Sharil has failed miserably over the years with his grand vision for SAPnrg to get market share while Armada has turned the corner after the new CEO came onboard. I have been holding SAPNrg for more than 5 years now hence am burnt badly by its plunged stock price though luckily I pulled back from buying its Rights issues.
Look forward to have a top management change before I would invest further into this company. PNB has not done its duty to reign in Sharil getting business at low margin so far despite PNB has invested heavily . Hopefully with the new Ex CEO of Petronas joined the board lately , Sharil cant hide growing business at low margin further. Either SAPNrg get more business at better margin with growing sales or else shareholders should demand for Sharil to go sooner than later.

Armada operations has turned for the better after the new CEO came onboard. He seems to have kicked some arses within the team instead of lethargic management by his predecessor.
Armada has certainly turned the corner after FPSO Kraken's operations stablisied and contribute to the bottom line.
Its operation cash flow is positive and able to meet the short term laibility requirment , so its debt is not a major concern.
Trust with next 1 or 2 quarters good results and no or little impairment , we can expect the stock price would be flying.

Thanks NikiCheong, so it means OSV in Arama still worth about RM 1.3 billions if base on purchase values then but after years of depreciations in addition to impairments , the book values should be less than that . So future impairment amount still would not be too big I guess . ( Gut feel as I am not accountant ) . Any good accountant here may tell us even better ?

Thank you ageetKumar for your knowledgeable estimate of the OMS values in Armada, base on what you shared, it is logical we should not expect too much potential impairment in immediate future . Given good performance of Armada Kraken, we can expect better results in the next few quarters as long as the loan amount is continuously pared down too.

To assess the potential amount of further imparment ( worst case scenario) , we need to find out how much are the assets of OMS Armada still has on their book after the impairments so far. Any one can find out from the latest report ( I tried but could not find)?

Sharil need to go and let someone else in charge before we see SAPNRG prices recover.

@Nikmon- Sapura leaks good news to edge reporter, 500 million project, almost awarded, good margin.....haha. bosses wanted fry fry
19/07/2020 10:52 PM

Even when the project is truely awarded, we cant know the real margin of this USD 500 million business until it is completed and it may takes 1- 2 years to complete.
By then , many would have forgotten what this Sharil said. He has not proven himself for long time already.

Afterall why would the client pays for "good margin" if the CEO already declare it before getting the order ? I stand to be corrected here though I am sicked of his excuses.

Armada started to turn around after the change of the CEO about a year ago. Why cant the board of SAPNRG looks into changhing the CEO if no meaningful improved results oin the next 2 quarters the most ? PNB can do it if they have the courage and wisdo

He cant continue to sell the idea of getting market share at low margins, unless he cand put the money where his mouth his, cut his own salary to RM 1 million a year while the company is not making respectable % ROE.

How can we afford pay such high salry to the CEO when SAPNRG can only get business at low margins ?

The CEO to be kicked out for his big failures in turning around SAPNRG , he has been talking snake medicine stories for too long already. He is not worth the big salaries we are paying him so far.

Salutes, RJ 7 and well said . There are plenty of shorties talk 7 & 8 here to create fears. I am waiting for next Qtr results while holding tight here at average costs below current price. 60 cents Medium term TP is not far fetched. Thanks

One has to make own decision for own money and take the risks .

I agreed with investorgogogo on the advise to KAQ to move on instead of repeating the complains against Spinninglotus.
Be happy as Armada is rising once again.

Great show today, shorties washed ashore hanging on trees naked. Apanama, Spinning and many others who said we are stupid to hold on.

Will collect more if the IDSS short it further. Que to buy ...

Already collected @ 41 sens yesterday.

Catching falling knife has it risks but buying when market is fearful has its rewards and belongs to those who know intrinsic values and have sustainable power. jjhonchew, you need to have that
instead of crying wolf only all the time. Add another j in from your Jjhonchew , you are still the same .

I even bought Armada from as low 15 sens till now, still making profit on this counter .

Once sustainable quarterly profit continue to emerge next few quarters , more fleeting retailers and big time players will swam in. The price would surge and let us see where are the naysayers by then.

I agree with Mikekim’s rationale explanation and have the respect for Paktua’s discipline and method too. Something to learn from him. Thanks

Johnchew reappears as jjhonchew after a few Tsunami of Armada share price surge that washed him ashore naked hanging on coconut trees .. I wonder where is ckcw now after he disappeared when his story spinning of Kraken can’t stand the rough seas was deemed imaginative at best. Now we have a few new names in this forum repeating the similar behaviours. Just wait till end of Feb to see who is a better investors for intrinsic values .

The disease of SAPNRG forum spreads here because of a few shorties from there migrated to here trying to talk down the Armada share for obvious agenda. We can accept different view points provided they are based on rationale explanations but not talking illogical assumptions or straight nonsense . There is little purpose served by squabbling with these bunch of shorties who often use all sorts of self talk and new names to reappear after proven wrong.

Let the time prove those who are right. Wait for next quarter results by end Feb .

When the Armada was at 15 sens, the market was fearful and there were many “ experts” in this forum predicted PN 17 for Armada. I bought at 15.5 sens with tight fists . It was not a pure blind faith but gut feelings of its intrinsic values after huge impairment done.

Add another 10% to my holding of Armada @41 sens while the market is fearful.

@ sheep “queue buy below 0.4. cut loss at 0.36 wakaka”

If it ever dipped to 36 sens , I will buy another batch of Armada to add to my current holding
I trust there are many more willing to do so.
Come on shorties

@RJ87 “I said what I have said, I don't care if it's 30sen next week. I didn't buy Bumi Armada for Claire compensation. I bought Bumi Armada for Annualised EPS 7.5sen on PE10 WITHOUT Claire. Not that Armada Claire contributed a penny to EPS 7.5sen.”

Well said RJ 87, I agreed to very large extend the main reasons some rationale investors who bought Armada base on its inherent potential of EPS of 7.5 sen or even more .

Claire was history with its associated costs already written off and reflected in Armada share price long ago. It was a lottery some hope to get bonus if WA Supreme Court rules in our favour.
Whatever awarded and potentially appealable to get more is a bonus.

Expecting PE of 10- 15 of Armada is not unreasonable. Buy on dip next week if one has the” bullets” , vision of its values and courage to do so. It is your money , you can make decision .
Good luck. Come 39 cents or 46 cents, we can deal with it . Thanks to Mikekim, RJ 87 and the rest for your opinions in Claire case results.

Yes . Let the believers of Armada’s potential Huat together, regardless of Claire court case outcome. The Naysayers of Armada will disappear just like passing clouds ; they are short sellers hoping to talk down the price. When the Price Tsunami comes back, the street running rates will be washed up the coconut trees again, Remember Jon Chew, CKCW who were shouting everyday then. ? Anyway., wishing All Gong Xi Fa Chai in the Rat year.

Have faith in Armada ‘s business model and EPF sell down does not necessarily mean they know the outcome of Claire court case in advance .

Is it not unexpected the market would be quieter before the CNY break hence buying rate would be low ? Pick your shares you like should they dipped
at low volume .

The shareholders are tired of the current CEO justification of gaining the market footholds with competitive pricing . He is just buying time for himself with fat salary at the expense of shareholders . The Board of Directors with PNB CEO has to make a tough call to get rid of the current CEO.

Until the expensive CEO In SAPNRG is sacked then the market will see the light of turn around with profit . The current strategy of puffing up the sales figures with low margin projects is disastrous.

If Armada even dip to 39 cents as Apanama has been hopping , it is even better opportunity to buy more . Come , 55 cents or 39 cents , different stroke by different folks. I have seen enough of fear mongers in this site but they eventually fake away when the price eventually move to the next levels right from 15 cents to 22 cents, to 45 cents and 55 cents. Some street ruining rats came back with different names as they are proven wrong for fear mongering .

When market is fearful and low volume at dipped price , does it not means it is an opportunity to buy a fundamentally improving shares ?

Managed to add another 10 % to my total Armada holding at 46 cents this morning . Keep your faith , que to buy at price you deem cheap enough . I am waiting g for good news from Claire’s and next quarter results .

Come 46 cents, I am waiting to collect more.

Full of Rubbish talks here

RJ87, thanks for sharing your good insights

What happened, the share dropped drastically yesterday?

Yes ! It is long overdue to kick ass in SapuraEnergy, the first one to go is the CEO Shahril who is costing the shareholders RM 75 million per year while the Company is bleeding losses with low margin sales in the name of putting foothold in the market while the competitors are shying away at the lousy low margin projects. Shahril needs to show some leadership by cutting his own salary to 20 % of what he gets NOW.
I guess PNB must have felt it needs a heavy weight to sit on board to remove this long entrenched CEO Shahril from continue to earn hios super high salary of 75 millions per year with no signs of making profit .
Show him the door within next 6 months if still cant produce profit. Times is out for Shahril !The shareholders demand and deserved profits after a few yaers of heavy losses.

Well said,RJ 87.

Men want to be Macho and women’s want to be feminist , it shows in the commenting style of some popular forumers here.

Wow, this site getting romantic while we are waiting for the boom of price. Am still holding Armada waiting for it to cross 55 cents barrier. Happy NewYear with Claire Court case result in Jan , after the judge is back from holiday I guessed, as Australia comes to stand still during this period.

Any info when theClaire court case result is due ?

Today market would surge due to good news of China- America trade deals .

@ i3lurker MM78 you should not bother about such things
share prices are dictated by sharks and NOT bad debts.

just close 2 eyes and buy!!!

I3Lurker
You were talking about RM 6 billion provision for bad debt which I have question the validity of your statement. Looks like you don’t have the fact to back your statement.

@ i3lurker you forgot the RM6 Billion bad debts provision inside Armada coming soon ?

Where is the figures you mentioned ? if it is true and already provided , then is already accounted before. Please explain i3lurker.

Opportunity to collect more if it drops to 0.45 as there are next few quarters potential profitability
improvements . Claire court case compensation would be a boost ; should the management delays reverse impairment , the quarterly results would present lower depreciation costs than actually is hence show stronger profit eventually.

The CEO is too expensive to be retained at RM 70 millions given such poor results for a few years . He can either cut his salary by 75 % or be fired for poor results . What is BoD doing in Armada? PNB is sleeping on the job too ?