Highlights
KLSE: ARMADA (5210)       BUMI ARMADA BHD MAIN : Energy
Last Price Today's Change   Day's Range   Trading Volume
0.18   -0.01 (5.26%)  0.18 - 0.19  38,316,900
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Overview

Market Cap: 1,058 Million
NOSH: 5,877 Million
Avg Volume (4 weeks):109,024,635
4 Weeks Range:0.18 - 0.25
4 Weeks Price Volatility (%):
0.00%
52 Weeks Range:0.145 - 0.795
52 Weeks Price Volatility (%):
5.38%
Average Price Target: 0.31
Price Target Upside/Downside: +0.13

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2018 [#4]  |  28-Feb-2019
Next QR | Est. Ann. Date: 31-Mar-2019  |  31-May-2019
T4Q P/E | EY: -0.46  |  -217.70%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.5695  |  0.32
T4Q NP Margin | ROE: -95.88%  |  -68.81%

Headlines

Date Subject
21-May-2019 Evening Market Summary - 21 May 2019
14-May-2019 Evening Market Summary - 14 May 2019
14-May-2019 Bumi Armada - Seucred Third FPSO Project in India
13-May-2019 Evening Market Summary - 13 May 2019
09-May-2019 Evening Market Summary - 9 May 2019
08-May-2019 Evening Market Summary - 8 May 2019
08-May-2019 布米阿马达 高负债抑增长
07-May-2019 Evening Market Summary - 7 May 2019
07-May-2019 Bumi Armada - Bagged the ONGC FPSO Contract
07-May-2019 ARMADA: Kenanga Research maintains UNDERPERFORM with lowered Target Price of RM0.190 (Source: Kenanga Research)
07-May-2019 Bumi Armada - Financing needed for new ONGC FPSO
07-May-2019 Bumi Armada Berhad - New ONGC FPSO Contract
07-May-2019 Bumi Armada Berhad - First FPSO Charter Contract Secured for the Year
07-May-2019 Bumi Armada - Secured Third FPSO Project in India
07-May-2019 Bumi Armada - Contract Award from ONGC
05-May-2019 Bumi Armada (5210) Accumulation
03-May-2019 Evening Market Summary - 3 May 2019
02-May-2019 Evening Market Summary - 2 May 2019
02-May-2019 Technical Buy: ARMADA (5210)
30-Apr-2019 Evening Market Summary - 30 Apr 2019

Business Background

Bumi Armada Bhd is a Malaysia-based international provider of offshore energy facilities and services. The company’s revenue is derived from business segments including floating production, storage, and offloading, or FPSO, operations; floating gas solutions; and offshore marine services. Under the FPSO unit, vessels are designed to meet the requirements of a customer’s reservoir and operational environment. Alongside this unit, the company engages in the production and imports segments of the liquefied natural gas value chain through its floating gas solutions segment. Furthermore, support and construction vessels are offered to a range of international customers under the offshore marine services segment. The company also provides a slew of support services to customers.
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  22 people like this.
 
LeslieGoh Sure make money this round...
23/05/2019 12:08 PM
KAQ4468 ada on ka pak tua ??
23/05/2019 12:11 PM
goldenmamba93 anyone know when QR out? after AGM?
23/05/2019 12:16 PM
VenFx I hope paktua
Stay health and immune from diseases

As poo still very full in here.kikiki
23/05/2019 12:18 PM
InvestorKING Leslie, still didn't see any 1000lot buy volume at 0.19?
23/05/2019 12:24 PM
InvestorKING But only got see 9lot buying at 0.19, is that u Leslie?
23/05/2019 12:26 PM
siaoliao paktua so rich , save all the red counter
23/05/2019 12:36 PM
InvestorKING The shark purposely put the dayang bad news into Armada klse post, but didn't see them put into sapura page??? Purposely created fear for us to throw our shares
23/05/2019 12:51 PM
InvestorKING If at 0.20 or above, we will throw la, now at this 0.185 to 0 19 , how to throw?

It's ridiculous super cheap price already, totally super undervalued
23/05/2019 12:52 PM
InvestorKING If really bad quarter result out again this time, it will drop back to 0.17 to 0.18, or worst come to worst, back to 0 15 again
23/05/2019 12:53 PM
InvestorKING Anyway, afternoon session, I think big shark is forcing shorties to borrow more shares to short again, so we will see the price drop to 0.18 - 0 185, unlikely close flat at 0.19, and 100% impossible up to 0 195
23/05/2019 1:03 PM
MengYew Super promoter promote across the border
23/05/2019 1:17 PM
InvestorKING If don't promote, big shark will keep on cheating us
23/05/2019 1:32 PM
InvestorKING Actually oil price didn't drop much, and it's still above 70 , which is quite safe, actually above 60 also considered safe, because most oil companies can still make money above 40 to 45 range
23/05/2019 1:39 PM
InvestorKING Oil price just dropped abit but all journalists writing so terrible on big price drop especially the edge
23/05/2019 1:40 PM
signalmw P17 soon like barakah
23/05/2019 1:54 PM
SuperPanda Barakah already default but Armada still can breath at least till next year
23/05/2019 2:14 PM
freddiehero wah lau... u mean pn17 0.005 ?
23/05/2019 2:16 PM
SuperPanda Barakah -ve cash flow but Armada +ve cash flow
23/05/2019 2:17 PM
InvestorKING True superpanda
23/05/2019 2:23 PM
InvestorKING Btw, this buying queue at 0.185 is purposely attracting shorties to short more
23/05/2019 2:24 PM
InvestorKING Mike Kim, u should eat up all the shares at 0.185, I believe this super cheap price is worth to buy
23/05/2019 2:40 PM
shpok4574 investorking, why dont u eat up all shares at 0.185
23/05/2019 2:47 PM
moneypedia aiyoo too much promoting, will make it look fishy or fish and chip or fisherman laa
23/05/2019 2:49 PM
moneypedia kuang kuang kuangggg
23/05/2019 2:49 PM
shpok4574 Based on the financial review of Armada with the latest addition of the 2 out of 3 GOOD NEWS, it was determined that (basically, nothing has changed from previously!) :-

PROOF – ARMADA REVENUES ARE NOT ENOUGH TO SETTLE DEBT
PROOF - 14.25 YEARS TO FULLY SETTLE DEBT IF REVENUE STABLE FOREVER BUT ITS FIRM IS ONLY UP TO 6.5 YEARS!
PROOF - NOT ENOUGH TO SETTLE INTEREST AND TAXES
PROOF – ARMADA CANNOT GET ANY MORE FINANCING

Armada’s ability to secure new contracts is likely to be 0%

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 and INDONESIA.
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.
PROOF - You cannot bid for contracts if you do not have donor tankers.
PROOF – Armada’s recent FPSO is a lemon.

6.5 years to go or 27 Quarters to go. RM80 million net profit per Quarter optimistic assumption. That means RM2.1 billion in profits.

Rm20.5 billion confirmed sales for next 6.5 years. Actual operations profit from Rm20.5 billion is around Rm8.5 billion. Rm8.5 billion has to pay for everything under the Gross Profit line. And this doesn't include principle debt payments of Rm12.5 billion. Q results don't matter. And when oil industry recovers in 2030, Armada's assets are nearly 20 years old. End of life.

It is enough to pay off the RM13 billion debts (excluding interest)?

HOW TO MEET THE RM5.5 BILLION DEFICIT???

How much ADDITIONAL new revenue is needed for Armada?

=================================
Around RM13 billion in new sales / revenue.
=================================

That is not going to be achievable for Armada since it no longer has the reputation to get new contracts.

So it’s the crunch time now. What are the options available to the shareholders?

1. Take Armada private
2. Sell Armada
3. Dispose assets to continue to try to survive

1. Taking Armada private

Do you think that the main shareholders want to do so when Armada is an endless money pit with gutter reputation? Finance 101, get rid before you incur more losses.

2. Sell Armada

No one is buying Armada in this market until 2030. And the new shareholders have to deal with an incompetent management.

And new owners have to come up with an additional RM5 billion to pay off its debts.!!

3. Dispose assets to continue to survive

Assets are worth nothing as long as the market doesn’t recover until 2030. The asset are still being valued too high. Disposing assets wouldn’t be enough to settle Armada’s debts anyway.

With the review of the latest results, it was exceeding our expectations. Our view is now further reinforced that Armada will default. How much time left before Armada defaults? It would be next year when it defaults.

Despite the enthusiasm on the following: -

Speculated improvement in cash flows - Insufficient in 2020
Speculated settlement on Claire - Circa 25% of the asking compensation by Armada
Speculated award of new contracts - Nil probability
Speculated sale of assets - Highest bidder bidding at 10% of current NBVs

Armada would not be aggressively pursuing debt restructuring negotiations if the above were not in positive light. A highly anticipated default will still happen.

Given that the option to take private, to sell out and sell assets are not viable for Armada, what route will Armada take in such a event? PN17 and administrators will come in for sure.

We expect that Armada will be broken into many pieces. For the FPSOs, it would be taken over by their respective JV partners and other assets will be sold off to the highest bidder.

We expect institutional funds to lose all investments and creditors will not be paid 80% what is owed to them while debtors will be taken to court wherever possible.

As for the main shareholder, they have already clawed back their investments when they part disposed in 2011/12.

Looks like its "ride the train for as far as you can" before it breaks down.
23/05/2019 2:51 PM
InvestorKING THE largest off-market transaction during the week in review was at Bumi Armada Bhd, which saw 173.4 million shares, or 3% equity interest, cross in block trades. The shares were transacted at 21 sen to 24.5 sen apiece.

The parties involved in the trades were unknown at the time of writing. Between the close of April 30 and May 7, Bumi Armada’s share price fell 9% to 22 sen. On May 7, the offshore support vessel operator announced that its joint-venture company, Shapoorji Pallonji Bumi Armada Godavari Pte Ltd, was awarded a nine-year charter contract worth US$2.1 billion.
23/05/2019 2:57 PM
kariwong9394 High risky and share price always stagnant & not moving... Will lock your capital at least few month till few year cz their contract is 9yrs. so the client has 9yrs time to see the profit, which is very long...

Client might be suka suka then not call work.
23/05/2019 3:12 PM
IronShirt Dayang Biz is similar to Armada----today blood Bath
23/05/2019 3:35 PM
InvestsucessTrader All O&G stocks useless, sell all and buy other stocks better,
23/05/2019 3:39 PM
Bug62 Every stock is down lah.
23/05/2019 3:56 PM
moneypedia selll selll selll lai lai lai sell yeahhhhhhhhh abislahhhhh
23/05/2019 4:02 PM
InvestorKING Knm overtake Armada already
23/05/2019 4:39 PM
T800Terminator Wah EPF dump non stop. Take care comrades.
23/05/2019 4:41 PM
paktua73 done fight for today.
will fight more tomorrow

tut tut
always fight on red sea
23/05/2019 5:01 PM
shpok4574 tomorrow drop again, really crazy stock
23/05/2019 5:25 PM
InvestorKING What klse2you sifu said is right, the Armada operator will create fear to the market first, sifu said armada operator after fully absorbing all the shorties shares, before the quarter announcement, the price will close at around 0.17-0.175 (but sifu said operator this round might make it closing 0.16 to 0.165, or 0.18 to 0.185, because this operator keep changing strategy, but unlikely close at 0.195 or 0.20 ), then will shoot rocket up
23/05/2019 9:16 PM
InvestorKING According to klse2you sifu, he said high volume game counter, Armada operator will keep absorbing n absorbing till their target achieved, if number of shares achieved, then only the price will up
23/05/2019 9:22 PM
InvestorKING Actually klse2you sifu said the price range that Armada will trade these few days before the quarter announcement, is within 0.160 to 0.19 range, sifu said operators will try whatever ways to create fears for public n funds n also stupid shorties to sell the shares at cheapest price, that's why sifu said in these few days time, price is unlikely back to 0.19-0.20 range
23/05/2019 9:26 PM
signalmw Bank give tp very low suddenly
23/05/2019 9:26 PM
InvestorKING So we just see whether klse2you sifu said accurate or not, tomorrow n next few days we will know
23/05/2019 9:27 PM
Bullbursa Sell everything while still can..big crash coming. Foreign funds been selling everyday...keep it cash now and buy other blue chips at 50% disc or more...by then Armada worth .08 only
23/05/2019 9:31 PM
Bullbursa Armada is no hope counter....sell now and keep the cash...mkt is crashing. Current mkt sighs are telling you to run, don’t giv urself false hope. This time is real
23/05/2019 9:35 PM
Bullbursa Don’t just look at armada...look at other stocks..u know that big doom is coming....
23/05/2019 9:37 PM
GoodTrade Brent oil price big drop to $68.xx ... Wall Street bloodbath ... Europe bloodbath ...
23/05/2019 9:47 PM
MahjongAuntie It is at downtrend now. Buy in or look for other oil counter?
23/05/2019 9:58 PM
MahjongAuntie The price is unstable too
23/05/2019 9:59 PM
paktua73 wait at 0.17

tut tut
23/05/2019 10:02 PM
RotiChic01 Heavy disposal by epf....gonna take note on that.....
23/05/2019 10:04 PM
alistino TheEdge Thu, May 23, 2019 - 9 hours ago


TheEdge Thu, May 23, 2019

THE largest off-market transaction during the week in review was at Bumi Armada Bhd, which saw 173.4 million shares, or 3% equity interest, cross in block trades. The shares were transacted at 21 sen to 24.5 sen apiece.

The parties involved in the trades were unknown at the time of writing. Between the close of April 30 and May 7, Bumi Armada’s share price fell 9% to 22 sen. On May 7, the offshore support vessel operator announced that its joint-venture company, Shapoorji Pallonji Bumi Armada Godavari Pte Ltd, was awarded a nine-year charter contract worth US$2.1 billion.
23/05/2019 11:22 PM


 

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