
?This move will revive the country?s economy, especially the tourism industry that has been heavily affected by the pandemic.
?The decision is made based on science and current facts related to Covid-19, as well as the reopening of borders in other countries...

Posted by M55555 > 2022-03-10 10:01 | Report Abuse

Oil sky rocketed also no story here . What will open border can do ?
May be many do not know who is this ICON
https://www.youtube.com/watch?v=oaap5wVde00

Posted by Unonono999 > 2022-03-10 10:07 | Report Abuse

@M55555 Bursa up since yesterday. Won't fall already lah. Alrady say no effect to Malaysia ma. Open border we can go holiday haha!

Posted by M55555 > 2022-03-10 23:34 | Report Abuse

Today throw some to buang sui.

Posted by madguy > 2022-03-11 22:12 | Report Abuse

when wan up ??

Posted by M55555 > 2022-03-11 23:42 | Report Abuse

very soon. Iran nuclear talk on hold etc...........

https://www.aljazeera.com/news/2022/3/11/eu-foreign-policy-chief-says-pause-needed-in-iran

https://www.reuters.com/world/middle-east/attack-refinery-riyadh-did-not-affect-petroleum-supplies-spa-2022-03-10/

Posted by madguy > 2022-03-12 02:39 | Report Abuse

@M55555 how does this related to icon?

Posted by M55555 > 2022-03-12 11:52 | Report Abuse

Oil price good and stabilized . Oil producers will maximize its oil production . ICON will have more jobs.

Posted by madguy > 2022-03-13 15:39 | Report Abuse

@M55555 u sure ??

Posted by madguy > 2022-03-14 00:56 | Report Abuse

go go go

https://www.thestar.com.my/business/business-news/2021/11/13/icon-offshore-emerges-as-dark-horse-in-og

Posted by vcinvestor > 2022-03-14 11:53 | Report Abuse

https://www.klsescreener.com/v2/news/view/963659/icon-offshore-sees-better-financial-performance-in-fy22

Posted by M55555 > 2022-03-14 12:13 | Report Abuse

Berita Harian also come our news cover for Icon Off shore today.

https://www.bharian.com.my/bisnes/korporat/2022/03/933848/icon-offshore-yakin-prestasi-kewangan-meningkat

Posted by M55555 > 2022-03-14 12:13 | Report Abuse

Berita Harian also come our news cover for Icon Off shore today.

https://www.bharian.com.my/bisnes/korporat/2022/03/933848/icon-offshore-yakin-prestasi-kewangan-meningkat

Posted by bullmarket1628 > 2022-03-14 18:53 | Report Abuse

Icon Offshore to record higher utilisation for its jack-up rig, OSV, says Maybank IB
By Ayisy Yusof - February 15, 2022 @ 11:14am
https://www.nst.com.my/business/2022/02/771522/icon-offshore-record-higher-utilisation-its-jack-rig-osv-says-maybank-ib

KUALA LUMPUR: Icon Offshore Bhd is likely to record higher utilisation for its jack-up rig and offshore support vessel (OSV) in anticipation of the rising capital expenditure by industry players, said Maybank Investment Bank Bhd (Maybank IB).

Analyst Liaw Thong Jung said Icon Offshore's turnaround story began to gain traction and optimism after securing a short-term jack-up rig contract from ConocoPhillips, following the end of its previous gig (Petrofac) in the fourth quarter (Q4) of 2021.

Icon Offshore recently received a letter of agreement from ConocoPhillips Sarawak for the charter of its jack-up rig - Icon Caren.

The contract, worth an estimated US$9.6 million, will commence in the second quarter of 2022, and the work scope entails drilling three+ine wells for the client's 2022 drilling campaign in Sarawak.
Maybank IB said the contract value equates about US$75,000 to US$80,000 (three+one wells), which appears to be higher than its previous job (Petrofac; US$74,000; eight+three wells).


However, he said it is within the prevailing market's rate, and it did not rule out the possibility of the contract containing some 'add-on' items.
"The contract tenure (three to four months) is shorter than we initially expected but is not a concern, for we expect high extension/new charter prospects for its jack-up rig over the next 12 months."

The research firm said earnings estimates for Icon Offshore remains unchanged, on expectations of a softer quarter-on-quarter outlook for Q4 of 2021.

This was due to seasonal weakness (monsoon) kicks in, but a stronger FY22, it added.

"Overall, its earnings recovery is tracking to expectation, with its drilling ops continuing to be the company's key earnings driver.

"Maintaining high utilisation for its assets (jack-up rig and OSVs) remains its key performance index, followed by its continued cost optimisation exercise, which includes disposal of ageing/ idle OSV assets."

Maybank IB maintained a buy call for Icon Offshore with a target price of 0.16 as the company's turnaround story has begun to gain traction.

Posted by newguy0801 > 2022-03-14 19:05 | Report Abuse

NGL, this CEO of ICON is quite good.