kimssiat Icon majority shareholder is Ekuinas which is 100% owned by government. Compare to other O&G counters(eg KNM, Alam, Perisai, etc) Icon is cheap now. Can be a target for takeover eg Puncak which want to enter O&G after exiting their water business.
In news we always hear many cases involve MACC checking even our PM Najib. Which MACC case end up in prosecution? Likewise Icon case so far no news meaning is good news.
According to Saturday Thestar paper, Petronas this year is producing more oil than last year. Down stream oil support is actually getting more job than last year.
Cheapest making money O&G counter. Time to buy more when people sell cheap. Cheaper than Perisai, Tg Offshore(loss making somemore) Alam, KNM, TAS, Pantech, etc why cannot buy?
I buy cheap stock to save money. Money saved can be used to buy more other stocks. If coming QR better than last QR what happen to those selling cheap?
July 30, the Secretary General of the Organization of the Petroleum Exporting Countries Abdalla Salem el-Badri will hold a meeting with Russian Energy Minister Alexander Novak to discuss the oil and gas markets. Russia and OPEC share a common interest in wanting to boost oil prices
Just a simple thought exercise. Icon has got 38 vsls (incl. 4 on order). At an average value of USD 8 mil/vsl this translates to roughly MYR 1.2 Bn. The Company has aprox. RM 700 mil debt. (from last yr financials). So net value attrib. to shareholders is approx. 500 mil. At RM 0.4/share the market value is roughly RM 470 mil. So is it currently undervalued?
Are you sure the average value per vessel is USD 8 million? Seems too simplified .....RM 30 million moh ! Can estimate like that kah ? Some may be due to be scraped. Hahaha....
Icon order book remain healthy over RM 800 million currently. This year still manage to get new O&G contracts meaning it is far better than many similar counters. Recent selldown is further chance to buy when cheap.
Oil & gas counters must compare with similar counters not orange with apple. Why those selling cheap but buy Perisai, Alam, KNM, TAS, etc at higher price? Somemore new contract won meaning all not too bad. Others(O&G) also cannot win contract.
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....
Oil_n_Gas
314 posts
Posted by Oil_n_Gas > 2015-07-05 15:59 | Report Abuse
If you check post IPO Tabung Haji has been steadily increase their stake even suffering huge loss. Are their fund managers dumb?
http://klse.i3investor.com/servlets/stk/annchsh/5255.jsp