Yinsoon boss knows it. Just offer a price to the minorities based on what's needed by the SC and Bursa. Slowly pushing it unnoticed and later inject it with liannex marine logistic assets.
Yinson boss {Lim} is a season businessmen with an excellent track record. Paying MYR 173 million to Ekuinas for the 50.2% stake in Icon {using Liannex as his investment arm} maybe just the beginning. Liannex, Yinson and Icon all have their niche in marine logistics and engineering. We cannot rule out possibilities of injection of certain assets and business into Icon. Afterall triggering the Go, getting the requlatory approval and all the nitty gritty from the authorities is exactly not a walk in the park. Certainly Yinson boss{Lim} have plans for Icon. You don't paid 174 million just for the sake to acquire a company. Something big must be brewing in his mind
Review of performance for the current quarter (Quarter ended 31st March 2024) against the prior year corresponding quarter (Quarter ended 31st March 2023): (i) Revenue The Group revenue decreased by RM12.8 million or 30%, from RM43.3 million in the prior year corresponding quarter to RM30.5 million in the current quarter, mainly due to low utilisation of vessels (late start of chartering due to monsoon season and planned maintenance). Overall utilisation for the current quarter was at 50% compared to 71% in the prior year corresponding quarter.
(ii)Profit after taxation The Group recorded loss after taxation of RM25.6 million in the current quarter compared to loss after tax of RM4.2 million in the prior year corresponding quarter. The significant increase in the loss after taxation was due to additional provision amounting to RM13.1 million related to charter of replacement vessels and impairment of receivables.
Date of change 30 May 2024 Name MR LIM CHERN WOOI Age 38 Gender Male Nationality Malaysia Type of change Redesignation Previous Position Executive Director New Position Executive Chairman Directorate Executive Qualifications No Qualifications Major/Field of Study Institute/University Additional Information
Working experience and occupation Family relationship with any director and/or major shareholder of the listed issuer Any conflict of interests that he/she has with the listed issuer Details of any interest in the securities of the listed issuer or its subsidiaries
Icon Offshore Berhad has demonstrated resilience and strategic growth, particularly with the recent renewal of long-term contracts with PETRONAS for 11 of its offshore support vessels (OSVs). These renewals are expected to significantly boost the company’s earnings and stability. Maybank Investment Bank (Maybank IB) projects a strong performance for Icon Offshore, forecasting a net profit growth of over five times in FY24 and a further 83% in FY25, translating to a two-year compounded annual growth rate (CAGR) of 204%
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....
5354_
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Posted by 5354_ > 2024-04-25 11:16 | Report Abuse
>RM 2 like Yinson?