Mana ur 10% drop...prepared bullets but no drop!

DJIA drop, Xin9 drop...armada up...
F*ck!

Spinninglotus panicking there...my strategy works!

Like I say, IDSS is fearful price rebounding and just as contra afraid price dropping...

Contra guys, u guys bought too early...Let IDSS short in the morning, collect slowly lower and push later in the afternoon session. The push should come around 2-3pm and let IDSS panic buy to close new high.

Gooshem becomes sohemm...

Drop lower! Wanna colllect more!

Says the schizophrenic who is logging in and logging out to talk to himself. =D

==================================================
i3lurker spinning

very obvious Area 51 feller has gone shizophrenic
The Martians had landed
and Elvis Presley was seen alive in Chow Kit wearing a mask.

SuperPanda sorry for the bad word, human do pissed off sometimes. i will wait to collect if hit my next discount price. wish all the best.

==========================================================
if u r from construction, u r pretty good with ur temperament already. I never like working with them.
excessive !@#$%^&*((*&^%$#@!@#$%^&*(. I got lost in their vulgarity.

same to you brother.

Get a life man. Who on Earth gets two account to post rubbish?

I think i'm gonna just ignore this fella (i3lurker/spinninglotus). No valuable insight to add, write rubbish and quickly delete them to create confusion by answering to one another.

Perfect manipulator and liar. Don't be fooled.

This two gong kia came back the same time.
Very likely. There is only one gong kia with two accounts.

===========================================================

i3lurker shark macai are normally education challenged
coz shark syndicates get them cheap just to post rubbish
03/02/2020 12:06 AM

You balless - spinninglotus, U gonna delete ur comment again u lying cunning pussy.

====================================================================
spinninglotus Sozhaipant

Now you agree with me this RaiJaiBatcai is talking nonsense machine right?
It would be miracle if he can make share trading correctly based on those false knowledge
03/02/2020 12:04 AM

Really have to curse this fella non-stop for trapping me and panda.

You guys see...U know who is the sly cunning fella here la.

That coward literally deleted all his comments.

Spinninglotus pussy!...Don't leave ur balls at home. man up what you say. Don't delete after saying things.

paiseh ya Bro Panda...hehehe

spinninglotus must be having a laugh there. Cilaka. Kena trap.

Learn my lesson...when wanna call people soh@i...have to quote what they say and only call them one.

Spinninglotus soh@i!...u come back with a brain or facts la. Waste my time to educate u.

Hahahaha...

I noticed the lag. When I posted Wah pia...it's suppose to be directed for spinninglotus comment that I don't know what rubbish i'm talking about. How did this mutherf*cka remove his post. Fall straight into this gong kia trap. Post already quickly delete also got. And make it appear like the comment below is directed to you.

RJ87 "u come back with a brain or facts la. Waste my time to educate u."

Now, it appears right after ur comment. Laugh die me. I don't blame u if u r mad at me.

For the Caspian job. I don't know the details. Job completed.
Only material impact is maintaining a crew that's not utilized. Dunno sell already can save how much. Like Perdana, see how much savings from Administration Expenses.

Gearing calculation also another thing.

Impairment is non material. But it reduces NTA.
NTA down, gearing goes up. If day day change contract value based oil price. Gearing mar up down up down like oil price movement? Funny right?

Laugh die me.

Panda, u know we have disagreement here and there...But, there is a mutual respect and I don't usually speak to people in such condescending manner unless provoked.

The below isn't directed to you.

RJ87 u come back with a brain or facts la. Waste my time to educate u.
02/02/2020 10:29 PM

It don't think Armada pays USD380mil ust to get f*cked over. I don't think WEJ pays for everything either. It's somewhere in between. Details lies in Annexure D and the SA.

Learn a boat load.

I talk with FACTS. pg 13
https://ecourts.justice.wa.gov.au/eCourtsPortal/Decisions/DownloadDecision/8912903f-39c1-4d26-8c3e-6e1ea0b42e6a?unredactedVersion=False

4 April 2014 - Completion of dockyard work
31 Second, on 4 April 2014, after its dockyard conversion work was
done (explained without objection in AB's written closing submissions
to be at a cost of in the order of $US380 million), the Armada Claire
finally sailed off from the Keppel Shipyard, Singapore and towards
Australian territorial waters.

Cost of Armada Claire is USD380mil. If the charter contract is only worth USD275mil. You build for what? You build to lose USD100mil right?

Then, u refer to pg 113

4 April 2014 The Armada Claire FPSO sails from the Keppel Shipyard,
Singapore, bound for the Balnaves Field in the Carnarvon Basin
some 170 km northwest of Dampier, Western Australia.

7 April 2014 The Environment Plan is revised by Apache.

9 April 2014 Apache, AB and Sumitomo Mitsui Banking Corporation execute
the Letter of Quiet Enjoyment (the LQE).

11 April 2014 The Armada Claire arrives at the Balnaves Field.

9 August 2014 Apache issues to AB the Certificate of Ready for First Oil ('RFFO').

12 August 2014 AB issues invoice in the amount of USD$5,500,000 in relation to
Milestone B.11 pursuant to the Services Agreement.

12 August 2014 AB issues an invoice in the amount of USD$2,200,000 in relation
to Milestone K.4 claimed pursuant to the SA.

I'm not sure if Armada has pumped any oil yet. But I also don't know why Armada getting paid USD7.7Mil.

That's like U just arrive at ur customer place for pick up. Then, maybe Ur grab customer pays you to stick USD7.7 mil Rolls-Royce emblem on the car you build to make him look cool or smtg on the way to KLIA right? I don't know. =D

u come back with a brain or facts la. Waste my time to educate u.

Gong kia will have neither reasoning or logical thinking ability.

Small brain operates differently. Obviously, there is some truth in what I say la.

Then u argue on court, "my time, if not wasted on building your stupid car; I can do something else that makes money elsewhere. Now, my time is lost. U have to pay for that too".

Then the fella wants defend himself by saying "The car window doesn't work as specified. Based on the SA, i have the right to terminate the contract".

You know the rest of narrative. =D

That depends on what's the deal.

Got difference bro. If this whole world don't have car. A fella engages to you to build a car so that he can go KLIA, would u bear the cost and build a damm car just to send the fella to KLIA for a trip when when u won't even know if there will ever be anyone else to charter your car ever again? Hell no.

You will say OK, "I will build the car for you. But you will hv to bear the cost." If he still think it's worth it, then proceed if where ever he is going worth the money. Now it's like the fella got the letter that the deal can't pay for the car you are building. He calls it off. Then, you keep what's left of the built car. And u sue the fella for lost of potential profit.

Cannot equate public transport with FPSO transport. You don't see ppl chartering FPSO everyday.

Panda, u r in construction. U know construction and developer outsource piling job to Econpile. The benefits is they do not need to maintain and depreciate the piling asset. If project got cancelled, no debts problem with the idling asset.

Here's Arnada's advantages. They are paid to build the ship. They are paid for the jobs. And they get to keep the ship. Else, why do u think Yinson is valued so much. Similarly can be argued why Armada isn't? reason is Armada sui siao got two customer convenient cancel project in 2016 lo.

if u hate armada, u should hate econpile the same.

Lets hope CEO, and CFO manages to pare down the debts by selling and redeploying asset. Valuation will increase tremendously. Zoom out abit.

Like mikekim says, see the big picture. People that sees big picture won't panic.

If Fong Siling like u guys see things in such a narrow manner; day day buy high when everybody chase and day day sell low when IDSS come scare him? He won't get passed 1 year investing. All money gone cheated by IDSS liao. Wakakaka

He survived few crises liao. Now, u hv to decide where u gonna stand in 3 years and 5 years.

Similar analogy, if there is a force selling in the property market, housing price will tank.

It already started tanking in property above 1 mil. 16% dropped.

Bottomline is...Don't buy over valued stuff. If u buy liao, then don't sell low if the property has good location. Property price will grow again when GDP grows in the next 5-10 years time.

I have to admit, it's a good chance to sell ur mid tier property and collect undervalued high-tier property at the moment.

bullrun1985, people got life to live la. If I don't hv temporary mobility issues, I won't be here. I will only be here when I'm in a meeting that bores the crap out of me during weekdays. Evidently, they can live their life very well without looking at the market.

For armada, if it rebounds....I will consider to either hold/sell. Bought quite abit from the selldown for quick money. If I'm selling, I'm selling in the morning. If enough people queue sell at all the higher price. It will cap the price from going up. But that will IDSS will hv to short at lower price.

If it drops, I will collect more and hold. Then, I will go missing until July. Another straight 2 strong quarters. We will contain and establish the severity of wuhan virus by then. Price will rally again.

To prevent price from going to new low. I strongly suggest don't play contra. If u do, close ur position by 3.30pm. Price will DROP if force selling is stronger than IDSS force buying.

Panda, if I understand correctly, that's OMS vessel specially built for Lukoil project.

https://www.bumiarmada.com/Web/WebPage.aspx?p0=322&p1=322&p2=0

They just click ONE BUTTON. That's IDSS enable/disabled button. =D

But, spinninglotus will be saved too. Haahhahaha

U know what we should do OOMMGG? we should hang out.
I believe you are about my age, hardworking, curious and good time to take risk.

I will share with you my notes from TIP and Masters in Business.
Maybe we split the playlist where u listen to a few and I listen a few. We come out discuss about them.

Ray Dalio pokai in 1982 at the age of 33y.o.
He is now multi-billionaire now at 71y.o. He recovered in 30 years.

I believe many pokai too. What separates the pokai and stays pokai with those came back is ability to face the mistakes. Those who failed and still failing are those that runs away their mistake their entire life.

I will suggest you to read about 500 years history. Or read Ray Dalio's book on his vast equity market experience.

What I always make fun of TA is because they are too zoomed in. U think China is gonna live for next 3-6months is it? Zoom urself out abit.

If i3lurker is an 75 years old uncle like my dad, I will suggest him to take all his money to spend on himself. No point to grow his wealth anymore. What worth passing on if he has anything is his wisdom. It's the duty of his next generation to filter what's useful and what's not and if there is anything useful at all.

But for dudes like myself with 40-50 years more to live; heheheehe, I have more time to fool around. Yeah, I'm gambling 3-5 years of my annual income. I can afford to be wrong because I will make it back every 3-5 years. How many was a bankrupt and came back strong? As long as time on your side, do as much. Do as many mistakes that you can. Most importantly, face ur mistakes and learn. Running away from ur mistakes will prove more costly than facing them.

which two asset panda?

SHHHHHH....OOMMGG, i wanna see how spinninglotus gonna short Chinese Market and die kiao kiao...=D

He is a bad person. I shouldn't be nice to him.

OOMMGG, you can't control how market feels about anything.

Even if Armada Claire is redeployed. Even if Armada Kraken is 100% uptime and impairment reversal on 900mil. Even if they sell half of their asset to bring the gearing down to 1.

There is NOTHING you can do if the market feels armada is worth 20c just the same as if DUFU shoots all the way up to RM10.

What people do is not important. Most important thing is, what you gonna do.

The will be fear mongers that benefits IDSS from a sell down.
The will be cheer leaders that benefits from contra from a new high.

Those longterm investor who they believe what's the value of the company will share why they have invested and also why they chose not to invest. One thing for sure, they are consistent. I bet those who are not interest when it was 15sen will not be interested now. They won't come here pok pek pok pek. It's either they are interested and hoping their pok pek pok pek will bring the price down and not miss the chance this time or they are here to short.

U see how easily I debunk CIMB statement? 2017 no annual asset impairment. WHY NOW?
If CIMB still hold their 3% stake, CIMB would write "No foreseeable impairment in Q4,19 financial report just like Q4,17 report. Maybe Claire impairment will appear in Q4,2020 offset by possible impairment reversal from Kraken uptime.". I think I can be pretty good IB analyst myself.

Well, u read them. =D

"In accounting, impairment describes a permanent reduction in the value of a company's asset, typically a fixed asset or an intangible asset."

Impairment affects contract value or tangible value of Armada's asset. If u wanna reduce something from balance sheet. It has to exit somewhere from Income statement and cashflow statement. It's at impairment. Dunno our top financial guy know or not.

There are material impairment and non material impairment. When renegotiated contract reduced value, Armada have to report they lose contract asset worth. Did they actually lose any money, not really. Just lost of potential earnings. But impaired as lost.

It did went up gao gao...

Like I shared, the 30 counters that lost 20-60%...

Here's my comment. Those high volume ALOT contra and IDSS kaki...Very irrational....
contra get caught, get new low.
IDSS get caught, new high.

Don't confuse market irrationality with fundamental change. U go securemetric say sell also u win. U go TDM say sell also u win. U go Rsawit say sell also you win. U go KNM say sell also you win.

U go anywhere say sell also you win. What's ur point? U just wanna say u win only right?

okok...U win, u win....hahahahhahaa

Let's address the two gong kia's comment on CIMB.

1) They made no rebuttal about the FACT that Armada has already impaired RM814 in 2016 from FPSO segment and

2) Let me show evidence of CIMB is nothing more than that two gong kia.

i) Feb 21, TP30 sen after getting financing.

https://www.theedgemarkets.com/article/cimb-research-cuts-target-price-bumi-armada-30-sen

ii) Mac 04, TP15 sen after selling their stake in Armada. And u never see them issuing call warrant. (Yep, u r right. They used their stake to manipulate the price of call warrant before expiry date.)

https://www.thestar.com.my/business/business-news/2019/03/04/cimb-research-lowers-bumi-armada-tp-to-15-sen.

Steady abit. Even if it's Rat year, no need ghost ghost rat rat...Show the article mar...
https://www.thestar.com.my/business/business-news/2020/02/01/what-now-for-bumi-armada

"“There was no further disclosure beyond this, but we believe the carrying value should be lower than RM473mil now, as four years have passed since that time, ” says CIMB Research in its report.

Losing the court case will not necessarily result in a further asset impairment charge

However, the company has been looking for a buyer for the vessel or a new charter for the vessel since 2QFY16, the research firm points out.

That’s been unsuccessful.

If the company cannot find a buyer or a new charterer for the vessel, the auditors will require an annual impairment testing, says CIMB Research.

“So it is still possible that the vessel will be impaired again during the 4QFY19 results announcement, which should be released by the end of February, ” it writes." ~CIMB


Hero's Response
1) If the impairment appears at all. Likely, in may for Jan-Mac,20 report.
Financial report from Oct - Dec,19 do not include potential expenses from 2020. I think only thing about Armada Claire is the appeal, announcement of sale or redeployment. Only good news liao.

2) Second, CIMB claims that there should be an annual impairment. Contract terminated in 2016. RM814 mil impaired Eh, how come there is no such impairment in 2017?


Excerpts from Q4,2016 report
The recoverable amount for these vessels of which an impairment charge was made during the financial year 2016 was RM1,988.8 million, comprising RM814.3 million in the FPSO segment and RM1,174.5 million in the OMS segment.

The exact impairment was RM814.36mil. The contract value is worth RM1.46bil (Charter rate + conversion work). Armada filed USD275mil/ RM1.14bil on loss of revenue and USD7.7Mil work done. Contract value RM1.46Bil - RM1.14bil lost of revenue = RM320mil conversion work. Safe to say, Armada already collected RM320mil for the ship. If Armada impair RM814mil in 2016, maybe there is additional RM326mil worth of loss of revenue to be impaired. Anyway, that RM320mil is already paid by WEJ. I gotta admit. I don't get what it means by impairment or depreciation. Can u lose money that you haven't make yet? I don't know. Maybe sifu here can explain.

Armada depreciates 400mil a year. In no time, Armada Claire becomes FOC. No need impair. The Indian just say "take it. Just take it and go away."....Hahahahha.

"However, the company has been looking for a buyer for the vessel or a new charter for the vessel since 2QFY16, the research firm points out.

That’s been unsuccessful." ~ CIMB

Hero's Response

Ofcos cannot get contract yet. Especially when u r filing RM1.46 Bil on money you haven't make.
If u got new tenant, the judge will say...Neh, u found new customer already. Still wanna collect RM1.46Bil from previous customer ar? Let me tell u, if Balnaves actually got oil, they won't give a shit if the auxiliary pump works or not. In fact, Armada Claire already contributing to Armada's income. Just the well is filled with more water than oil. Conveniently, WEJ mar use the pump problem to screw Armada over lo. For a fact

TL;DR
2016, Impaired RM814mil.
2017, there were no impairment on Q4,2017. No basis to CIMB "auditors annual impairment claims".
2020, Woodside pays Armada of the remaining invoice for the contracted work. Total, Armada collected RM300mil for the conversion work which Armada can deploy else where.

U guys honestly think that spinninglotus, i3lurker, and etc etc stay on the side? Don't be naive.

Be wary of new faces that appears during price drop. They only appear when downtrend and they they feed on ur fear.and make money from your fear. It's important for you not to be fearful.

Last thing I want anyone to do is buy with contra at high from these IDSS seller and force sell at low.

If you believe EPS 6sen at PE 8 for 48sen, EPS 6sen at PE 10 for 60sen or EPS 6sen at PE12 for 72sen; If you believe value has emerged and reward outweigh the risk, choose ur entry price, be it 35sen, 30sen or 25sen. Buy and keep.

And for some situation that you have to sell. Remember! Sell in the morning. Compete with IDSS.
At least in the evening, u r not forced to sell low and benefit IDSS in the evening.

That's my comment. I'm expecting a barrage of bullsh*t to make sure people don't read this.

This is a neutral comment. It's not a buy call, it's not a sell call. It's an ANTI-IDSS call. =D

Only one thing to say...IDSS are afraid price rebound as much as contra are afraid price coming down.

U see, there were few contra players earlier. But as price drops. They left.
It's the same as IDSS players wayyyyy earlier. As the price rises, they left. (pearlwhite, nckm, superbull, johnchew and few fellas).

But what you noticed...it's only the few same faces that's still around.

Spinninglotus, what’s the jackpot prediction?

Yeah yeah...All u can do is short spinninglotus. Don't short the wrong counter.

Likely, financial state agency might inject funds to cushion the panic. But, we will see.

Feel free to point out what is it that I got factually wrong.

U wanna know more fancy move? 1 account sacrificed for massive selldown when volume is low. Other accounts stands by to collect. There will be more seller than buy in a panic. Not easy for Bursa to prove prosecute rascal like these. Most mar jemput go yamcha. Get free teh tarik.

You know what I'm talking about or not?

I don't think there is ANYTHING FACTUALLY WRONG to tell people that Contra Players are detrimental to closing price if they are forced to sell at few minutes before trading ends.

I don't think there is ANYTHING FACTUALLY WRONG to tell people that Margin Calls will temporary misplace the price and it's good time to collect.

This sentence "Moral police" also come out.

Basically, u r saying it's better people know less about how market works so that "some people" can make money right?

I don't think there is ANYTHING FACTUALLY WRONG to tell people that IDSS need people to buy from them high and sell back to them lower.

Sigh...put ur hands for those looking to invest in FD and currently holding FD...

How do u find the "FD investment package" after BNM reduce OPR by 25 basis points?
Like shit right?

I never recommend anything ever above PE10. Cypark is at PE8. Mahsing at PE6. HIL Ind at PE8, AWC at PE8. At current price, Armada is trading at PE4.73 if FYE19 annualised EPS 7.5. What's so overvalue about Armada's EPS 7.5sen at PE10 valuing at 75sen? Conservative FYE EPS 6sen at PE 10 for 60sen. with YoY PAT and Margin improvement. What? Fundamentally okay one. Infact, by PE13, I sell everything already. Just because it "looks" far doesn't mean it's overvalued.

Dufu when I die die say cheap that time was RM1.2. When it dropped to 90sen, I say cheaper. U guys say dufu is tofu will never go up. Now market cap went up 10 times liao. Still got people buy. But these two gong kia never go over say dufu overvalued. Why? (I suspect is DUFU cannot short)

Soon people with cash will find something to buy. Most attractive stuff of buy is always something that's undervalue. Undervalue means PTBV less than 1 (armada0.68),the lower the more attractive it is. Improving YoY EBITDA margin (Armada operating at 50% EBITDA margin). Those with cash and huge margin facilities will buy stuff slowly. By the time panic is over, they happily sell bits by bits for people to chase high.and the cycle repeats.

Just remember, when there is a seller, there is a buyer. When BN lost the election; nobody wants to buy GKENT. It dropped from RM4.5 to RM 1 in few days. Plenty of seller. No buyers. That's what happens when u invest in BN contract dependent company with no ability to make money themselves.

I can see what these to gong kia trying to do....trying to mislead new comer to make their IDSS plan work...When u see MACD starts to change tide; they will go missing. They are riding on bearish moment to make money from IDSS. Else, try comeback with data to support ur claims.

I'm gonna just read, know what you buy. Here's are the FACT.
At current price, Armada is trading at PE4.73 if FYE19 annualised EPS 7.5. Armada already have EPS6 as of Q3,19. Even if there is some impairment making Q4,19 EPS 0. Annualised EPS 6sen gives Armada PE5.9. If 5.9 is expensive; what is cheap? It's cheaper than dayang, it's cheaper than carimin, it's cheaper than penergy, it's cheaper than uzma. And it's 5 times cheaper than Yinson. These are FACT.

Along the way I know there are people reading trying to learn. I'm sharing data and interpretation of data. How contra makes money. How IDSS makes money. And how I think it's the right way to make money in equity market. That's a sharing for another day.

Hint IDSS is exposing their insecurities. I tell u what. IDSS are as afraid price going up like how contra is afraid price coming down. Best is don't do either of that and u can sleep well as long you know what you are buying.

I gave a list or 30 counters with 20-60% loses.

Now, it's PROVEN that armada isn't the only one. And ur crystal ball isn't that great. U get angry with me is it?

U think goreng can only goreng one way only isit? Cannot goreng down one la? STUPID.
U r not happy with me spoiling IDSS goreng down plan is it? hahahaha

Look at your English also know who is the kong kam. I won't be surprise if you read of right to left.
In English, you need to read from left to right ok?

Better join pak tua...always play with own style...tut tut...

Never scared to fight....Audaces Fortuna Iuvat

Go google that. Tut tut...no mood speak English. Tut tut.

Damm...I don't know what eye is that. What is what also dunno.

One dunno how to differentiate "possible ground of appeal" with "Illegal to appeal".
The other one dunno which is the chimpanzee.

U guys read financial statement using google translate is it?

Like this la...let's go bai ti gong ok? Everybody heng ar, ong ar, huat ar....

those didn't buy and dodge the bullet, heng ar....
those who manage to cut loss earlier and bought cheaper now, ong ar...
those who collect and keep and make money later, maybe huat ar...

If like this u also got problem, u r just a bad person...talk what also no use...u just don't like to see anybody make money...bcos have no money to buy shit right? only way is to short. That's why I don't like IDSS...And you are exploiting speculator vulnerability and insecurities.

I can give u a list of troubled counters to short too if you want. I can tell you business in long term will drop is easier to find than a counter that will go up in the long run. At least, I make money from increase productivity and prosperity. IDSS make money exploiting people's vulnerability and insecurities. KNOW WHO IS THE BAD PERSON.

P.S. people like mikekim, mabel, paktua, MM78, itch. Chillax nia.

Macib@i this i3lurker and spinninglotus.

I share reasoning. U got problem. Say I bully people with my England.
I share data. U got problem also. Say data liar. (Tomei and Poh Kong did lost 20% from it's high from the assassination. And the other that "benefit" from Wuhan also drop 20%. These are facts. Why? I don't know. I won't go over and say there is a USD100mil impairment)

if u go whole 30 counters tell people about wuhan virus, 2 weeks ago; I still ok. Die die want come here pok pek pok pek say Armada won't rebound...and "trying" to save people...More like riding on people's plight to pretend you have crystal ball.

I give u list of 30 counters already. Please go over la. U hv 30 counters to make urself feel like you have a crystal ball. Faster go over.

Let me share another thing...u buy bcos sentiment in favor of wuhan virus. Then, u lost also about 20% past 2 days. Ruberex, Comfort Gloves, Adventa, Careplus all dropped by 20%... hahahahha

And if u buy Tomei and Poh Kong when US assasinate the Iranian General. You lost 20% too.

And if u bought Icon and still holding....God bless you....

Do u think i'm gonna run around saying something is "very wrong" fundamentally. I will not make comment on price movement. However, I will say something on people cooking baseless shit.

12 months ago, everybody pay attention to nckm, pearlwhite and Johnchew. I won't be surprised the same will happen again 12 months later. If u can't stand the volatility, please cutloss and comeback when things settles. Those no confident, don't contra and enter. I would rather no volume than contra force selling at 4.45pm. Bcos, that's the opposite of 4.15pm IDSS force buying.

Like always...Audaces Fortuna Iuvat...
Have a nice weekend.

What I have shared is are just data. It's better we discuss based on data instead of what you think or what I think.

If u wanna find something to talk about; Bring in data and we discuss. Keep the baseless "you think" and "I think" bullsh*t somewhere else.