Worth to buy!
Please advise your valuable comments. .
Pending announcement ex- date: 1 for 1 right issue at 0.15 with 1 free warrant. (Warrant exercise price: 0.15)..
On behalf of the Board, TA Securities wishes to announce that the Company had, via its legal counsel, filed a petition to the High Court of Malaya on 22 August 2014 in relation to the Par Value Reduction from 0.20 to 0.15
Business Times (NST)
8 August 2014 @ 12:39 AM :
MRB expects more revenue from quarry
KUALA LUMPUR: Minetech Resources Bhd (MRB) expects its quarry products segment to contribute up to 50 per cent to the company’s revenue by next year from 34.5 per cent in 2013. Group executive director Matt Chin Leong Choy said the target will be driven by new quarry developments in Perak which will likely start operations by the third quarter of this year. “We are raising RM20 million from a right issues exercise to acquire two new quarries. By purchasing and owning quarries, we expect to improve profit from the sales of output from the sites.”
Still under discussion....
Minetech, could likely see a tie-up with the Sany Group and that the cooperation could be centred around the construction of a hotel and casino in Cambodia or even go a step further should Sany decide to take up a substantial stake in Minetech.
Sany International is a member of China’s Sany group, which is mainly involved in the manufacturing of heavy machinery.
Sany is listed on the Shanghai Stock Exchange and has a market capitalisation of more than RM60bil.

Petronas, however, accounted for 80% of Icon's revenue last year and heavy dependence on the state oil firm could work against Icon if Petronas decides to scale back its plans.

BNP Paribas, Credit Suisse and Maybank Investment Bank were joint global co-ordinators of the IPO.

Moreover,

Malaysia's Icon Offshore Bhd, whose ships offer support services for oil platforms, rose 12% in its market debut, with investors keen on its growth outlook given heavy capital spending plans by state oil firm Petronas.

Icon, 88% held by Ekuiti Nasional (Ekuinas), a government-owned private equity fund, is the country's largest pure-play offshore service vessel provider, with 32 ships and 14% of the domestic market.

It has a young fleet with an average age of 5 years compared to 11 for Southeast Asian rivals and is well placed to benefit from Petroliam Nasional Bhd's (Petronas) efforts to increase oil production.


What I can say, HOLD IS GOLD GUYS..

Icon Offshore's after-tax profit for the quarter ended March 31, 2014 jumped 525% to RM19.5mil from RM3.12mil a year earlier while its revenue came in at RM80.1mil, up 22.6% from RM65.3mil previously.

It raised RM944.9mil under its IPO. The amount raised was the top end of the guidance provided by the company which is majority owned by Ekuiti Nasional Bhd.

Icon Offshore was a merger between Tanjung Offshore Bhd's offshore support vessel (OSV) unit, which Ekuinas bought in 2012, and Omni Petromaritime Sdn Bhd in a deal put together by Ekuinas in 2012.