My view of the recent takeover by Singapore firm: -
1) Major shareholder changes from Ekuinas to Liannex Corporation. My view is that this is not a bad news cause of synergy with Yinson etc, plus the new major shareholder might be able to manage Icon better than the previous one (Yinson able to generate good profits)
2) I think the Singapore firm sees value in Icon, the firm has bought the shares directly from Ekuinas at price of 63.5cent which is normally a discounted price due to large portion acquired plus Ekuinas might need the cashflow to sustain themselves. 63.5cent will be the MGO price offered to the public but the public can choose not to accept it
3) Recent oil prices is high, investment in oil related activities will increase in the future, helped by decreasing sales in EV cars (EV momentum is decreasing)
4) Liannex plans to keep Icon listing status
5) Any movement downwards in share price will give Liannex opportunity to acquire more
I have no crystalball and cannot guarantee this but seems like TP could be RM1 within next 3 years as Icon is also due to renew their contracts at a higher rate and also synergy from the change in major shareholder
As for short term, the strategy is always to sell on news.. hahahahaha
Under Yinson, ICON will show its true capability. A blue chip in the making. Yes. TP rm1 is not a problem. The warrants is very cheap now going forward!
The reversal of impairment and unrealised gains in the quarterly figs has resulted a nett loss of 14 million { is an accounting and tax entry} which has no effect on their operating cash flows. The impending rates renewal which is forthcoming will see across the board upticks in ICON charter rates. Operating cash flows are the life blood of any company. In the O & G sector ICON is one of the few counters in the sector that have paid out dividends. A good opportunity to buy and hold based on their results. Not best of the best but have great growth potential. With Yinsoon as the captain aiding ICON can expect more positive momentum. Not a buy call but just my own view and personal take on their recent news announcement. Please do your own research before you buy or invest
Wow !That was 10 years ago. Icon was promoted by 8 cornerstone investor. Maybank , PNB , Tab Haji, CMY { RHB co founder } ,UOB, AIA and Nomura for the listing exercise
Lim Han Weng(Yinson boss) when can you join Icon management team? You only bought Icon shares how about bring Icon changes when are you planning to do?
Hold tight, KEYFIELD fly 100 % in the first day listing , AWB business has great potential , it will fly limit up too , market cap smaller than keyfield
I just received call from MBB bank said Icon regarded unconditional mandatory take over at cash offer price RM0.635. I rejected, why they offer this low price? Later they will push down the price to meet the unconditional mandatory take over?
Look at KEY field the newly listed oil & gas provider. The valuations is substantially much higher vs it's peer or icon valuations. Today traded 1.75 - 1.77 against its IPO price 90 sen
Depend on their intention. Normally those offering MGO at lower than market price, the intention is to get rejection from shareholders so they can retain the listing status. The MGO is compulsory by law, for those company taking over more than certain threshold of a listing entity. If the new owner intent to retain the listing status, they will normally offer lower than market price so the MGO will fail.
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....
maggigoreng
314 posts
Posted by maggigoreng > 2024-03-26 23:38 | Report Abuse
now 63.5 cts is firmly supported, let's see how much upside there is to this.