Posted by jayalbert > 2017-01-20 10:35 | Report Abuse

correct @sheep, it will b either a 6% or 7% return, depending whether one buys at 47 c or 46.5 c

Posted by Jay > 2017-01-20 10:58 | Report Abuse

only problem is there could be delays in deal completion and also small risk of the acquisition may not be approved. meanwhile your capital will be tied up. but other than that, yes you could earn that 6-7% by hold and wait

Posted by jayalbert > 2017-01-20 10:59 | Report Abuse

well, there's no investment made that can b without any risk..

Posted by mfbs > 2017-01-20 11:13 | Report Abuse

Tq icon..bye2 sold

Posted by jayalbert > 2017-01-20 11:14 | Report Abuse

wow, good hong bao for u for the chinese new year..

Posted by okteak > 2017-01-20 11:56 | Report Abuse

take profit at 0.475, tq ICON

Posted by MainBesar > 2017-01-20 12:07 | Report Abuse

out of 8 rigs, only 2 in operation

Posted by wallace78 > 2017-01-20 12:26 | Report Abuse

Bro, PNB & Ekuinas jointly hold 62.8% after the merge, the situation will totally change. Do you think they merging for fun?

Posted by ruslimz > 2017-01-20 12:40 | Report Abuse

total numbers of shares after the merging is more than 5b, this is a joke....PNB is forced to take part....TA put the value after merge at 50 sen.....

Posted by Desmond Nah > 2017-01-20 13:29 | Report Abuse

When icon will officially delist?

Posted by SHQuah > 2017-01-20 14:13 | Report Abuse

I read someone say 8 rigs, last time 2 in operation but now 5 after oil price recover.

Posted by bleuerouge > 2017-01-20 15:32 | Report Abuse

ya, when is the due date?

Posted by noah > 2017-01-20 16:16 | Report Abuse

within 3 months UMWOG will held an EGM.
so shall be 3 months

Posted by SHQuah > 2017-01-20 16:23 | Report Abuse

if we have 1000 icon shares....after ex date, how many UMWOG share we got ?

Posted by Penang_lang > 2017-01-20 17:02 | Report Abuse

Not 1000x0.50/0.80=625 UMWOG shares?

Posted by OngLai88 > 2017-01-20 17:03 | Report Abuse

1000 Icon >>> 625 UMWOG........buy enough of ICON to avoid odd lots of UMWOG

Posted by Penang_lang > 2017-01-20 17:06 | Report Abuse

So pressing down UMWOG force us to opt for cash instead?

Posted by csan > 2017-01-21 09:19 | Report Abuse

i can't see why people want to consider UMWOG share option. only possible risk for icon is if the whole deal is called off and this is unlikely.

Posted by crazy127 > 2017-01-21 13:27 | Report Abuse

Will adjust to Icon 63 = UMW same price....Icon go up, umw down for next week

Posted by John Lu > 2017-01-21 13:39 | Report Abuse

Tin kosong Flying Chicken Head talk nonsense holland no 1 sifu Calvin rank 151...how many ppl participate in 2017 stock pick? Is 170 ppl mean he is bottom 20....haha...shame like no tomorrow


151) calvintaneng +3.0% http://klse.i3investor.com/servlets/pfs/71329.jsp
21% DUTALND 0.435 0.400 49800|20% BJCORP 0.355 0.340 58600|20% BPURI 0.440 0.435 45800|20% OPCOM 0.605 0.600 33200|19% PBA 1.150 1.150 17300

Posted by DON_JUAN > 2017-01-21 15:14 | Report Abuse

holland kaunter

Posted by stockmanmy > 2017-01-21 15:27 | Report Abuse

its viable for arbitrageurs....its PNB you know!

Posted by SHQuah > 2017-01-22 08:56 | Report Abuse

PROPOSED ACQUISITION OF 497,768,820 ORDINARY SHARES OF RM0.50 EACH IN ICON OFFSHORE BERHAD (ICON) (ICON SHARES), REPRESENTING 42.3% EQUITY INTEREST IN ICON, FOR A PURCHASE CONSIDERATION OF RM248,884,410 OR RM0.50 PER ICON SHARE TO BE SATISFIED VIA THE ISSUANCE OF 311,105,513 NEW ORDINARY SHARES OF RM0.50 EACH IN UMW-OG (UMW-OG SHARES) AT AN ISSUE PRICE OF RM0.80 PER UMW-OG SHARE (PROPOSED ICON ACQUISITION); AND PROPOSED MANDATORY GENERAL OFFER (MGO) FOR ALL THE REMAINING ICON SHARES

Posted by SHQuah > 2017-01-22 09:00 | Report Abuse

AN ISSUE PRICE OF RM0.80 PER UMW-OG SHARE (PROPOSED ICON ACQUISITION); AND PROPOSED MANDATORY GENERAL OFFER (MGO) FOR ALL THE REMAINING ICON SHARES

What Does that mean ?
1) 50 sen cash for each ICON share after delisted ? or
2) 80 sen UMWOG share for each ICON share ? or
3) 80% of closing UMWOG share price ?

Please advise.

Posted by stockmanmy > 2017-01-22 09:20 | Report Abuse

that means you can exchange 8 Icons for 5 UMWOG or cash at 50 sen each Icon.


your choice depends on prices then.

Posted by YS Babe > 2017-01-22 09:30 | Report Abuse

my friend says this, very simple, the swaps UMWOG shares par value 50 sen, but valued at 0.80 sen, my friends says la

Posted by MrPauper > 2017-01-22 13:50 | Report Abuse

But one of the IB values UMWOG at around 68 sen only. So could be either cashing out 8 icon shares @ RM4.00 in total or exchange for 5 UMWOG shares fair valued @ RM3.40 for the short term

Posted by limch > 2017-01-22 14:42 | Report Abuse

If take 311,105,513/497,768,820 you get 0.625 meaning 1000 Icon share you end up with 625 UMWOG shares after consolidation. If UMWOG at 73 sen better take 50 sen cash.

Posted by SHQuah > Jan 22, 2017 08:56 AM | Report Abuse
PROPOSED ACQUISITION OF 497,768,820 ORDINARY SHARES OF RM0.50 EACH IN ICON OFFSHORE BERHAD (ICON) (ICON SHARES), REPRESENTING 42.3% EQUITY INTEREST IN ICON, FOR A PURCHASE CONSIDERATION OF RM248,884,410 OR RM0.50 PER ICON SHARE TO BE SATISFIED VIA THE ISSUANCE OF 311,105,513 NEW ORDINARY SHARES OF RM0.50 EACH IN UMW-OG (UMW-OG SHARES) AT AN ISSUE PRICE OF RM0.80 PER UMW-OG SHARE (PROPOSED ICON ACQUISITION); AND PROPOSED MANDATORY GENERAL OFFER (MGO) FOR ALL THE REMAINING ICON SHARES

Posted by ForwardInvestor > 2017-01-22 20:20 | Report Abuse

institution will arbitrage, so they will maintain at a certain price level.

Posted by arcadicus > 2017-01-23 15:13 | Report Abuse

why keep selling @ 46c???

Posted by SHQuah > 2017-01-23 15:55 | Report Abuse

buying at 46c got 50c.
Can get 8.7% interest or profit in short period.
Better than FD.

Posted by MusangK1ng > 2017-01-23 15:56 | Report Abuse

8.7% IS RISK PREMIUM

Posted by arcadicus > 2017-01-24 08:28 | Report Abuse

Icon Offshore Bhd (+ve)

SHARES in Icon Offshore Bhd (fundamental: 0.20/3, valuation: 0.90/3) triggered our momentum algorithm last Friday for the third time this year. A total of 54.7 million shares were traded compared with a 200-day average volume of 1.4 million shares.

The company was red-flagged by our proprietary algorithm, suggesting that investors should exercise extra caution when trading in its shares.

The counter was one of the most actively traded on Bursa Malaysia after it announced that UMW Oil & Gas Corp Bhd (UMW-OG) would buy Ekuiti Nasional Bhd’s 42.3% stake in Icon Offshore.

UMW-OG will then undertake a mandatory general offer for the remaining shares in Icon Offshore at 50 sen apiece, to be satisfied by either cash or issuance of new UMW-OG shares at 80 sen apiece. UMW-OG does not intend to maintain the listing of Icon Offshore.

The exercise marked the beginning of consolidation among local oil and gas players amid a challenging landscape in the industry.

The offshore support vessel operator’s shares reached an intraday high of 48 sen before paring gains to close up 6.9% or three sen at 46.5 sen.

http://www.theedgemarkets.com/my/article/stock-momentum-icon-offshore-0

Posted by arcadicus > 2017-01-24 09:14 | Report Abuse

upuppupupup..... 46.5 now

Posted by SHQuah > 2017-01-26 09:27 | Report Abuse

How much Do I need to pay for right issues for UMWOG, how many warrant do I get ?
Can I sell my Right issues ?

Posted by stockmanmy > 2017-02-01 12:30 | Report Abuse

icon is now a bond not an equity.

Posted by lachai2004 > 2017-02-01 13:20 | Report Abuse

if you buy at 0.46 n surrender for corporate exercise for 0.50 cash, then the return is about 8%

Posted by SHQuah > 2017-02-01 14:06 | Report Abuse

if UMWOG above 80 sen. Taking up UMWOG, how much do I need to pay for right issues ?
How many Right issues and free warrant ?

Posted by arcadicus > 2017-02-02 11:11 | Report Abuse

why..... why...... huge lots sell @ 46c???? why they sell r???

Posted by SHQuah > 2017-02-02 11:27 | Report Abuse

Hope no bad news ?
Maybe the due has change ?

Posted by cooling > 2017-02-02 11:38 | Report Abuse

bad news
there is no free lunch in this world

Posted by SHQuah > 2017-02-02 11:39 | Report Abuse

PNB don't play play with announcement.

Posted by cooling > 2017-02-02 11:51 | Report Abuse

this counter already sayonara

Posted by Imran Latiff > 2017-02-02 16:37 | Report Abuse

Hello sifus. newbie here. I have 20k shares in Icon. With the recent MGO, what do I do if I were to convert all to UMW OG shares? How many shares do i get? If i dont opt to convert then automatically i get rm.50 per share? Really confusing :p

Posted by PeterNg > 2017-02-03 09:39 | Report Abuse

Hi Imran,
ICON will hold a EGM, vote for this resolution. Need 50% share holder to approve before proceed.

Calculation
1000 ICON >> 1000 UMWOG
RM 0.50 >> RM 0.80

1000 unit ICON = 1000 x 0.5/0.8 = 625 unit UMWOG
20000 unit ICON = 20000 x 0.5/0.8 = 12500 unit UMWOG

Posted by Hunter Cho > 2017-02-03 10:10 | Report Abuse

when it comes to voting, sorry guys i shall vote no to the deal. UMW try to get ICON cheaply no way....

Posted by Hunter Cho > 2017-02-03 10:12 | Report Abuse

oil prices have now started to move slowly at this very initial stages and UMW wants to move fast???

Posted by Hunter Cho > 2017-02-03 10:13 | Report Abuse

also the effect of trump on IRAN has not even been factored into the equation yet??

Posted by Hunter Cho > 2017-02-03 10:17 | Report Abuse

also brand new assets from ICON already worth more than 0.6

Posted by arcadicus > 2017-02-03 10:28 | Report Abuse

agree with Hunter Cho...

guys.....say NO to the deal