PETALING JAYA: Icon Offshore Bhd
is expected to be profitable this year driven by its million ringgits worth of contract for its newly acquired jack-up drilling rig.
Maybank IB Research estimated that Icon would turn profitable in the financial year 2021 from its rig’s ops, generating a net profit of US$6mil-US$8mil per annum, while its offshore support vessel (OSV) operation would lower lowers its losses on thanks to higher utilisation level at 62%.
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