August 21, 2014 6:50 AM ET

Energy Equipment and Services

Company Overview of Icon Offshore Berhad

Company Overview

Icon Offshore Berhad, an investment holding company, provides offshore supply vessels and related services for the upstream activities of offshore oil and gas companies primarily in Malaysia. It owns, operates, and leases a fleet of 32 vessels that comprise 25 anchor handling tug/anchor handling tug supply vessels, 4 SSVs, 1 platform supply vessel, and 2 utility vessels. Its fleet provides logistical support for various stages of offshore oil and gas projects, including exploration and appraisal, field development, operation and maintenance, and decommissioning. The company also charter-in third party vessels as forerunner; provides ship management services to third party vessel owners; and ...

The Icon

East Wing, Level 12A

No. 1, Jalan 1/68F

Off Jalan Tun Razak

Kuala Lumpur,  55000

Malaysia

Founded in 1994

141 Employees

Phone:

60 3 2180 6300

Fax:

60 3 2165 1086

Key Executives for Icon Offshore Berhad

Icon Offshore Berhad does not have any Key Executives recorded.

Icon Offshore Berhad Key Developments

Icon Offshore Berhad Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Icon Offshore Berhad announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company's revenue was MYR 80.1 million compared with MYR 65.3 million a year ago. The increase was primarily due to additional revenue from new vessels acquired in subsequent nine months after quarter ended 31 March 2013 covering four Anchor Handling Tug And Supply vessels and one Platform Supply Vessel, continued to generate revenue in quarter ended 31 March 2014. Profit from operations revenue was MYR 33.8 million compared with MYR 17.2 million a year ago. Profit before taxation was MYR 19.7 million compared with MYR 4.05 million a year ago. Profit attributable to equity holders of the company was MYR 19.5 million or MYR 0.05 per diluted share compared with MYR 3.12 million or MYR 0.01 per diluted share a year ago. Net cash generated from operating activities was MYR 52.4 million compared with MYR 48.0 million a year ago. Purchase of property, plant and equipment was MYR 14.2 million compared with MYR 28.8 million a year ago. EBITDA was MYR 50.6 million compared with MYR 33.9 million a year ago. The increase was primarily as a result of the increased in the Group revenue by MYR 15.2 million. Adjusted EBITDA was MYR 50.4 million compared with MYR 33.9 million a year ago.

Ekuiti Nasional Bhd Hires Investment Bankers To Raise Funds

Ekuiti Nasional Bhd is set to make its first initial public offering by the middle of the year 2014 through Icon Offshore Bhd. Datuk Abdul Rahman Ahmad, Chief Executive Officer of Ekuiti Nasional Bhd said the government-owned private equity fund management company has hired three local and foreign investment bankers to handle the deal.

Icon Offshore Eyes IPO

Icon Offshore Bhd said that tehy intend to lsit, according to Reuters.

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