UMW O&G proposed bid to acquire Icon Offshore and Orkim, both from Ekuinas may signal a start to a consolidation cycle in the local oil & gas sector, as players band-up due to the challenging environment. We also discuss Yinson's recent CRD project win in Vietnam and expected earnings contribution. 

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Tags:  Malaysia equities,  oil and gas sector,  oil and gas,  UMW O&G,  Icon Offshore,  Orkim,  Ekuinas,  Yinson,  capex cuts