AK will save this company? Who would want to throw more money into a company that is not competitive? Many do not know how capital intensive is fpso market, only the top 3 survive, many smaller one similar to BA disappeared from the industry over the years especially the current tough market.
But for gambling yes, I think not for long term investment.

Even they can restructure current debt, they wouldn't have enough credibility to borrow more money for future projects, unless shareholders willing to pump in money, possible?

Dear friends, it is not a "news" that this company is in debt crisis. Few months ago, from news/rumours within the industry, Petronas would not invite BAB to bid for a new fpso project in Malaysia, as they are aware BAB is having financial crisis, and it is proven that they are not invited. And it is not a news either that BAB can't bid for new project due to financial problem. Recent rumour said they may cut 80% of the workforce.
Again, buy it if you understand the risks, those taking bank loan or using retirement funds to buy, really have to think twice. No kidding.

Few months ago the industry already knew this company is in some big troubles, hence the slowly dumping before it is known to the public. Think twice before putting all your money in, hope for the best but prepare for the worst.

I believe the worst yet to come, there is no clear solution for their current situation, and the "solution" can be very damaging to their share price. Stay away.

The oil price will not actually affect drilling activities immediately, because it is a long term investment before you can produce, when it was 80usd the industry already predict it is not sustainable, and 50-60usd is good enough.

Superpanda, I also bet on this one, I believe it will steadily move up, a lot of drilling activities are ongoing/coming.

Oil price frustration would not affect this company immediately, they are not oil operator and they get same rental no matter the oil price. As long as oil price above usd50 a lot of projects will go ahead and the market is actually picking up (a lot of projects are coming next year). The only question is whether this company is able to grab those opportunities.

If you read this news https://klse.i3investor.com/m/blog/AmInvestResearch/179783.jsp
You will notice they are working on a projects that other players pulled out, why?

Superpanda, the different is fpso companies would need to fund the projects (they need to secure the loans) not the operators/clients, then they collect back the money via "rental" over the years. That's why financing cost is very important for them in order to be competitive. That's why how strong is the client is very important,their ability to pay rental. Just my opinion for working 15 years in this industry. The risk is high.

Superpanda, asset for this company is not so attractive if you know all these years what type of projects they are going into, they normally get projects that are higher risks, because they cant compete with big companies on the good projects. Same like sapura now have a lot of projects but all won at very low price, not profitable

I think it is a gamble to buy this counter now (not an investment)

I don't think worth investing in this now, risks is too high, fpso companies always take loans to build fpso then sell, or lease and operate. Therefore they need to compete on ability to secure cheaper loans. And a very high percentage of their revenue are actually go to banks to pay back the loans.
With financial problems, it will take a long time for them to recover because the competition is so high. The good projects will be taken by big companies with strong financial like modec and sbm offshore. Left the high risks (not so profitable) projects for player like bumi armada.

This company was actively hiring just months ago, just confirmed lost a bidding, and now retrenchment. You think they are confident to return soon? They can't even bid new project now. They are at this price for real reasons, nobody know the bottom.

PVA1 I think you should check with your friends (if any) working in this company to find out real situations. I have some friends working there, the fact is fpso market is picking up, but bumi is not able to bid due to financial problem.

I think this is a gone case at least for short term, cant bid for new projects as well due to weak financial backup.

This company has just initiated retrenchment exercise....