what don't panic? your investment has depreciated so much and it will go down further. why???? if you know the way they do things , you will not touch the stock with a 10' pole
Our Board of Directors (“Board”) is pleased to announce that Icon Offshore Group Sdn Bhd, our wholly owned subsidiary, has recently been awarded a contract from Talisman Malaysia Limited for the provision of one (1) anchor handling/tug/supply vessel (the “Contract”) which was duly accepted by the subsidiary company. DETAILS OF THE CONTRACT The Contract is for a firm period of two (2) years with an option to extend the hire by a further one (1) year. The Contract commenced in September 2014. FINANCIAL EFFECTS The Contract, valued at approximately RM63.5 million, inclusive of the option period, is expected to contribute positively to the earnings and net assets of ICON for the financial year ending 31 December 2014 and beyond.
will the government give some sort of a big push to the oil and gas counter again, in this budget...and if ICON is one of the beneficiary, then we may see sudden movement...just like Gamuda with it's MRT project.
emmmm..they pull the joy stick to maximum during this period of time..easy2 catch the monkey la..what you wanna to show maa...first wanna be a fighter but last look clear record looser but????sure ka looser or they are the player..what and see..waachaa..
stay low...action speak louder than word..olang bo tilang kue li bo ti kue..mau mati pun mau bawak bendela ka...man2 lo peng yo..duit byak2 mau bikin apa...lu pi cak hong loo..
Revenue decreased by RM18.1 million or 18.5%, from RM97.8 million for the quarter ended 30 September 2013 to RM79.7 million for the quarter ended 30 September 2014. The decreased was primarily due to lower forerunner charter in revenue business and, absence of contribution from vessels divested as part of rejuvenation strategy, resulted to lower fleet utilisation of 76.1% for the quarter ended 30 September 2014 as compared to 86.9% for the quarter ended 30 September 2013, arising from lower demand and lower oil and gas activities. However, this was partly offset by contribution from new assets which includes Anchor Handling Tug and Supply (“AHTS”) vessel and Accommodation Work Boat (“AWB”).
As a result of the foregoing, profit after taxation increased by RM19.1 million or 70.0%, from RM27.3million for the period ended 30 September 2013 to RM46.4million for the period ended 30 September 2014.
The upstream exploration and production activities in Malaysia is expected to continue to underpin the demand for OSV. The current challenging market condition resulting from the geopolitical environment, recent drastic weakening in the crude oil prices to about USD80 per barrel since middle of October 2014, coupled with the cost optimisation initiatives by oil companies is expected to impact the demand for OSV.
Whilst the industry outlook is expected to remain soft, a significant portion of the Group’s orderbook are long term (more than one year) in nature, providing the Group with cash flow stability and earnings visibility.
The Group remains focused to ensure its utilisation rate is maintained through aggressively tendering for domestic and regional work.
In view of this, the Board of Directors remain cautiously optimistic that the Group is able to sustain its profitability levels for the year.
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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....
steveooikp
4,689 posts
Posted by steveooikp > 2014-10-13 17:54 | Report Abuse
this price better buy barakah... barakah better PER......