Sure dropping like a rock recently.
Nobody there to cheer it up a bit?
I almost left, but still attached to counter emotionally after 5 years. . .

Turns out I bought a few 10+ thousands after all ... took three day to get a fill at 0.43. Maybe very long queues?
Let us hope for a few more dips on the way to Q3.

As my guru, IK says, this counter is under strict control. Now allowed to move out of the range. But still can purchase on edges of that range. Inside it is the operator profit margin for market making.

Good luck all.

I guess Claire news is a scam?

We closed down slightly. Very good. Another buy opportunity.
Now I wonder if I got my fill?
Yinson to Armada conversion nearly complete.

What a trick with the Armada Clair. Nobody bought it.

Welcome to this counter ican. I decided to take my profit of the table. Doubled my money. So I hope I leave some for you on the table - for when the second contract is achieved.
That will boost profits.

First brazilian contract for income.
Snd contract for efficiency and profit.

I am NOT buying the company to own but shares to sell later on. And as bad as this company has been to me and other investors over the years, it has potential to go up. Having said that, basic reasoning is:

I remember yinson having 5 FPSO, all chartered a few months ago.
I remember armada having 2 moored - unused, 5 chartered.
Yinson 5 wins 0 dogs
Armada 5 wins, 2 loses

Now yinson has 1 new for Brazil, 1 unused FPSO in vietnam, 1 new so 6:1 (losing on 1)

Armada sold one (perdana) so it is 6:1 (losing on 1)

The score is even ... yet price difference tremendous. Eventually, luck had to strike Armada and eventually Yinson got the misfortune too.

Time to adjust to this new situation.

I will collect some more shares of BAB tomorrow. I am interested if I will be able to get a fill at last price traded. As I said, last time I bid 42, 42.5, 43 and got zero shares over 2 days. I have no idea how the operator is doing it. Of course, I am not entering market price. I bid at the last traded price for 2 days to no avail. I sold my Yinson at the same time and any time I entered such price it was transacted within an hour or so. So Armada and Yinson trading are much diferent. I get yinson trades fill, but no Armada.

I was not thinking much about comments on who is buying, lot size, etc, but now I see that I am not able to get a transaction without better insight.

Sure our entry and sell price are immmensely important for short termers. Not as much for me, but still do not want to give my money to traders (shorties) who live on the spread. Or is it giving money to the OPERATOR...?

Despite all the problems, I see Armada as better value and prospect than Yinson.

This counter is closely manipulated by the OPERATOR. Now I realize that IK is right. I put my bid in the queue, but did not get a single share. At 43, 42 and 42.5 sens. Even though blocks changed hands when I was in queue.
I now believe that they will keep it in range they want.
So people can purchase more shares a bit more than the operator blocks next week.
Volume of investors so small that almost no impact on the insider manipulators.

Good weekend everyone.

Big push back from OPERATOR coming but I am NOT able to collect any.
They put big queues and taking it down themselves.
What a system they have.

Need more action to break out from their control.

Thanks for IDSS news IK. I see there is not so much volume. They keep longer short is my guess.

BRACE YOURSELF.
Selling wave coming.
Last hour. Long weekend.
Or is it just a dip with buying opportunity?
I hope that 40c will not be broken like 3 days ago in last hour.

I told you guys. OPERATOR will not allow for shares to go up now. They are collecting. And IDSS no need to close the week balance as there was sufficient volume down. Means a very week closing of the week.
Facts are now in front of you.

Down 2% and more to come soon.

I just sold my 2,200 shares. Will confirm later. Looks like I caused the market for carimin to crash 5%. And it is only 2k. Sorry.
But if insiders sell, so will I.
Upset they have no faith in company that feeds them.

Tomorrow expect those who bought short term to sell. They will not keep it over long weekend. Too much risk for them.
Also, buyers will wait till next week. Shorties no need to buy because 3% limit was invoked.
And operator keeps it low to pick up cheap shares.
So we need to wait a little or buy on dips.

Simple.

:)))))))))

I have made a reasonable profit and going out. Only 2,200 shares left, so will not break the market selling them.
Moving to Bumi Armada which I have had with carimin for 5 years now.
I bought them both at same price of 1 myr. Armada now below 0.5.

Will try to make profit on that one too. It is just taking longer.

I guess management of carimin is doing better job.

My order to sell at 1.28 is in.

Bye all

:-)

Not much price appreciation after such good news. Let's wait for the second one. Risk discount will be removed for the BEST FPSO company (most profitable).

I have personally seen cracks in the FPSO's that nobody was doing about them. At that time they said it was paint splitting (possibly ???) and the asset still in operation a few years after. They could have evaluated more and asked to stay at minimum staff. Could have waited for more info. Then stocks would still go up. Trigger effect really not neaningful.

I bet the manager did not know what to do ... but wanted to show how decisive he was. I know it is platform, but same procedures ...

I am sure everyone saw cracks on the roads. All fixable. Sure costs more to fix those at platform.

There was simply enough people who worried about share price ... we gone up too fast to quickly.

Today is finally some possibility for Shorties to make a decent profit.

They have to earn money too. Respect.

I added a million at 38.5 sens. I thank you for this opportunity.
I am staying here for a while, so no worry about me dumping.

I also added some for 0.49. Panic buy. A bit too early. So nobody can time this market.

Not a problem at all. Will be back to normal soon.

If it stabilizes above 7 myr today ... likely to grow a bit more. Let short term profit takers sell. So far it is managed.

I can wait a bit with most of my stake.

Wow, and I was ONLY speculating about it 2 days ago. Yes, the past is already included in price discovery. This will take a few days to be capitalized. Announcements, recommendations, price targets, etc.

:-)

Maybe suspended to announce brazil contract award news and increase future contract, but taking impairment on vietnam?
Figure it out.
I go with the future rather than past.

Do I read it well, as it says 1.32 MYR ???
Maybe it is some mistake as all here discuss reaching 1.28.

Wow. At loss of words.

I am here and not giving up on a 7.00+ MYR idea. And seems to be getting closer. It is a bit of rising tide lifting all boats though.

I guess vietnam thing already taken into the account by major player. It has recovered fully. I expect at least 7 myr this month.

The reality sets in. There was no reason for price of our investment to go up 50% on basis of selling asset (perdana) at 90 percent discount and some mumbo jumbo about monetizing assets. They proved themselves incapable of delivering what they should FPSO's to paying customers.

No need to be angry with the short sellers. Let them help us stabilize prices. Be angry with management. If they do their jobs right, short sellers will congratulate investors and disappear.

The worst stock in my portfolio is coming back now beyond purchase price. And since NOBODY here did as bad as me, all of the investors must be happy. So do not expect many selling without trying for an extra growth.
:-)

Let it stabilize and grow.

Best part:

Yinson Holdings Bhd is reportedly close to clinching one of the two Marlim FPSO contracts in Brazil, with Modec expected to land the other one. Once materialised, this would represent Yinson’s debut in the Brazilian market. We understand that Petroliam Nasional Bhd is expected to offer a 25-year charter contract, with commencement anticipated to be in 2022 to 2023. Elsewhere, Yinson is understood to be one of the front runners for Aker Energy’s Pecan FPSO off Ghana (against SBM Offshore) and may also be involved in tenders for Parque das Baleias FPSO in Brazil. Locally, Yinson, in partnership with MISC Bhd, is also reported to have submitted bid for Limbayong FPSO. We reckon that the overseas projects would have roughly a net capital expenditure size of US$1 billion (RM4.19 billion), while the Limbayong FPSO’s could be smaller at roughly US$700 million. Meanwhile, an expected strong earnings growth for FY21 would be underpinned by the commencement of FPSO Helang and FPSO Abigail-Joseph.

https://www.theedgemarkets.com/article/yinson-expected-get-25year-charter-job

I am not an expert on the market moves ... but I do not see any short squeeze coming today. Gravity works.

Possibly deploy more funds in the 20's. That seems reasonable to me in current conditions. I checked similar stocks and no recent run ups there.

Why they even need to borrow money?

1. They just sold an FPSO and 6 supply vessels as people here tell me for good money.
2. And after 20 years in business no money for a new project???

Something is wrong.

I think that 3 insiders selling at same time relates to some type of option lock in period. They now can dispose of bonus shares they received at discount.
In a way ... it is free money for them.
And yes, when I look for carimin, they describe it as momentum stock frequently. Keeps going up by itself because it went up.

Good that those insider options were small.

Although todays filing indicate this encik hamdan sells a lot. Seems some family members involved. Who is he?
Not a single insider purchase in months.

Insiders sell.
Oil down.

This stock goes up.

It was hurting too much in the past.
Now seems almost too good to be true.

Good Luck all who stick to it with me.

Well ... Insiders sell like there is no tomorrow.... Do they know anything?

__________________________________
4-Sep-2019 Insider MR LIM YEW HOE (a substantial shareholder) disposed 100,000 shares on 20-Sep-2019.
24-Sep-2019 Insider ENCIK MOKHTAR BIN HASHIM (a substantial shareholder) disposed 50,000 shares on 20-Sep-2019.
24-Sep-2019 Insider MR LIM YEW HOE (a company director) disposed 100,000 shares at 1.060 on 20-Sep-2019.
24-Sep-2019 Insider ENCIK MOKHTAR BIN HASHIM (a company director) disposed 50,000 shares at 1.060 on 20-Sep-2019.
24-Sep-2019 Insider TAN SRI DATO' KAMARUZZAMAN BIN SHARIFF (a company director) disposed 69,500 shares at 1.072 on 20-Sep-2019.
23-Sep-2019 Insider ENCIK MOKHTAR BIN HASHIM (a substantial shareholder) disposed 200,000 shares on 19-Sep-2019.
23-Sep-2019 Insider ENCIK MOKHTAR BIN HASHIM (a company director) disposed 200,000 shares at 1.072 on 19-Sep-2019.

Possibly, but it is nice to have stock that pays dividends...

I am not complaining.
____________________________________
Financial Year 31-Jan-2020
Subject Interim Dividend
Type Dividend - Normal or Special
Description Interim Single Tier Dividend of 4 sen per ordinary share
Amount RM 0.04
Ex Date 27-Nov-2019
Entitlement Date 28-Nov-2019
Payment Date 20-Dec-2019

Looks like we have a new bottom.
:-)

Geco ... thanks for the answer based on the fact rather than insults.
Yes, there is risk issue here and all mitigation (hedging) costs money.
I will still likely get more shares, but expect them at lower price.
Run up unwarrented. Kraken still sub par.
Talks about IDSS sales only presumption.
You do not know who seller is.

I will wait a bit.

If what JC wrote is true, and finance costs are 0.5 billion... which seems reasonable as 5% from 10 billion debt, then one needs to sell 20 FPSO like perdana. And I am being generous that they will get 50 million (Only 4.5 million cash paid, probably in exchange of credits/debts).

So I see run up as a result of perdana sale unjustified. Show me the earnings over long time.

______________________________________________
Posted by Johnchew > Sep 23, 2019 11:26 AM | Report Abuse

1) Armada debt ?? 11.5 billion
2) Gearing ratio ?? WSJ 1x...local article : 2x ..2.7x
3) yearly finance cost?? 528 million

Gravity is a bitch.
And as reality gets out, it blinds the eyes of the believers.

Too much gain too fast. Many could not even add to position. But the market always comes back to retrace the gaps. I think we had 4 sen gap.
This will be the buying range.

Well, this is now at the highest level for 5 years. Unless there are people here longer then me, which is unlikely - nobody can be really unhappy. All making profit. New contracts in. Good going.
Sat here all the way down a few years ???
Just sit tight a few months on the way up !!!

Yes, very strong resistance at 0.3 that wave cannot break.
Need to do candle heating to weaken the top then goes up with 'pig mount.'
And 0.4 is concurred.
Whatever it means.

Where is the reason ???

Are we going to break 0.3 or 0.4?

My bet would be that we longs will be able to purchase in 20's soon.

It was good to see excitement here but reality will sink in soon.

Claire is not a solution to anything. Do the math.

So all talk about war, 100 dollar oil, future earnings improvement and stock is up 1 sen ????
I am a bit underwhelmed by all this. Was supposed to be 0.4 MYR as per most comments.
What will happen tomorrow if there is no such news?

_______________________________________
Some of the production could be restored in days. But Bloomberg reported, based on a source, that “Aramco officials are growing less optimistic that there will be a rapid recovery in production.” Saudi Arabia can use part of its stock of about 645 million barrels of crude and petroleum products to make up for lost production in the near term. But “Aramco could consider declaring itself unable to fulfill contracts on some international shipments – known as force majeure – if the resumption of full capacity at Abqaiq takes weeks.”

I thought it wast just a short squeeze, but there we are ... another nice gain. Thank you yemeni houthi rebels.
Expecting things to settle over the days though. Things never look as exciting few days down the road.

For me it will be buying opportunity then.
:-)

Seems like many here made a mistake by selling few days too early.
But cannot blame them for not anticipating crude price increase.
:-)
This is a very nice gift for all us long in this stock.

Long term effect on us as profit margins of clients improve.

Seems like insiders made a mistake by selling 2 days too early.
But cannot blame them for not anticipating crude price increase.
:-)
This is a very nice gift for all us long in this stock.

Just when everyone so proud of selling FPSO and 6 OSV, latest report:
DO not want to pay money to receive what is revealed in the title ...
________________________________________________________
Global Offshore Support Vessel Services Market to Expand with Significant CAGR During 2019-2025
September 16, 20193 Min Read

This oil price spike is so much more meaningful than the Perdana sale.
Looks like longs may be saved from correction.
And those in more stocks will be handsomely rewarded soon.

Not feeling bad about missing another nigerian contract. Or any west african. Agree with RJB7 on that.

Not being racist costed me dearly in the past...
Thnks for good sense comment
.......................................................


Stock: [ARMADA]: BUMI ARMADA BHD

Sep 14, 2019 2:50 PM | Report Abuse

I don't mean to be a racist...Nigerian scam is called a Nigerian scam for a reason.

I hope people from Ghana are not trying to catch up with that reputation. Else, Yinson might break armada's record. Record in dropping in a day.

Good to see so many happy people ... but not everyone entered recently.
Even some members here have way to go to recover their investment.

The performance of this stock is not that good compared to others.
Yinson doubled in a year and never dropped much in 5 years ... now all time high
Carimin now 5 year high with 9 cents up today ...
Baltic index 3 x from the bottom.

In our case:
BAB went down from 2.4 to 0.15 and now at 0.3
Management lost 2.2 myr shareholder value and recovered 0.15 recently !!!
This is one of the biggest shareholder value destruction exercises.

This may have the highest potential because it is the biggest screw up.
Encouraging is that 3 main figures disappered in May (thanks InvestorKing).

Cheerleading after asset sale for 5 million and not much talk about 1.3 billion project is really strange focus...

Many IDSS give me more reasonable input than bulls here.

Sometimes even insiders do not know what they are doing. They sold 3 days too early and lost a lot of potential profit.
:))))))))
We did not.

Someone here talked about big players offloading.
Seems like insiders do.
But funds will pick up at 1 myr +++

13-Sep-2019 Insider MR WONG KONG FOO (a substantial shareholder) disposed 150,000 shares on 11-Sep-2019.
13-Sep-2019 Insider MR WONG KONG FOO (a substantial shareholder) disposed 150,000 shares on 10-Sep-2019.
13-Sep-2019 Insider CIPTA PANTAS SDN. BHD. (a substantial shareholder) disposed 150,000 shares on 11-Sep-2019.
13-Sep-2019 Insider CIPTA PANTAS SDN. BHD. (a substantial shareholder) disposed 150,000 shares on 10-Sep-2019.

Isn' t that just a short squeeze before long weekend?
Covering ....

Next week will come ....
All things come to balance.

FINALLY !!!

It has been 5 years in the waiting and I am BREAKING EVEN.

Sure I can wait a bit to make some profit now. Been so long, can put a bit more patience.

Congratulations all.

I cannot even imagine that woodside would terminate without right paperwork. We shall see in a few months.Mentioned here, they simply did not extend.
Since I am long, I hope I am wrong. But I think that earnings have to be earned most of the time, rather than rewarded.

What is the commment about not able to find food because being stupid? Then sohai.... then ramble about expats ...
That is just distracting from issues.
You are losing control.


___________________________________________________________________

A CONTRACT IS A CONTRACT

YOU GIVE ME A LOI TO BUILD A NEW SHIP FPSO AND I TAKE A LOAN TO BUILD IT AND AFTER WORKING FOR 50% OF THE CONTRACT PERIOD YOU BEING NOT A BANKRUPT AND STILL HAVING SIMILAR BUSINESS CAN LEAVE ME I DEBTS WITHOUT ANY RELIEVE.
THE WILL SHOW WOODSIDE HAS NO CREDIBILTY WITH ITS SUPPLIERS AND CONTRACTORS UNLESS WOODSIDE PAYS UPFRONT FOR ALL ITS PURCHASES AND CONTRACTS.