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2023-11-04 14:38 | Report Abuse
I cannot understand this article. Precommissioning is done before introduction of hydrocarbons. That would be done in Singapore, not now as they claim. Kick off is usually a meeting before they start activities. So there should be months between kick off and production. Yet they say days.
Seems like AI article when correct sentences from different articles are glued into incomprehensible mess.
2023-10-24 11:05 | Report Abuse
Buy high, sell even higher on hope of more good news.
Prive performance underwhelming.
2023-10-19 22:51 | Report Abuse
OK. I guess it is reaction to budget. General sentiment. Today back to normal.
Fewer comment than normal on most O&G forums.
2023-10-18 22:51 | Report Abuse
-10 sen drop ? At the same time armada is -1 sen.
What the heck happened ?
2023-10-18 11:42 | Report Abuse
My take:
Situation at the company reverted to the same old.
It looks like it is going back to the price level from 1 year ago.
x
2023-10-17 08:47 | Report Abuse
And now, back to the same old, same old.
2023-10-16 11:03 | Report Abuse
Sell on team that already brought company down.
2023-10-09 16:07 | Report Abuse
View of Armada by the Yinson investor. Of course, he thinks that Yinson is a better value proposal. Makes a few good points... Niki makes similar point that they seem unable to take up a new project.
_____________________________________________________________________
Bumi Armada (Malaysia) – limited financing capacity to take on new lease contract
Bumi Armada was doing well until the collapse of oil prices in 2014. The oil price crash exposed some of its customers as not being as financially sound as they seemed, and it began to record impairments on its trade receivables. Multiple project delays and terminations have resulted in an aggregate impairment of over RM5 billion since 2014. This includes approximately RM1.8 billion for the FPSO Armada Claire and RM1.6 billion for the FPSO Armada Kraken.
The FPSO Armada Claire was delivered to the Belnaves field in 2014 but did not achieve final acceptance. In 2016, Woodside terminated the contract for the FPSO, citing "performance-related issues." This may have been coincidental, but it also happened to be a time when oil prices were low and the Belnaves field was experiencing a sharp production decline. Bumi Armada challenged Woodside in court but lost the case in 2022.
The FPSO Armada Kraken was impaired due to project delays, underperformance, and low uptime availability.
In 2017, Bumi Armada suspended the operations of FPSO Armada Perdana following irregular payments for the operation and maintenance services, together with long-delayed charter by independent oil and gas operator Erin Energy Corp, which filed for bankruptcy shortly after.
In the last 6 years, it has only secured one new FPSO job, with a 30% stake. This suggests that the company may have limited design and engineering capacity, as well as financing capacity, in the near term to take on sizable jobs.
2023-10-09 09:28 | Report Abuse
With this crude oil rally it is only a matter of time before yinson soars. Get ready.
2023-10-08 22:43 | Report Abuse
I had this stock 1 month ago. I sold and you do not hear from me. I just do not understand why some overstay the welcome.
2023-10-05 23:31 | Report Abuse
This means that Russia is getting a lot more money for its oil and gas. At the same time, they do not need to import as they learnt to source local products. Simple. Like China that keeps yuan low. 😊
2023-10-05 10:37 | Report Abuse
I moved from Yinson to Armada a few years ago. You guys are lucky to stick here.
The drama of Armada - every month there is something to make you lose your sleep.
And the rating of this gem here are absolutely stunning.
I come to look and calm my nerves. Also see how a good job can be done.
All gems are expensive though.
2023-10-03 20:17 | Report Abuse
I miss selling out a few years ago. My advice - stick to it (HODL).
2023-10-03 13:41 | Report Abuse
Wow, price targets now close to RM4.00. Not bad.
And dividends declared.
Congratulations to long term share holders.
2023-10-01 17:46 | Report Abuse
I just discovered this company. A buy, except for the EGM and electronics diversification plans. What came upon them. Hope it is voted down. Then I buy.
2023-09-28 18:23 | Report Abuse
That is great news. Thank you. Hope it can work out. Fingers crossed for the minority shareholders here.
2023-09-28 16:50 | Report Abuse
Tomorrow will be an interesting day. Oil prices swing up and down ... time for Hibiscus 🌺 to show more vitality.
2023-09-24 14:22 | Report Abuse
Well, we are back to normal price range. Volume dropped to almost zero.
Let us hope the trader will not attack any more.
Moves should occur normally by buying pressure.
No sudden share raids with re-posting them on resale at higher level immediately after transaction.
2023-09-22 10:02 | Report Abuse
I only know Fred Flintstone from the tv cartoon. Let us meet Fred Tham.
2023-09-19 12:37 | Report Abuse
Yes, good action on Alam this week.
But all this buying seems to be coming from one buyer .... a trader.
He purchases large volume instantly. But he will want to sell at 0.040.
But at new level there is NO BUYING PRESSURE WHATSOEVER.
I expect stock to go back soon.
Ordinary investors, like ants, drop small amounts, packet by packet at 0.035.
Only a few fake transactions of 100 shares at 0.040
2023-09-14 11:50 | Report Abuse
Madura BD field, which was discovered in 1988 is located approximately 65 km East of Surabaya and 16 km South of Madura Island, contains reserves of 422 BCF (billion cubic feet) of natural gas and 18.7 MMBBL (million barrels) of condensate. The development project of Madura BD field is able to produce approximately 100 MMSCFD (million standard cubic feet per day) of gas and 6,000 BCPD (barrels condensate per day). The produced gas is transferred to the domestic contracted customers and the condensate is shipped by shuttle tankers to domestic users and regional users in South East Asia.
The project includes installation of a well-head platform (WHP) at a water depth of 55 meter; construction of a floating production, storage, and offloading (FPSO) vessel; construction of a gas metering station (GMS) onshore; installation of two flexible risers between the WHP and FPSO; and construction of a 52 km long pipeline to export gas to the GMS. Started in June 2015, the construction project of the FPSO, named Karapan Armada Sterling III (KAS III) was held in the shipyard of Keppel Offshore & Marine in Singapore. KAS III FPSO arrived at the location of BD field on 13 January 2017.
Gas and condensate produced from the BD field is transferred to and processed in FPSO KAS III, which is the world’s largest H2S processing offshore floating facility. It is equipped with topside facilities able to process 110 MMSCFD sales gas and 7500 BOPD condensate and recover 20 T of sulfur per day. Its operation is controlled from a control room. Maintenance activities are regularly carried out. It is provided with a health clinic and other supporting safety equipment. For personnel mobilization from FPSO to BD WHP, a lifting basket is used.
2023-09-14 11:43 | Report Abuse
This is possibly much more profitable project than total Cameia.
FLNG is valued at least 2 x of a similar FPSO.
Green part is a bonus and an additional feather to the cap.
Wish I could buy more.
2023-09-13 16:13 | Report Abuse
Should be much higher, but syndicate is collecting and keeping the lid on price, ready to dump extra shares.
2023-09-13 13:33 | Report Abuse
FLNG is a complex and technologically sophisticated structure. They are usually designed and built new. Upgrading an LNG tanker is only suitable for smaller unit.
Normal size FLNG built on cheap, like the Coral FLNG for Mozambique is 3.5 bln dollar (US). It is successful with 26 offloadings achieved and pave the way for this methodology. Indonesia was contemplating FLNG from Japan (Abadi) in the past, but gave up on it after few years of planning.
2023-09-13 09:29 | Report Abuse
This counter is Very Stable (little volatility) . Seems that syndicate is making money on the spread, rather than the swing. They keep 0.11 as the anchor and trade both sides of it.
2023-09-11 22:41 | Report Abuse
It can materialize and can work as long as it is subsidized. Government credits have to be used.
There is no profit by extracting CO2 from turbine exhaust and putting it underground. So whether they put it underground or quietly release it to the atmosphere makes little difference.
Let the environmentalists and engineers work it out.
2023-09-11 19:43 | Report Abuse
According to this MIT article, carbon capture is a scam. However, it is good publicity for Armada while there is naive public to support it.
https://cee.mit.edu/every-dollar-spent-on-this-climate-technology-is-a-waste/#:~:text=The%20technology%20called%20carbon%20capture,and%20pump%20them%20deep%20underground.
2023-09-07 13:41 | Report Abuse
A bit more technical description in this article...
https://maritime-executive.com/article/bumi-armada-proposed-floating-unit-to-build-out-co2-storage-operations
ABS highlights the challenges in liquid carbon transport and storage noting that while there currently are over 100 gas carriers capable of carrying CO2, there are only a few pure LCO2 carriers in the world. While liquified CO2 is seen as the most promising state both for transport and injection for storage, ABS highlights it is also very challenging. ABS explains that because CO2 is carried at around -54.4 Celsius and 5.-7 bar pressure in a liquid state, one of the challenges is that it can rapidly move from the liquid state to the solid state when there is a drop in pressure. This they said can lead to the formation of dry ice, causing technical and safety challenges.
Another challenge for the transport is that LCO2 must be carried in cryogenic pressurized tanks. Current designs for the tanks are limited in size before the tanks become too heavy and too expensive, according to ABS.
2023-09-05 12:58 | Report Abuse
Thank you A_Elder for letting me know.
Will do my dilligence on those stock with view to invest.
2023-09-05 10:19 | Report Abuse
Anyone noticed that their website is NOT working ?
Is the company still functioning ?
www.alam-maritim.com.my
2023-09-04 09:00 | Report Abuse
What happened on Aug 23 ? Lost half of its market cap. Yet no anouncement.
2023-08-30 14:18 | Report Abuse
Latest I know is this article:
Scomi Energy pointed out that after delisting, it can still continue to operate its business in the form of a non-listed company entity and carry out a restructuring plan.
2023-08-30 14:11 | Report Abuse
Very quiet here ...
Anyone knows if the company plans to come back through appeal or pay out investors when going private ?
2023-08-29 17:28 | Report Abuse
MM, I noticed this part and it made no sense to me. Ullage is just extra space in tank, not used by liquid.
He probably meant to say that there is not enough redundancy meaning extra equipment on stand by.
All those studies they propose (root cause) will not make FPSO work better. Just a bunch of inexperienced graduates fresh out of school filling out reports and powerpoints with stuff they copy from manuals. They should focus on checking machinery and fixing faults by experienced technicians.
2023-08-27 12:00 | Report Abuse
Looks good in general, but maybe the price got a bit ahead of the fundamentals. Can expect a small correction.
Maybe 20 sens ?
2023-08-27 11:40 | Report Abuse
Things sure look up here. See for how long.
:-)
Normally after few days enthusiasm diminishes.
2023-08-26 01:45 | Report Abuse
No, it was lower 10 years ago. I was surprised. But it recovered.
2023-08-25 13:56 | Report Abuse
1 unit of brics dollar will be about 55 usd, or 1 gram of gold.
2023-08-25 11:12 | Report Abuse
Earnings to be released today in aftermarket according to my broker ...
Brace yourselves.
2023-08-23 12:31 | Report Abuse
5 years later bursa is still a disaster. Seems there is no progress whatsoever as long as I remember. Time to clean it up !!!
2023-08-23 10:42 | Report Abuse
Gave up all recent gains alredy. Sad story.
2023-08-23 10:41 | Report Abuse
Any reason for this rally ?
It seems like panic buying.
But once I saw it before, there was an announcement shortly afterwards.
After anouncement, stock was down.
Of course.
2023-08-22 16:41 | Report Abuse
Yes, you are right, Calvin. But it will take time. Longer than we think.
2023-08-21 00:47 | Report Abuse
Does not look like much of any profit here at all.
2023-08-20 14:51 | Report Abuse
Fingers crossed for oil and hibiscus
🌺
2023-08-18 17:17 | Report Abuse
Alam is a good stock. Hard working employees.
But it seems that mgmnt does NOT care about balancing books at all.
Need to change top guy.
2023-08-18 15:36 | Report Abuse
Raymond is the star of IHH forum. REad blog with interest. But why success taken out ?
2023-08-17 18:29 | Report Abuse
What happened today. Train wreck in slow motion. All due to crude oil price ?
Stock: [ARMADA]: BUMI ARMADA BERHAD
2023-11-08 09:09 | Report Abuse
Thank you kumar.
Action today makes me think that there is no good news coming. Price getting lower and lower.
I pay attention to what is coming ... as Tim says.