Highlights
KLSE: ARMADA (5210)       BUMI ARMADA BHD MAIN : Trading&Services
Last Price Today's Change   Day's Range   Trading Volume
0.71   +0.01 (1.43%)  0.695 - 0.715  4,240,000
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Ann. Date Name Details of Changes Securities After Change View
Date Type No. of Shares Price Direct (%) Indirect (%) Total (%)
01-Aug-2011 ANDREW PHILIP WHITTLE 19-Jul-2011 Acquired 750,000 0.000 0.03 0.00 0.03 View Detail
01-Aug-2011 ALEXANDRA ELISABETH JOHANNA MARIA SCHAAPVELD 19-Jul-2011 Acquired 750,000 0.000 0.03 0.00 0.03 View Detail
01-Aug-2011 CHAN CHEE BENG 19-Jul-2011 Acquired 750,000 0.000 0.03 0.00 0.03 View Detail
02-Aug-2011 FARAH SUHANAH BINTI AHMAD SARJI 19-Jul-2011 Disposed 135,314,700 0.000 0.03 15.91 15.94 View Detail
02-Aug-2011 FARAH SUHANAH BINTI AHMAD SARJI 19-Jul-2011 Acquired 750,000 0.000 0.03 15.91 15.94 View Detail
02-Aug-2011 LIM GHEE KEONG 19-Jul-2011 Acquired 750,000 0.000 0.03 0.00 0.03 View Detail
02-Aug-2011 SHAHARUL REZZA BIN HASSAN 19-Jul-2011 Acquired 1,200,000 0.000 0.04 0.00 0.04 View Detail
02-Aug-2011 HASSAN ASSAD BASMA 19-Jul-2011 Acquired 2,500,000 0.000 0.09 0.00 0.09 View Detail
02-Aug-2011 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD 19-Jul-2011 Disposed 98,962,300 0.000 0.03 11.64 11.67 View Detail
02-Aug-2011 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD 19-Jul-2011 Acquired 750,000 0.000 0.03 11.64 11.67 View Detail
02-Aug-2011 SAIFUL AZNIR BIN SHAHABUDIN 19-Jul-2011 Acquired 750,000 0.000 0.03 0.00 0.03 View Detail
04-Aug-2011 DATO' AHMAD FUAD BIN MD. ALI 19-Jul-2011 Disposed 98,962,300 0.000 0.03 11.64 11.67 View Detail
04-Aug-2011 DATO' AHMAD FUAD BIN MD. ALI 19-Jul-2011 Acquired 750,000 0.000 0.03 11.64 11.67 View Detail
08-Aug-2011 FARAH SUHANAH BINTI AHMAD SARJI ("FS") 29-Jul-2011 Disposed 652,000 0.000 0.03 15.89 15.92 View Detail
08-Aug-2011 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD 29-Jul-2011 Disposed 500,000 0.000 0.03 11.62 11.65 View Detail
08-Aug-2011 DATO' AHMAD FUAD BIN MD. ALI 29-Jul-2011 Disposed 500,000 0.000 0.03 11.62 11.65 View Detail
08-Aug-2011 HASSAN ASSAD BASMA 29-Jul-2011 Acquired 2,500,000 0.000 0.17 0.00 0.17 View Detail
20-Sep-2011 DATO' AHMAD FUAD BIN MD. ALI 19-Sep-2011 Transferred 300,000 0.000 0.01 11.63 11.64 View Detail
20-Sep-2011 DATO' AHMAD FUAD BIN MD. ALI 19-Sep-2011 Transferred 150,000 0.000 0.01 11.63 11.64 View Detail
24-Nov-2011 SAIFUL AZNIR BIN SHAHABUDIN 23-Nov-2011 Disposed 12,000 3.910 0.03 0.00 0.03 View Detail
14-Mar-2012 SAIFUL AZNIR BIN SHAHABUDIN 07-Mar-2012 Disposed 25,000 4.250 0.02 0.00 0.02 View Detail
02-May-2012 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD 27-Apr-2012 Disposed 9,000,000 0.000 0.03 11.31 11.34 View Detail
02-May-2012 FARAH SUHANAH BINTI AHMAD SARJI ("FS") 27-Apr-2012 Disposed 284,000,000 0.000 0.03 6.19 6.22 View Detail
02-May-2012 DATO' AHMAD FUAD BIN MD ALI 27-Apr-2012 Disposed 9,000,000 0.000 0.01 11.33 11.34 View Detail
22-Aug-2012 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD 17-Aug-2012 Disposed 500,000 2.250 0.03 11.29 11.32 View Detail
22-Aug-2012 DATO' AHMAD FUAD BIN MD ALI 17-Aug-2012 Disposed 500,000 2.250 0.01 11.31 11.32 View Detail
22-Aug-2012 HASSAN ASSAD BASMA 17-Aug-2012 Acquired 2,500,000 2.250 0.34 0.00 0.34 View Detail
29-Mar-2013 HASSAN ASSAD BASMA ("HB") 19-Mar-2013 Others 6,500,000 3.770 0.82 0.00 0.82 View Detail
25-Jun-2013 SHAHARUL REZZA BIN HASSAN 19-Jun-2013 Others 1,250,000 3.800 0.18 0.00 0.18 View Detail
22-Jul-2013 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD 19-Jul-2013 Disposed 500,000 2.250 0.03 11.27 11.30 View Detail
22-Jul-2013 HASSAN ASSAD BASMA ("HB") 19-Jul-2013 Acquired 2,500,000 2.250 0.34 0.00 0.34 View Detail
03-Sep-2013 HASSAN ASSAD BASMA ("HB") 03-Sep-2013 Disposed 1,000,000 4.030 0.31 0.00 0.31 View Detail
16-Dec-2013 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD ("DATO' SRI FATHIL") 11-Dec-2013 Disposed 15,000,000 3.900 0.03 10.75 10.78 View Detail
23-Dec-2013 DATO' SRI MAHAMAD FATHIL BIN DATO' MAHMOOD ("DATO' SRI FATHIL") 18-Dec-2013 Disposed 90,000,000 3.780 0.03 7.68 7.71 View Detail
21-Jan-2014 SHAHARUL REZZA BIN HASSAN ("RH") 16-Jan-2014 Disposed 700,000 4.027 0.00 0.00 0.00 View Detail
21-Jan-2014 SHAHARUL REZZA BIN HASSAN ("RH") 15-Jan-2014 Disposed 500,000 4.030 0.00 0.00 0.00 View Detail
04-Mar-2014 HASSAN ASSAD BASMA ("HB") 24-Feb-2014 Others 6,500,000 3.970 1.04 0.00 1.04 View Detail
20-Mar-2014 ANDREW PHILIP WHITTLE ("AW") 19-Mar-2014 Disposed 100,000 0.000 0.02 0.00 0.02 View Detail
24-Mar-2014 ANDREW PHILIP WHITTLE ("AW") 24-Mar-2014 Disposed 150,000 3.880 0.02 0.00 0.02 View Detail
04-Apr-2014 ANDREW PHILIP WHITTLE ("AW") 03-Apr-2014 Disposed 100,000 0.000 0.01 0.00 0.01 View Detail
04-Apr-2014 ALEXANDRA ELISABETH JOHANNA MARIA SCHAAPVELD ("AS") 03-Apr-2014 Disposed 150,000 0.000 0.02 0.00 0.02 View Detail
03-Jun-2014 ANDREW PHILIP WHITTLE ("AW") 02-Jun-2014 Disposed 200,000 0.000 0.01 0.00 0.01 View Detail
14-Jul-2014 SAIFUL AZNIR BIN SHAHABUDIN ("SA") 10-Jul-2014 Acquired 100,000 3.160 0.03 0.00 0.03 View Detail
02-Sep-2014 CHAN CHEE BENG ("CCB") 29-Aug-2014 Acquired 170,000 0.000 0.03 0.00 0.03 View Detail
02-Sep-2014 HASSAN ASSAD BASMA ("HB") 02-Sep-2014 Disposed 2,500,000 0.000 0.22 0.00 0.22 View Detail
03-Sep-2014 HASSAN ASSAD BASMA ("HB") 03-Sep-2014 Disposed 500,000 0.000 0.20 0.00 0.20 View Detail
12-Sep-2014 CHAN CHEE BENG ("CCB") 09-Sep-2014 Acquired 300,000 2.900 0.04 0.00 0.04 View Detail
23-Sep-2014 SHAHARUL REZZA BIN HASSAN ("RH") 19-Sep-2014 Others 1,250,000 0.000 0.00 0.00 0.00 View Detail
29-Sep-2014 CHAN CHEE BENG ("MR CHAN") 17-Sep-2014 Others 610,000 0.000 0.03 0.00 0.03 View Detail
29-Sep-2014 CHAN CHEE BENG ("MR CHAN") 17-Sep-2014 Others 170,000 0.000 0.03 0.00 0.03 View Detail
29-Sep-2014 TUNKU ALI REDHAUDDIN IBNI TUNKU MUHRIZ ("TUNKU ALI") 23-Sep-2014 Others 5,000 0.000 0.00 0.00 0.00 View Detail
29-Sep-2014 SAIFUL AZNIR BIN SHAHABUDIN ("MR SAIFUL") 22-Sep-2014 Others 406,500 0.000 0.02 0.00 0.02 View Detail
30-Sep-2014 ALEXANDRA ELISABETH JOHANNA MARIA SCHAAPVELD ("AS") 15-Sep-2014 Others 300,000 0.500 0.01 0.00 0.01 View Detail
30-Sep-2014 SHAHARUL REZZA BIN HASSAN ("RH") 13-Sep-2014 Others 8,714,105 0.000 0.17 0.00 0.17 View Detail
30-Sep-2014 HASSAN ASSAD BASMA ("HB") 18-Sep-2014 Others 2,000,000 0.440 0.98 0.00 0.98 View Detail
30-Sep-2014 HASSAN ASSAD BASMA ("HB") 18-Sep-2014 Others 1,000,000 1.350 0.98 0.00 0.98 View Detail
30-Sep-2014 HASSAN ASSAD BASMA ("HB") 13-Sep-2014 Others 50,624,803 0.000 0.98 0.00 0.98 View Detail
17-Oct-2014 HASSAN ASSAD BASMA ("HB") 16-Oct-2014 Disposed 3,000,000 1.400 0.08 0.00 0.08 View Detail
17-Oct-2014 HASSAN ASSAD BASMA ("HB") 15-Oct-2014 Disposed 2,500,000 1.436 0.08 0.00 0.08 View Detail
17-Oct-2014 HASSAN ASSAD BASMA ("HB") 09-Oct-2014 Others 3,000,000 0.000 0.08 0.00 0.08 View Detail
21-Oct-2014 CHAN CHEE BENG ("MR CHAN") 09-Oct-2014 Others 610,000 0.000 0.04 0.00 0.04 View Detail
21-Oct-2014 CHAN CHEE BENG ("MR CHAN") 09-Oct-2014 Others 71,200 1.350 0.04 0.00 0.04 View Detail
21-Oct-2014 SAIFUL AZNIR BIN SHAHABUDIN ("MR SAIFUL") 09-Oct-2014 Others 406,500 0.000 0.03 0.00 0.03 View Detail
21-Oct-2014 TUNKU ALI REDHAUDDIN IBNI TUANKU MUHRIZ ("TUNKU ALI") 09-Oct-2014 Others 5,000 0.000 0.00 0.00 0.00 View Detail
21-Oct-2014 ALEXANDRA ELISABETH JOHANNA MARIA SCHAAPVELD ("AS") 09-Oct-2014 Others 300,000 0.000 0.02 0.00 0.02 View Detail
24-Nov-2014 HASSAN ASSAD BASMA ("HB") 24-Nov-2014 Disposed 1,078,100 1.395 0.05 0.00 0.05 View Detail
24-Nov-2014 HASSAN ASSAD BASMA ("HB") 21-Nov-2014 Disposed 421,900 1.360 0.05 0.00 0.05 View Detail
28-Nov-2014 HASSAN ASSAD BASMA ("HB") 28-Nov-2014 Disposed 40,000 1.175 0.05 0.00 0.05 View Detail
28-Nov-2014 HASSAN ASSAD BASMA ("HB") 26-Nov-2014 Disposed 220,000 1.361 0.05 0.00 0.05 View Detail
05-Dec-2014 HASSAN ASSAD BASMA ("HB") 04-Dec-2014 Disposed 1,740,000 1.030 0.00 0.00 0.00 View Detail
05-Dec-2014 HASSAN ASSAD BASMA ("HB") 04-Dec-2014 Disposed 1,000,000 1.020 0.00 0.00 0.00 View Detail
15-Dec-2014 HASSAN ASSAD BASMA ("HB") 11-Dec-2014 Acquired 500,000 1.048 0.01 0.00 0.01 View Detail
19-Dec-2014 HASSAN ASSAD BASMA ("HB") 17-Dec-2014 Disposed 300,000 1.083 0.00 0.00 0.00 View Detail
19-Dec-2014 HASSAN ASSAD BASMA ("HB") 16-Dec-2014 Disposed 200,000 1.080 0.00 0.00 0.00 View Detail
23-Dec-2014 HASSAN ASSAD BASMA ("HB") 22-Dec-2014 Acquired 250,000 1.048 0.00 0.00 0.00 View Detail
10-Mar-2016 ENCIK SAIFUL AZNIR BIN SHAHABUDIN ("ENCIK SAIFUL") 09-Mar-2016 Acquired 500,000 0.795 0.04 0.00 0.04 View Detail
19-Jun-2017 MR LEON ANDRE HARLAND 16-Jun-2017 Others 14,964,300 - 0.26 0.00 0.26 View Detail
19-Jun-2017 ENCIK SHAHARUL REZZA BIN HASSAN 16-Jun-2017 Others 2,648,900 - 0.05 0.00 0.05 View Detail
23-May-2018 MR LEON ANDRE HARLAND 15-May-2018 Others 2,137,800 - 0.04 0.00 0.04 View Detail
19-Jun-2018 MR LEON ANDRE HARLAND 18-Jun-2018 Others 6,426,900 - 0.33 0.00 0.33 View Detail
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  17 people like this.
 
Daydream RJ87, the oil price increase or decrease will not give much impact on the revenue of Bumi Armada. All the FPSOs are lease and operate in fix daily charter rate.
Eg. if the contract signed during oil price at USD60 and suddenly the oil price shoot up to USD80, it won't give increase in the revenue to Bumi Armada.
05/06/2018 11:22
Daydream Bumi Armada is a floater service provider and not end user. Only end user profit will be determined by oil price.
05/06/2018 11:24
pearlwhite Based on the financial review of Armada, it was determined that: -

PROOF – ARMADA REVENUES ARE NOT ENOUGH TO SETTLE DEBT
PROOF - 13 YEARS TO FULLY SETTLE DEBT IF REVENUE STABLE FOREVER
PROOF - NOT ENOUGH TO SETTLE INTEREST AND TAXES
PROOF – ARMADA CANNOT GET ANY MORE FINANCING

If this was presented in a pie chart, it would look like this: -

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Pie Chart of Total CASH FIRM ORDERBOOK

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Pie Chart of TOTAL CASH OPEX AND CASH DEBT THROUGHOUT FIRM ORDERBOOK

Before proceeding to review the ability of Armada to obtain new contract awards in the future, it is worth noting that whilst the OPTION period of the contract is very sizeable, it is fraught with the following risks, (some of which is happening now). Those risks are: -

Option periods are subject to a year on year renewal.
Option periods are subject to discounts / reductions.
Option periods are subject to termination.
Option periods if granted, would be used to settle long outstanding debts, as with the case of TGT.

It is because of these risks, the expected upsides in option periods are quite restricted.
05/06/2018 11:47
heima Try to push down the price to collect. will never tell the good points.
05/06/2018 13:59
pearlwhite Armada’s ability to obtain new contract awards in the future is considered difficult. The reasons are:


PROOF 1 - Lack of FDIs for the foreseeable future, at least until 2030.

FDIs do not increase in accordance with higher oil prices now for a few reasons. One, the artificial high oil price due to geopolitical concerns creates uncertainty for producers/majors/independents. Two, intervention by oil producers create price stability for consumers, but on the other hand create artificial pricing which again create uncertainty to oil producers/majors/independents. Three, existing shale producers re-enter the market without any barriers to artificially high oil price, thereby exasperating oil supply direction. Forth, FDIs needs years of planning and review and do not just re-engage within a year to due artificial oil price.


PROOF 2 - Armada has lost the momentum as a major player since 2014.

Armada lost to Yinson in ENI Ghana's Cape Tree Points FPSO project in 2015.
https://www.rigzone.com/news/oil_gas/a/136956/yinson_clinches_254b_fpso_contract_from_eni_for_ghanas_octp_block/?all=hg2

Armada lost to Yinson in Talisman's Vietnam Ca Rong Do FPSO project in 2017.
https://www.thestar.com.my/business/business-news/2017/04/26/yinson-nets-fpso-charter-contract-valued-up-to-rm4pt35bil/

In both cases, Armada was called front-runner, preferred contractor, in the finals, etc.


PROOF 3 - Armada has been without a business development / sales team since 2014.

Clientele engagement and bidding work begins years, typically 6 years, before actual contract award. Since 2014, Armada has not been engaging actively with its clients. It has only been recently that Armada has been looking to have a business development / sales team again.

https://www.linkedin.com/jobs/view/569573217/


PROOF 4 – Armada embroiled in various allegations from various countries including EU.
There are many allegations, from Africa, from EU to South America that are publicised in blogs or news articles. A few of the prominent ones are:

https://www.timesofmalta.com/articles/view/20180305/opinion/Silencing-adversaries-Denis-Tanti.672389

http://www.independent.com.mt/articles/2018-04-16/local-news/David-Casa-says-he-will-not-reveal-source-in-order-to-protect-the-person-s-life-6736188182

https://www.nytimes.com/2018/04/17/world/europe/journalist-murder-malta-eu.html

Such allegations even not proven yet in a court of law, is very detrimental to bidding of work.


PROOF 5 – Armada’s strategic direction is uncertain due to controversies with its major shareholder

http://www.business-standard.com/article/companies/malaysian-mogul-t-ananda-krishnan-to-lose-7-bn-due-to-failed-aircel-foray-118030100254_1.html

http://www.sundaytimes.lk/article/1036448/slt-ceo-dileepa-wijesundera-quits

https://www.bloomberg.com/news/articles/2016-09-24/india-issues-arrest-warrant-for-malaysian-billionaire-krishnan

Is Armada being led correctly to the correct path?


PROOF 6 – Armada’s behavior as a contractor has been one of litigation.

http://www.theedgemarkets.com/article/bumi-armada-gets-notice-erin-petroleum-seeking-shutdown-its-fpso-operations

https://www.offshoreenergytoday.com/woodside-ends-fpso-contract-bumi-armada-takes-legal-action/

Relations with its existing clientele are not very good and Armada has been taking the litigation route in many of its dealings.


These are the 6 factors that are do not go well with Armada’s attempts to bid for work in the future.
05/06/2018 15:03
maymay This Armada ..... Regret to buy it
05/06/2018 15:09
maymay Should CL?
05/06/2018 15:10
firehawk Is a great and rare event that members of the Board contributes to i3 forum :D

Hope this is not a psychological-pathetic-patient act.
05/06/2018 15:16
cth0712 what happen? why drop?
05/06/2018 16:40
RJ87 Bcos May May sold low lo.

For buy low and sell high to work, they need people to buy high and sell low.
05/06/2018 16:48
maymay Today most of the countes flying , but this Armada. .....
05/06/2018 16:48
signalmw ya... all oil price no mood
05/06/2018 16:51
maymay Don't no how long to freeze again
05/06/2018 17:01
cth0712 when brent oil $45-55, the price stay 0.70-0.75, when brent oil $78-80, the price 0.80-0.85 and almost touch 0.90, now brent oil $75 the price 0.71? really unfair...
05/06/2018 17:59
maymay Cth0712 , what is ur ep ?
05/06/2018 19:14
canjunming http://www.sinchew.com.my/node/1762465/阿玛达下半年盈利看俏%EF%BC%8E可重新审视股价
05/06/2018 19:17
RJ87 @pearlwhite, that’s a bunch of allegations. Just two things I’m interested to know. 1) How did BA reduce its debts in short time and 2) is there anyway BA revenue RM600 mil are artificially grown out of air. If so, how?

Personally, when I read editors from business time talk crap about a counter. I do little study and buy. When talk about great prospect and stuff, wait a week or two, it’s a good time to sell. That’s the intention of editors anyway. They are paid to do so. The most epic one is Talk shit two weeks ago and later talk how wind has change.

Anyway, financial statement I have posted. Highlight the numbers that you think it’s manipulated and rationalise from there rather than referencing to “editors”.
05/06/2018 20:31
cth0712 Maymay - what is EP?
06/06/2018 02:03
herbert 456 AK out in the news on privatisation of ASTRO? What's next?
06/06/2018 08:01
maymay Hi cth , entry price I meant . I in alots at 725 720 715
06/06/2018 08:05
herbert 456 judging by the volume traded this first 30mins of the open, looks like some good news coming out today....
06/06/2018 09:11
maymay Ya, hopefully . Long waited
06/06/2018 09:15
USApg Truly undervalue!!! See why epf sell all sapura and buy armada!!!
06/06/2018 09:55
maymay Indeed.. now only 735. Don't no when only can reach 800
06/06/2018 10:15
RJ87 That’s a million dollar question...if that’s how u trade, then really need a lot of luck...
06/06/2018 10:33
maymay Make a wild guess, what you all think the closing price for today?
06/06/2018 10:43
cth0712 Average down 0.76, hopefully from today onwards good trend
06/06/2018 11:44
maymay Ya, must stay above 745 baru cantik
06/06/2018 12:20
Er Xian will armada privatize by AK also? hahaha
06/06/2018 12:26
freddiehero wow im join in wih u guys. same boat.
06/06/2018 12:47
freddiehero im also feel save on hubline..
06/06/2018 12:48
maymay What so good for hubline? Mind to share ?
06/06/2018 13:58
mikekim Anything below 0.80 is a steal.
It's only temporarily hammered down because of foreign funds outflow.
Once the market sentiment stabilizes over government debt spooks, the foreign funds will return to push it back closer to RM1.
06/06/2018 15:13
freddiehero weldone..
06/06/2018 17:21
RJ87 judging by volume? How do you judge by volume? It only means there are equivalent interest of selling and buying. That only means equivalent amount of people think that Armada is overvalue and undervalue. To mean, that means nothing.
06/06/2018 19:41
itch Yes best to get more when below 0.8. If patient and can hold, can get big return!
06/06/2018 19:44
free2invest Try to lock in profit tomorrow
07/06/2018 22:54
julian1981 still can buy in?
08/06/2018 08:46
maymay I buy in again today ... Hope later up up all the way
08/06/2018 13:12
supersaiyan3 I think a good rebound to 85c is easily achievable.
09/06/2018 13:22
maymay Hope Armada can up up up all the way
11/06/2018 11:46
Sharewitch Expected annual Eps only 4 to 5 cents, doomed to be range bound until a new contract cometh
12/06/2018 20:45
pearlwhite Based on the financial review of Armada, it was determined that: -

PROOF – ARMADA REVENUES ARE NOT ENOUGH TO SETTLE DEBT
PROOF - 13 YEARS TO FULLY SETTLE DEBT IF REVENUE STABLE FOREVER
PROOF - NOT ENOUGH TO SETTLE INTEREST AND TAXES
PROOF – ARMADA CANNOT GET ANY MORE FINANCING


Additionally, Armada’s ability to obtain new contract awards in the future is considered difficult. The reasons are:


PROOF - Lack of FDIs for the foreseeable future, at least until 2030.
PROOF - Armada has lost the momentum as a major player since 2014.
PROOF - Armada has been without a business development / sales team since 2014.
PROOF – Armada embroiled in various allegations from various countries including EU.
PROOF – Armada’s strategic direction is uncertain due to controversies with its major shareholder
PROOF – Armada’s behavior as a contractor has been one of litigation.


Now that we have established significant headwinds for Armada, we are now going to analyse what options there are for Armada from the point of view of the Main Shareholder.


There have been various corporate exercises for Armada since listing in July 2011. If you were the initial shareholder since listing and excercised your rights under the various corporate exercises, Armada’s share price at your initial point of investment is RM2.20 per share thereabouts now.


As of the latest closing price, it is RM0.72, representing a loss of RM1.48 per share or nearly 67% or 2/3.

!!!!! THAT IS A LOT OF MONEY LOST BY THE MAIN SHAREHOLDER !!!!!

If there weren’t any EPF support, Armada’s share price would have even been lower.

HOW IS THE MAIN SHAREHOLDER GOING TO RE-COUP ITS LOSSES?
17/06/2018 16:25
DualShock @pearlwhite

So many proof.. wondering what is your recommended entry price ?
20/06/2018 11:46
RJ87 I only found one proof. pearlwhite is really stupid.

Who on Earth will hv one statement says
PROOF 2) - 13 YEARS TO FULLY SETTLE DEBT IF REVENUE STABLE FOREVER
and then say
PROOF 3) - NOT ENOUGH TO SETTLE INTEREST AND TAXES.

By right, if proof 3) is correct, then proof 2) is incorrect.

That just proved how bodoh pearlwhite is.

And why would EPF support le? Bcos, it's gonna be profitable soon and it's good entry point.
Anyway, pearlwhite, what's ur entry price. I follow you. *wink.

It just prove pearlwhite wants a better entry point. So, it's up to reader to decide if you wanna sell to pearlwhite low and buy back from him at higher price later.
20/06/2018 17:23
winriver I Agree now would be a good entry point
20/06/2018 19:57
pearlwhite Apparently most of the investors here have a conflict of interest in Armada by way of having its shares. And apparently, they are also unable to explain balance sheet changes even with the cash flow statement being disclosed.

Such is the level of financial prowlness of these investors.

We categorically state that we have no interest in Armada and hence no conflict of interest. We also categorilly state the have the RAKYAT interest at heart.

MORE TO COME.
21/06/2018 12:27
RJ87 I follow since 2015. The balance sheet and cash flow statement is so much better if compared 6 quarter ago. When it paid 1.2 billion in impairment and report crazy losses.

I doubt if you know what to look for from a QR. All you know is go read people’s blog instead of having any of your own thinking ability and make reasonable judgment based on fact. Sad part is 2016 write-up still referred in 2018.

People get over their shit storm and moved on liao la brother. Now revenue above 600million for straight 4 quarters. Higher than 2012-2014 when it was trading at above 2 bucks. That’s a FACT. Not opinion.
22/06/2018 01:30
RJ87 If u r not comfortable with the risk. Feel free to go Yinson. It’s decent. But definitely not Trading at what’s its worth if compared to armada.

How low can company making 600mil revenue go at 70sen, 20sen below its NTA if compared to a company trading at RM4.65 with 250mil revenue trading at 2.6x its NTA.

What are the odds? Which one has a limited downside and which one has better upside. Use common sense please!
22/06/2018 01:46
free2invest If exercise your common sense, it shouldn't be that cheap. It must be something not right. So you have to use your super brain to think deeply, rather than just common sense.
23/06/2018 09:27


 

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