Highlights
KLSE: ARMADA (5210)       BUMI ARMADA BERHAD Main : Trading&Services
Last Price Today's Change   Day's Range   Trading Volume
0.70   -0.01 (1.41%)  0.67 - 0.705  41,453,200
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Overview

Market Cap: 4,107 Million
NOSH: 5,867 Million
Avg Volume (4 weeks):6,576,305
4 Weeks Range:0.67 - 0.78
4 Weeks Price Volatility (%):
27.27%
52 Weeks Range:0.50 - 0.84
52 Weeks Price Volatility (%):
58.82%
Average Price Target: 0.83
Price Target Upside/Downside: +0.13

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2017[#1]  |  31-May-2017
Next QR | Est. Ann. Date: 30-Jun-2017  |  26-Aug-2017
T4Q P/E | EY: -2.20  |  -45.35%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.96  |  0.73
T4Q NP Margin | ROE: -134.57%  |  -33.07%

Market Buzz

Date Type Subject
22-Jun-2017 Price Target Bumi Armada - Suspending Armada Perdana
Source : PUBLIC BANK, Price Call : BUY, Price Target : 0.90
Last Price : 0.70, Upside/Downside : +0.20(28.57%)
22-Jun-2017 Price Target MQ Research: “Neutral” on Bumi Armada’s Contract Suspensions
Source : MACQUARIE GROUP, Price Call : BUY, Price Target : 1.00
Last Price : 0.70, Upside/Downside : +0.30(42.86%)
22-Jun-2017 Price Target Bumi Armada - Notice of Suspension Issued
Source : KENANGA, Price Call : BUY, Price Target : 0.90
Last Price : 0.70, Upside/Downside : +0.20(28.57%)
22-Jun-2017 Price Target Bumi Armada - Suspension of Armada Perdana
Source : HLG, Price Call : HOLD, Price Target : 0.72
Last Price : 0.70, Upside/Downside : +0.02(2.86%)
22-Jun-2017 Blog Mplus Market Pulse - 22 Jun 2017
22-Jun-2017 Blog Mplus Market Pulse - 22 Jun 2017
22-Jun-2017 Blog Mplus Market Pulse - 22 Jun 2017
21-Jun-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 131,100 shares on 16-Jun-2017.
20-Jun-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 18,900 shares on 15-Jun-2017.
16-Jun-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 100,000 shares on 13-Jun-2017.
19-Jun-2017 Insider ENCIK SHAHARUL REZZA BIN HASSAN (a company director) was dealing with company shares on 16-Jun-2017.
19-Jun-2017 Insider MR LEON ANDRE HARLAND (a company director) was dealing with company shares on 16-Jun-2017.
22-Jun-2017 Forum 41 New Comments

Headlines

Latest Headlines
22/06/2017  MQ Research: “Neutral” on Bumi Armada’s Contract Suspensions
22/06/2017  Bumi Armada - Suspending Armada Perdana
22/06/2017  Mplus Market Pulse - 22 Jun 2017
22/06/2017  Mplus Market Pulse - 22 Jun 2017
22/06/2017  Mplus Market Pulse - 22 Jun 2017
22/06/2017  Bumi Armada - Suspension of Armada Perdana
22/06/2017  Bumi Armada - Notice of Suspension Issued
15/06/2017  Mplus Market Pulse - 15 Jun 2017
15/06/2017  PublicInvest Research Headlines - 15 Jun 2017
01/06/2017  Bumi Armada Bhd - Sizeable orderbook to sustain growth
01/06/2017  Bumi Armada: 1Q17: Start Of A Turnaround, Aided By Olombendo And Malta
01/06/2017  Bumi Armada: Returning to Black
01/06/2017  Bumi Armada (BUY, maintain) - Counting on Kraken
01/06/2017  Bumi Armada - Storm Clouds Dissipating, Clearer Skies Seen
01/06/2017  Bumi Armada - 1Q17 Within Expectations
01/06/2017  Bumi Armada - Upgrade on Firm Earnings
01/06/2017  Mplus Market Pulse - 1 Jun 2017
01/06/2017  Bumi Armada - Moving Into Safer Waters
27/04/2017  TECHNICAL BUY - ARMADA (5210)
23/03/2017  Bumi Armada - Low Termination Risk for Kraken

Business Background

Bumi Armada Berhad is a Malaysia-based international offshore oilfield services provider. The Company is engaged in the provision of marine transportation, floating production storage and offloading system (FPSO) operations, vessel construction, and engineering and maintenance services to offshore oil and gas (O&G) companies. It provides services through its ownership and operation of marine assets across the O&G value chain; from exploration through to field development and construction, production and operations and eventually, decommissioning. It serves clients in over 10 countries across Asia, Africa and Latin America. Bumi Armada provides these offshore services via four main business units and two support units. The main business units are FPSO, Offshore Support Vessels (OSV), Transport & Installation (T&I) and Oilfield Services (OFS). On October 4, 2011, the Company acquired Bumi Armada Russia Holdings Limited .
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  17 people like this.
 
bones tomorrow will buy some also . slow slow buy
21/06/2017 17:11
spinninglotus Time to enter....this is the way man....
21/06/2017 17:18
shpg22 Going to revisit 0.50 ??
21/06/2017 17:48
sheep BUMI ARMADA BERHAD - NOTICES OF SUSPENSION ISSUED TO ERIN PETROLEUM NIGERIA LIMITED IN RELATION TO THE OPERATIONS OF FPSO ARMADA PERDANA

BUMI ARMADA BERHAD

Type Announcement
Subject OTHERS
Description BUMI ARMADA BERHAD
- NOTICES OF SUSPENSION ISSUED TO ERIN PETROLEUM NIGERIA LIMITED IN RELATION TO THE OPERATIONS OF FPSO ARMADA PERDANA
Bumi Armada Berhad’s ("Bumi Armada" or the "Company") wholly-owned subsidiaries, Bumi Armada (Singapore) Pte Ltd (“BASPL”) and Armada Oyo Limited (“AOL”), have each issued a notice of suspension (“Notice of Suspension”) to Erin Petroleum Nigeria Limited (“EPNL”), a subsidiary of Erin Energy Corporation, to suspend the provision of services by BASPL and AOL under the Operational and Maintenance Services Contract (“O&M Contract”) and Bareboat Charterparty Contract (“Charterparty”) respectively (“Contracts”). The suspension of operations is due to longstanding delays in the Charterparty payments due to AOL, as well as irregular payments on the O&M contract to BASPL.



Details of the Contracts

(i) O&M Contract
On 17 February 2014 BASPL entered into the O&M Contract with Oceanic Consultants Nigeria Limited (“Oceanic”) for the provision of operation and maintenance services for the FPSO Armada Perdana (“FPSO”) deployed at the Oyo Field Development located offshore of Nigeria. On 25 March 2014, Oceanic, novated its rights and obligations under the O&M Contract to EPNL.

The O&M Contract was further amended by the letter agreement dated 30 June 2015 between BASPL, EPNL and AOL.

(ii) Charterparty
On 17 February 2014, AOL entered into the Charterparty with Oceanic for the charter of the FPSO by AOL to Oceanic. On 25 March 2014, Oceanic novated its rights and obligations under the Charterparty to EPNL.

The Charterparty was further amended by the letter agreement dated 30 June 2015 between BASPL, EPNL and AOL.


Details of the Notices of Suspension
BASPL and AOL had, on 16 May 2017, after repeated attempts to arrive at a mutually acceptable solution to both parties, issued Notices of Overdue Payment and Letters of Demand (“LOD”) to EPNL in which BASPL and AOL had demanded immediate payment of undisputed outstanding sum. To date, EPNL has not responded to the notices and LOD.

The suspension does not relieve the EPNL of any of its own obligations under the Contracts.


Operational Impact

(i) O&M Contract
BASPL is suspending the performance of its obligations under the O&M Contract with effect from 12.00 p.m. Lagos time (5.00 p.m. Malaysia time) on 21 June 2017 except for the critical maintenance and other activities to mitigate occupational health and safety and environment risk.

(ii) Charterparty
AOL is suspending the performance of its obligations under the Charterparty with effect from 12.00 p.m. Lagos time (5.00 p.m. Malaysia time) on 21 June 2017.



Financial Impact

The outstanding sum claimed by BASPL and AOL has been fully provided for in the Bumi Armada Group’s financial statements. The suspension of operations is not expected to have significant impact on the full year 2017 financial results of the Company, the extent of which cannot be conclusively ascertained at this juncture.



Next steps

The Group continues to evaluate all its available options on this matter including the possibility of working with EPNL to arrive at an amicable solution. In the event that an amicable solution between the parties cannot be achieved, Bumi Armada will proceed with the next steps to fully enforce its rights against EPNL based on advice from external counsel.

Bumi Armada will continue to provide updates from time to time on any further material development on this matter.


This announcement is dated 21 June 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5467585
21/06/2017 20:36
JoshuaMS7 Bad news for armada?
21/06/2017 21:39
Apollo Ang delay of payment,how much? why dare not disclose?
21/06/2017 22:26
Lukesharewalker Already provided for.

See how market reacts
21/06/2017 22:37
Ibi_chan http://www.thestar.com.my/business/business-news/2017/06/21/bumi-armada-suspends-nigerian-operations-of-fpso-armada-perdana/

Back to 50cents?
21/06/2017 23:44
Apollo Ang delay payment amount is how much?
21/06/2017 23:45
Muhammad Hanafi why worry, this is the tactic to 'force' the charterer to paid. The same situation when you rent your house and the tenant did not paid the rent, hence you seal the house and the tenant will be force to pay you. Erin petroleum wanted to increase production and drilling operation in OYO field. so they need the FPSO to process and stored the oil. Erin petroleum commitment is still intact. they just short of cash for now..
22/06/2017 03:04
Muhammad Hanafi also remember armada kraken will hit first oil by end of this month. the fundamental of BAB is still intact
22/06/2017 03:05
Alex Chan Read cimb report. You will understand more. Provisions was made. Fundamental value has excluded this contract
22/06/2017 03:25
cooling tenant not paying means sign of canceling contract la....as simple as that
22/06/2017 04:03
JoshuaMS7 Oil price back to 42
22/06/2017 04:55
inorder mana itu talk kok sucker khat, still sucking, cannot open mouth?
22/06/2017 05:26
cooling CANCELATION OF 3 BILLION CONTRACT

http://www.thestar.com.my/business/business-news/2017/06/21/bumi-armada-suspends-nigerian-operations-of-fpso-armada-perdana/
22/06/2017 06:54
spinninglotus Gap down to 65cents?
22/06/2017 08:18
JoshuaMS7 gone ... no hope for breaking 0.800 anymore
22/06/2017 09:01
Lukesharewalker Cheap sales. Got some at 69.5
22/06/2017 09:09
volks2 tiu lor...don't catch a falling knife.
22/06/2017 09:12
suanmin this time is not a baby bear, is a huge bear.
22/06/2017 09:15
volks2 0.68 now..
22/06/2017 09:18
Lukesharewalker Panic sales ...the best
22/06/2017 09:18
hklcheng limit down...dont buy
22/06/2017 09:18
JoshuaMS7 free wall
22/06/2017 09:20
Lukesharewalker Be greedy when others fearful. Earnings has already been excluded from 1Q report.....no worries
22/06/2017 09:23
Lukesharewalker Hammer to form today
22/06/2017 09:26
nikicheong How wow! Haha. Now I got to think about topping up Armada too...So many things on sale in recent days...
22/06/2017 09:29
paktua73 hehe old man gila man
win bet 100k unit at 0.675
old man bodo one want throw money here
old man always silly one
22/06/2017 09:33
Lukesharewalker Sales will be over by to day
22/06/2017 09:34
nikicheong I mean what has changed guys? This is insane! So sad bullets will arrive tmrw, will need to wait for one day.
22/06/2017 09:35
Lukesharewalker Buy now...oversold
22/06/2017 09:37
JoshuaMS7 @nikicheong you can sell other shares to buy now lol haha
22/06/2017 09:38
nikicheong Guys, wasn't Bumi Armada already not recognizing profit from their Armada Perdana? In all the research reports you read, like from CIMB, it already says they are not taking into account and possible future profits from Perdana. This issue has been since 2015. Armada only collect Ops/Maintanence payments will allows them to breakeven, no more.

Anyway, these are glorious days to buy. Sadly today I do not have the means to enter. Just one day later...and I would have been good to go. I won't sell my other holdings though, Joshua.
22/06/2017 09:43
Lukesharewalker Pdts thinks it prefect timing ...hari raya plus bad news....fantastic for retailers to get in...Haha
22/06/2017 09:45
Lukesharewalker As of yesterday Epf still buying...
22/06/2017 09:57
Alex Chan Blockers and stoppers now...hmmmm...manipulated?
22/06/2017 10:19
Alex Chan Panic sales. No significant financial impact
22/06/2017 10:23
bones Bought some again today ..
22/06/2017 10:36
Alex Chan See if there is a giant sweep upwards in the 2nd session
22/06/2017 11:03
shpg22 STRONG SELL 0.50
22/06/2017 11:09
sokdotcom Perdana contract already not considered in the report. This is just market tactics by IB.
22/06/2017 11:43
MyInvest Looks better to wait till reach.50 and buy..
22/06/2017 14:38
ScrewDriver dont fight the tide
22/06/2017 14:53
JoshuaMS7 crazy volume queuing for 0.680 and 0.685!!
22/06/2017 15:00
jennalee Hope to get back here from my other losses
22/06/2017 16:22
JoshuaMS7 Finally the huge blocking has been defeated!!
22/06/2017 16:29
nikicheong Damn missed opportunity for tmrw
22/06/2017 16:40
paktua73 old man eat more 150k unit at 0.685 he he
old man on hand share 250k unit avvrge per share at 0.681
old man always crazy one tut tut
22/06/2017 16:45
nikicheong I hate this man... :(

Now onwards and upwards, hopefully no issue with Kraken delivery. Days are running out. Just one week left.
22/06/2017 16:57


 

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