AGM is full of shit la, whatever they say is shit, have u heard an AGM say "hey, shareholders, my company about to go bankrupt" of course they say good future all those shit, if u see their leverage you would know the company is in deep shit, OnG is not going to turn around ever, the supply is going to be constant but the demand is going to drop in the near and far future
the problem with Malaysia O&G sectors is almost all dependent on Petronas contracts. No contract = no biz. So many malay businessman suffer now cos most Petronas contracts given to malays
All because BN in power. Why they list so many O&G counters in the past? If no good just don't list.
tralala AGM is full of shit la, whatever they say is shit, have u heard an AGM say "hey, shareholders, my company about to go bankrupt" of course they say good future all those shit, if u see their leverage you would know the company is in deep shit, OnG is not going to turn around ever, the supply is going to be constant but the demand is going to drop in the near and far future 29/05/2017 17:21
I thought that O&G is specialized biz requiring people with specialized knowledge in this field of trade. I just noticed that that most of the Board of Directors are bloody accountants. Accountants are normally great at numbers crunching..they are not renown to have great biz acumen. When the going get tough, great/tough bizman get going. Unfortunately with a board full of accountants I suppose in board meetings they can discuss Icon numbers instead of how to grow Icon biz!!! Useless Directors..apparently accountants...can't even get the QR accounts out early. Last day and after 5pm still can't get those figures out shows that they are useless accountants. LOL
Calvin Tan was right spot on when he call to dump Icon shares few months back
Change or no change, doesn't matter. As an organisation managed mainly by accountants (not businessman), goodness, if can't run business, at least do what they are (apparently) good at i.e. being accountant. That also don't know how to come out with the QR on time. There are companies with operations all over the world with diversified businesses that can report on time (Moreover Directors are not accountants), yet, Icon, small company with mostly one customer and probably 20 sales invoice a quarter, can't produce their QR within 2 months from the QR date. If properly managed, they should be able to report within 2 weeks after the QR date. I understand some European and American listed conglomerates produces their annual accounts within 2 weeks of year end. Malaysia boleh..Icon boleh
Decided to cut loss. May rebound in july if got contract, i don't know. But looking at the debt and cash flow, it's horrible. Perisai and alam are example we can't deny.
Icon loss about 6 Million as compared to last quarter RM146 Millions. Finally, they managed to reduce their OPEX.
If they maintain their current performance and with all their secured contract that they have now, they should be able to make profit more than RM150 Million in the next quarter.
The price is at the bottom range and I believe it 's good time to enter now. Good Job Icon !
Agree with JoshuaMS7..should be below 20sen. Excluding deferred tax gimmick and impairment/fair value gain(also accounting gimmick), Icon at its best per annum makes < 2 sen per share (EPS < 2sen). Petronas also cutting production, how to earn more than 2 sen per share.
iHunter...BOLEH KAH NEXT QTR make RM150M profit?? That is around 13 sen per share. If can then share price would continuously limit up few weeks to reach RM2.60. That would set some sort of Guiness record!!!!
The directors of ICON few of which are accountants..they are an embarrassment to the accountancy profession. How on earth can they produce accounts that doesn't even comply with Companies Act
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....
Pribumi
65 posts
Posted by Pribumi > 2017-05-23 16:56 | Report Abuse
BN cannot protect Tabung Haji better let Pribumi or PH does.