‘nyawa-nyawa ikan’

Let me show you how an otherwise ok company becomes technically insolvent due to a USD loan and dropping RM.....




RM at 3.15

Shareholders' fund RM 315
USD loan USD 100 RM 315



RM at 3.50

Shareholders' fund RM 315
USD loan USD 100 RM 350

Shortfall in shareholders' fund RM 35...

Technically insolvent as the USD loan is not due for payment yet....


If USD:RM > 3.15 when the USD is due for payment... company is bankrupt




SKPetro's leverage is rather high as you have noted.... a problem... an even bigger problem if there is huge USD loans

Company going under even before execution of its billions RM of projects







ipohwood With ringgit depreciating, it will mean more challenging to serve loan that is highly leveraged such as Skpetro. Worth to wait a bit longer before picking up any.
14/12/2014 18:04
14/12/2014 19:29
...

Let me show you how an otherwise ok company becomes technically insolvent due to a USD loan and dropping RM.....




RM at 3.15

Shareholders' fund RM 315
USD loan USD 100 RM 315



RM at 3.50

Shareholders' fund RM 315
USD loan USD 100 RM 350

Shortfall in shareholders' fund RM 35...

Technically insolvent as the USD loan is not due for payment yet....


If USD:RM > 3.15 when the USD is due for payment... company is bankrupt




SKPetro's leverage is rather high as you have noted.... a problem... an even bigger problem if there is huge USD loans

Company going under even before execution of its billions RM of projects







ipohwood With ringgit depreciating, it will mean more challenging to serve loan that is highly leveraged such as Skpetro. Worth to wait a bit longer before picking up any.
14/12/2014 18:04

It will only drop..... if the normally reliable EPF..... uncharacteristically.... no show beginning next week.....


But... if EPF never turn up.... then you can take it as an indication that we are freaking in big trouble.... and I am not talking about you getting a lousy 1.25% dividend for your EPF for 2014


It will be non Armada specific issues then..... and the whole Bursa will be dragged in...

Opportunity is.............


Fantastic opportunity is.............

Knowing Armada will last for a long long long long time....

but, at this very moment..... some of its shareholders may not...... cannot....




Brutal, I know.... Brutal, very very brutal.. I am aware......

Posted by AhMoi > Dec 1, 2014 03:17 PM | Report Abuse X

CEO may be rich... millionaire even


But when you are dealing with Armada, you are dealing with very very very big figures... recall even Ananda K had to sell off part of his %


So, the CEO, in order to take up his ESOS, Rights Issue, he must have taken a loan... and, this loan is killing him, killing him quickly now


HB didn't sell voluntarily, he is being subjected to FORCED SELLING




Posted by AhMoi > Dec 1, 2014 03:22 PM | Report Abuse X


And, HB being the CEO, of course, knows very well how good Armada is.......

that was why he loaded up himself with Armada upto the very max... took a loan and loaded up himself with Armada upto the max

Armada is good and he knows it...... but unfortunately Armada has been hit by an over-whelming outside force, at the moment

point is Armada good

point is HB didn't sell voluntarily







check the dates I posted above and check the date on the announcement made regarding the CEO actually being subjected to margin call......



and you know..... and you know..............



AhMoi - THE ORACLE

Armada will jump to 1.25 when EPF starts its window dressing.... by next week.. by next week

The rout has all started with O&G, the rebound therefore will start with O&G



The new contract has been structured so beautifully for Armada.... think this is the type of contract where the major want to buy over the FPSO at the end of the contract... beautiful


Profit starting to come in immediately in the current quarter ending December 2014.... Fabulous, no need to wait for sail off... for first oil... start immediately from 8 August... and last for ten years.. with option to extend for 5 more years

Armada's fundamentals have become even more solid that even if stuck for 1 year also no problem.. ; )

I expect to make even more money from Armada....



Armada will jump to 1.25 when EPF starts its window dressing.... by next week.. by next week

5...

5 reasons to stay invested in O&G...


1 The rout has all started with O&G, the rebound therefor will start with O&G


2 The rout has all started with O&G, the rebound therefor will start with O&G


3 The rout has all started with O&G, the rebound therefor will start with O&G


4 The rout has all started with O&G, the rebound therefor will start with O&G


5 The rout has all started with O&G, the rebound therefor will start with O&G



Armada is the best of all the O&G.....


Armada is the best of all the O&G..... BUY ARMADA

Yes kilsnk you are moron.... wish you could get your facts right.. wish you all the worst

Yes Mr k is a good man.... wish him all the best

Wish Mr k all the best.... else students will suffer.. out of the blue and none of their fault... and things are just getting more and more expensive everyday...

sunztzhe.... seriously, how is Mr k nowadays??? No more scholarships... that would be tragic..

When the time comes.... when high cost producers caught a glim of the coffins before their eyes, they will stop... in 3 to 6 moths, max

kilsnk

you need take a rest, read a book and make yourself wiser

you just go holiday la

just relax

cos you freaking don't know what the hell you are talking about, period

Unless you are 100% cash....................... be careful what you wish for

If O&G gone... the rest will follow..... KLCI will drop 35% too... to 1,100

You can run... run with big loss but you cant hide


And, because the rout has all started with O&G, the rebound therefore will start with O&G... you will bloody have to wait a long time more

that is why CEO run away with suffer huge loss on share


Another moron... hello you even know what is margin call and forced selling or not????

sunztzhe...... Mr k's decipher

how is your master your sifu Mr k... is he going to survive his margin calls and forced selling or not????

mudajaya is down > 35%

5...

5 reasons to stay invested in O&G...


1 The rout has all started with O&G, the rebound therefor will start with O&G


2 The rout has all started with O&G, the rebound therefor will start with O&G


3 The rout has all started with O&G, the rebound therefor will start with O&G


4 The rout has all started with O&G, the rebound therefor will start with O&G


5 The rout has all started with O&G, the rebound therefor will start with O&G



Armada is the best of all the O&G.....


Armada is the best of all the O&G..... BUY ARMADA

Captain HB jump off even suffer huge loss on share


Another moron... hello you even know what is margin call and forced selling or not????

Just go get yourself screwed.... moron You basket case

Just get the fcuk out of here LOL You basket case

Then you should get the fcuk out of here LOL

Target RM2.35 (Stock Rating: ADD)




Bumi Armada closes FY14 with the finalisation of the Madura FPSO contract, which takes the company's order book to a new high of an estimated RM23.4bn. Madura also marks Bumi Armada's second FPSO contract this year and expands the company's FPSO fleet to nine vessels, its biggest ever. Management has now set its sights on four additional FPSO contracts. Our target price drops as we now value the stock at 19.5x CY16 P/E, still at a 30% premium over our revised target market P/E of 15x, from 16.3x previously. We maintain our Add call with a strong FPSO contract pipeline as potential re-rating catalyst.




What Happened

Bumi Armada announced that it has signed the Madura floating production, storage and offloading (FPSO) contract with Husky-CNOOC. The contract is for a firm 10-year, US$1.18bn charter, with five annual extension options worth US$147m. The FPSO vessel is expected to commence operations at the Madura BD field in Indonesia in 4Q16. The contract was secured by 50%-owned unit, PT Armada Gema Nusantara, on 19 Aug 2014.




What We Think

We are pleased that Bumi Armada has finalised the Madura contract after three extensions. Madura is Bumi Armada's ninth FPSO contract and the second secured this year after the US$2.9bn 1506 contract awarded in Mar. The 1506 contract is the company's biggest ever. Armed with nine FPSO vessels, the company remains the world's fifth largest FPSO operator by fleet size. Based on Bumi Armada's 50% stake, Madura gives the company's order book a 9% boost to hit a new record of an estimated RM23.4bn, second only to SapuraKencana's RM26.2bn order book. Bumi Armada also has extension options worth RM11.8bn. The company is currently bidding for four FPSO contracts - one each in Ghana, Nigeria, Namibia and Angola. Madura appears to be outgoing CEO Hassan Basma's last contract before his resignation takes effect on 1 Jan 2015. He will stay on as a consultant, working alongside acting CEO Chan Chee Beng.




What You Should Do

Take advantage of the share price correction and accumulate the shares. Despite the current oil price weakness, we continue to like Bumi Armada for its solid earnings visibility given the long-term nature of FPSO contracts, and its good leverage in the international market. All nine FPSO contracts are outside Malaysia and have no oil price connections.




Source: CIMB Daybreak - 12 December 2014, Full PDF Report





Armada's fundamentals have become even more solid that even if stuck for 1 year also no problem.. ; )

I expect to make even more money from Armada....

Bloody moron... murali.. hoping for the world to end so that he could be king... no medicine to take for being a moron... sorry murali

HaHa

No, the first casualty of the price plunged in Oil and Gas Counters.... murali...time to c doctor... and get yourself ready to be screwed kaw kaw

Careful what you wish for.... you will be screwed in more than one ways

I tell you..... if you are hoping for 0.95... you better sell all your other counters in Bursa first

cos when that happened.... you will be screwed in more than one ways

My TP 1.77 la... but CIMB's is not impossible ; )

Armada's fundamentals have become even more solid that even if stuck for 1 year also no problem.. ; )

I expect to make even more money from Armada....

Target RM2.35 (Stock Rating: ADD)




Bumi Armada closes FY14 with the finalisation of the Madura FPSO contract, which takes the company's order book to a new high of an estimated RM23.4bn. Madura also marks Bumi Armada's second FPSO contract this year and expands the company's FPSO fleet to nine vessels, its biggest ever. Management has now set its sights on four additional FPSO contracts. Our target price drops as we now value the stock at 19.5x CY16 P/E, still at a 30% premium over our revised target market P/E of 15x, from 16.3x previously. We maintain our Add call with a strong FPSO contract pipeline as potential re-rating catalyst.




What Happened

Bumi Armada announced that it has signed the Madura floating production, storage and offloading (FPSO) contract with Husky-CNOOC. The contract is for a firm 10-year, US$1.18bn charter, with five annual extension options worth US$147m. The FPSO vessel is expected to commence operations at the Madura BD field in Indonesia in 4Q16. The contract was secured by 50%-owned unit, PT Armada Gema Nusantara, on 19 Aug 2014.




What We Think

We are pleased that Bumi Armada has finalised the Madura contract after three extensions. Madura is Bumi Armada's ninth FPSO contract and the second secured this year after the US$2.9bn 1506 contract awarded in Mar. The 1506 contract is the company's biggest ever. Armed with nine FPSO vessels, the company remains the world's fifth largest FPSO operator by fleet size. Based on Bumi Armada's 50% stake, Madura gives the company's order book a 9% boost to hit a new record of an estimated RM23.4bn, second only to SapuraKencana's RM26.2bn order book. Bumi Armada also has extension options worth RM11.8bn. The company is currently bidding for four FPSO contracts - one each in Ghana, Nigeria, Namibia and Angola. Madura appears to be outgoing CEO Hassan Basma's last contract before his resignation takes effect on 1 Jan 2015. He will stay on as a consultant, working alongside acting CEO Chan Chee Beng.




What You Should Do

Take advantage of the share price correction and accumulate the shares. Despite the current oil price weakness, we continue to like Bumi Armada for its solid earnings visibility given the long-term nature of FPSO contracts, and its good leverage in the international market. All nine FPSO contracts are outside Malaysia and have no oil price connections.




Source: CIMB Daybreak - 12 December 2014, Full PDF Report

In fact.... looking at the price.... I think EPF has started liao

This is fact.....


Bumi Armada announced that it has signed the Madura floating production, storage and offloading (FPSO) contract with Husky-CNOOC. The contract is for a firm 10-year, US$1.18bn charter, with five annual extension options worth US$147m. The FPSO vessel is expected to commence operations at the Madura BD field in Indonesia in 4Q16. The contract was secured by 50%-owned unit, PT Armada Gema Nusantara, on 19 Aug 2014.



Tallies with what I say....

The new contract has been structured so beautifully for Armada.... think this is the type of contract where the major want to buy over the FPSO at the end of the contract... beautiful


Profit starting to come in immediately in the current quarter ending December 2014.... Fabulous, no need to wait for sail off... for first oil... start immediately from 8 August... and last for ten years.. with option to extend for 5 more years

Armada's fundamentals have become even more solid that even if stuck for 1 year also no problem.. ; )

I expect to make even more money from Armada....

what give you that idea???

Target RM2.35 (Stock Rating: ADD)




Bumi Armada closes FY14 with the finalisation of the Madura FPSO contract, which takes the company's order book to a new high of an estimated RM23.4bn. Madura also marks Bumi Armada's second FPSO contract this year and expands the company's FPSO fleet to nine vessels, its biggest ever. Management has now set its sights on four additional FPSO contracts. Our target price drops as we now value the stock at 19.5x CY16 P/E, still at a 30% premium over our revised target market P/E of 15x, from 16.3x previously. We maintain our Add call with a strong FPSO contract pipeline as potential re-rating catalyst.




What Happened

Bumi Armada announced that it has signed the Madura floating production, storage and offloading (FPSO) contract with Husky-CNOOC. The contract is for a firm 10-year, US$1.18bn charter, with five annual extension options worth US$147m. The FPSO vessel is expected to commence operations at the Madura BD field in Indonesia in 4Q16. The contract was secured by 50%-owned unit, PT Armada Gema Nusantara, on 19 Aug 2014.




What We Think

We are pleased that Bumi Armada has finalised the Madura contract after three extensions. Madura is Bumi Armada's ninth FPSO contract and the second secured this year after the US$2.9bn 1506 contract awarded in Mar. The 1506 contract is the company's biggest ever. Armed with nine FPSO vessels, the company remains the world's fifth largest FPSO operator by fleet size. Based on Bumi Armada's 50% stake, Madura gives the company's order book a 9% boost to hit a new record of an estimated RM23.4bn, second only to SapuraKencana's RM26.2bn order book. Bumi Armada also has extension options worth RM11.8bn. The company is currently bidding for four FPSO contracts - one each in Ghana, Nigeria, Namibia and Angola. Madura appears to be outgoing CEO Hassan Basma's last contract before his resignation takes effect on 1 Jan 2015. He will stay on as a consultant, working alongside acting CEO Chan Chee Beng.




What You Should Do

Take advantage of the share price correction and accumulate the shares. Despite the current oil price weakness, we continue to like Bumi Armada for its solid earnings visibility given the long-term nature of FPSO contracts, and its good leverage in the international market. All nine FPSO contracts are outside Malaysia and have no oil price connections.




Source: CIMB Daybreak - 12 December 2014, Full PDF Report

Malaysian Airlines... got a few rounds mah...

now EPF not even one round....

muscle.... that is precisely what I am talking about

will the govermon let things go that way?????

all identified liao.............



PETRONAS will bail out the govermon.... PETRONAS will just do austerity, don't talk so much


BNM will focus on RM..... Zeti looks like dependable and still cool


EPF shall take care of the BursaM.... wait for the timing only EPF... third week, third week

What You Should Do

Take advantage of the share price correction and accumulate the shares. Despite the current oil price weakness, we continue to like Bumi Armada for its solid earnings visibility given the long-term nature of FPSO contracts, and its good leverage in the international market. All nine FPSO contracts are outside Malaysia and have no oil price connections.

Target RM2.35 (Stock Rating: ADD)




Bumi Armada closes FY14 with the finalisation of the Madura FPSO contract, which takes the company's order book to a new high of an estimated RM23.4bn. Madura also marks Bumi Armada's second FPSO contract this year and expands the company's FPSO fleet to nine vessels, its biggest ever. Management has now set its sights on four additional FPSO contracts. Our target price drops as we now value the stock at 19.5x CY16 P/E, still at a 30% premium over our revised target market P/E of 15x, from 16.3x previously. We maintain our Add call with a strong FPSO contract pipeline as potential re-rating catalyst.




What Happened

Bumi Armada announced that it has signed the Madura floating production, storage and offloading (FPSO) contract with Husky-CNOOC. The contract is for a firm 10-year, US$1.18bn charter, with five annual extension options worth US$147m. The FPSO vessel is expected to commence operations at the Madura BD field in Indonesia in 4Q16. The contract was secured by 50%-owned unit, PT Armada Gema Nusantara, on 19 Aug 2014.




What We Think

We are pleased that Bumi Armada has finalised the Madura contract after three extensions. Madura is Bumi Armada's ninth FPSO contract and the second secured this year after the US$2.9bn 1506 contract awarded in Mar. The 1506 contract is the company's biggest ever. Armed with nine FPSO vessels, the company remains the world's fifth largest FPSO operator by fleet size. Based on Bumi Armada's 50% stake, Madura gives the company's order book a 9% boost to hit a new record of an estimated RM23.4bn, second only to SapuraKencana's RM26.2bn order book. Bumi Armada also has extension options worth RM11.8bn. The company is currently bidding for four FPSO contracts - one each in Ghana, Nigeria, Namibia and Angola. Madura appears to be outgoing CEO Hassan Basma's last contract before his resignation takes effect on 1 Jan 2015. He will stay on as a consultant, working alongside acting CEO Chan Chee Beng.




What You Should Do

Take advantage of the share price correction and accumulate the shares. Despite the current oil price weakness, we continue to like Bumi Armada for its solid earnings visibility given the long-term nature of FPSO contracts, and its good leverage in the international market. All nine FPSO contracts are outside Malaysia and have no oil price connections.




Source: CIMB Daybreak - 12 December 2014, Full PDF Report

Posted by AhMoi > Dec 12, 2014 02:44 PM | Report Abuse X

frustration is.............. prince Charles waiting to be king


my father's time talk until now LOL


so you all take your time, ya ; )

Posted by AhMoi > Dec 12, 2014 02:44 PM | Report Abuse X

frustration is.............. prince Charles waiting to be king


my father's time talk until now... HoHoHo

Posted by AhMoi > Dec 12, 2014 02:44 PM | Report Abuse X

frustration is.............. prince Charles waiting to be king


my father's time talk until now LOL ; )

Posted by AhMoi > Dec 12, 2014 02:44 PM | Report Abuse X

frustration is.............. prince Charles waiting to be king


my father's time talk until now LOL HaHaHa

frustration is.............. prince Charles waiting to be king


my father's time talk until now LOL

Posted by AhMoi > Dec 12, 2014 02:28 PM | Report Abuse X

Buying a share just because of its high NAV when you are not the controlling shareholders is just like......


ya, your papa is a multi millionaire but he is just 45 years old...... so, yes, you are a rich guy, on paper, yes, but you are not going to be able to lay you hands on those millions in a long long long long time, until and unless your papa says yes...



Misguided.... those who are asking you to buy this kind of share

Posted by AhMoi > Dec 12, 2014 02:28 PM | Report Abuse X

Buying a share just because of its high NAV when you are not the controlling shareholders is just like......


ya, your papa is a multi millionaire but he is just 45 years old...... so, yes, you are a rich guy, on paper, yes, but you are not going to be able to lay you hands on those millions in a long long long long time, until and unless your papa says yes...



Misguided.... those who are asking you to buy this kind of share

and, all identified liao.............



PETRONAS will bail out the govermon.... PETRONAS will just do austerity, don't talk so much


BNM will focus on RM..... Zeti looks like dependable and still cool


EPF shall take care of the BursaM.... wait for the timing only EPF... third week, third week

not that bad la......

petrol at the pump cheap already mah

Posted by AhMoi > Dec 12, 2014 02:28 PM | Report Abuse X

Buying a share just because of its high NAV when you are not the controlling shareholders is just like......


ya, your papa is a multi millionaire but he is just 45 years old...... so, yes, you are a rich guy, on paper, yes, but you are not going to be able to lay you hands on those millions in a long long long long time, until and unless your papa says yes...



Misguided.... those who are asking you to buy this kind of share