Banks will just take back whatever Armada can produce now and that also not enough to settle interest repayment. Armada will not have any spare money to expand or do anything else. Just to survive, most likely will cut cost on Ship maintenance and sell their old 2nd hand ships ( already did, but still not enough because no value ). The danger of cut cost on ship maintenance will result in faulty ships.. which eventually become junkyard candidate.

signal is already so clear, they have to beg banks to delay repayment, of cos banks no choice but to agree.. otherwise they cant get back their money. Will any bank dare to put new money into Armada ? nobody will dare to do it. So Growth for Armada is ZERO. Their existing operations are already proven cannot cope with their debts... cannot pay debts means debts will grow, business cannot grow because no new money coming in. AS GOOD, AS DEAD..

Armada already past its prime time, its on its way to bankruptcy... debts ballooned to RM10billion... CEO with big perks and salary also run away, what do you expect.

Mabel, if Armada is so good, Armada wont end up with RM10 billion debts, from all your wonderful fairy tale story, Armada should have RM10 billion cash on hand instead.

The Fact is all the FPSO are not making money, that is why Armada debt rose to RM10 billion.

“We upgrade from hold to add as the troubled Kraken has been stabilised, and debt repayment is no longer a risk after the April debt refinancing.

“Due to the lower risk profile, we remove the 40% discount to SOP that we had applied previously; hence, our target price is raised to 36 sen, ” It said.

hahaha.... after that belakang, sell fast fast before it collapse again and no more chance to trap ikan bilis. ikan bilis sometimes can run pretty fast

Did the RM10 billion magically disappears ? it is still there... just delayed for a short while. No guarentee Kraken wont cause trouble, it was already know North Sea is a terrible place to do work and Kraken has to be put into heavy load every single day.

ikan bilis... ikan bilis...

Moneykj1 0.25 v190m
03/09/2019 4:49 PM

congratz... spot on

Mabel You want to see how resilient these energy companies, go and watch Sumatec. No orders still can sustain..

---
Sumatec only 3 sen lah, somemore Sumatec dont have RM10 billion debt.

and Kraken operating in North Sea.... watch this storm https://www.youtube.com/watch?v=tIPOhZLRgyM

that is why SAPNRG is only 28sen... same boat with Armada.. just dont know which one will go bust first.

Mabel..all their oil fields ar joint venture with Petronas

Claire wont get back any money, they just close down that company habis cerita. Kraken still have problems, more compensation pay out is expected. RM10 billion debt.. damm how to even pay the interest ? RM500 million a year.

sapnrg spoon feed by Petronas,,, backed by petronas. It has oil fields and other engineering works... even that it is in deep trouble. Armada got what ?

they are desperate, have to dig out all the "good news" to get alot of small players to buy Armada shares while they unloads.

86chong https://www.oedigital.com/news/470206-sembmarine-wins-india-fpso-contr...
---

https://www.marinetraffic.com/en/ais/details/ships/shipid:374428/mmsi:...

that ship is already 18 yr old, alot of money will be spent to convert it into FPSO... Armada going to take additional loans ? If cannot deliver on time or problematic, it will be another Kraken.. pay a lot of penalty

Moneykj1 8.8 billion over a 9 years span period..each yr is 1 billion..JV armada own 30% ...thus 333million per year...finance cost is rm 528 million per year...haha

---

How to get RM528 million a year just to pay interest... that not even touched the original loan amount.

aiya... 40-50c... u got to be kidding, if can escape now at 26.5 sen consider very good already loh

uncle koon say XINQUAN very good, solid profit growth... what happened ?

Johnfatt i remember when i was struggling with hibiscus at 0.2x everyone said it was hopeless.
---
Does Hibiscus have RM10 billion debt ?

pang72 Armada used to be rm1 above...

----

Transmile used to be RM50 above

qqq3 5 fpso, $ 10 billion borrowings not excessive......now, just have to solve some problems.
--
IF RM10 billion is not a problem, they they dont need to beg the banks to delay repayment. Can easily pay what they are supposed to pay BUT they cant. Means cannot handle the debts.. FPSO not producing enough money for them.

SuperPanda im not denying the debt but has replied long ago to pearlwhite, we not gonna stay here until company settle all the debt

once meet target will be enough

----

see, now admit they are all waiting to run... what is your target then ?

qqq last time where got RM10 billion debt , your RM2 era is long gone. It is no longer the same now

later when reality bits in, got chance to get out a 1 sen or 0.5sen loss become 26 sen loss when it finally go bust....RM10 billion debt.

typical... all want to run but cannot run scare will lose 1 sen or 0.5sen. Now try to hardsell to clueless newbies to takeover their shares

MIDF give a fair value, everyone also can give a fair value... whatever fair or unfair value they give, facts is still the same... they cant cope with the RM10 billion debt.

Recently they have to beg the banks to extend their bank repayment, luckily they manage to delay it ( unfortunately slapped with additional terms ).. means what ? meaning they cannot pay back the banks as agreed earlier with the banks. Time is running out PN1 is knocking on the door... just how many times you can delay the banks.

first check nasi lemak is over night basi already or not. RM10 billion debt with ZERO INTEREST, if one year they pay back RM200 million, it will take need 50 years to do it. Where got so much money ? With Bank Loan Interest, I dont know how they will ever be able to pay back. Their Assets, 2nd hand ships are getting older each day, soon will be impossible to sell.

This company is impossible to turn around... no banks will dare to give them new loans to refinance old loans... all they can do is delay repayment ( with some additional bad terms ) or issue a PN1 on Armada. Just matter of time before it comes to a conclusion.

This is just a private company if it goes bust , it just go bust. Nobody will rescue it. Assets are just 2nd hand old ships, not much value in them

if you dare to and buy more lah.. see what happens next

RJ87, the problem is they cant solve the debt problem. It is as good as dead

once panic selling is triggered... habis... because nobody will dare to take up fresh position

sure scared lah... RM10 billion u know.. for some company RM100 million debt already bad enough, 100 times RM100 million

No right Nor wrong Only to Win I expect more for

Unexpected surprises from armada

---

Of cos it will, will it be a PN1 or PN17 ?

so other billis.. now they admit.. they are misleading all of you. They actually know about the RM10 billion debt, not never once mentioned it until forced to. Run before they run.

No right Nor wrong Only to Win What does that imply ?
Why just stop selling ?

Reviewing of the renewal outlook ?

---

They already know the financial results even before it comes out. They want to wait for bilis to buy and push up the share price before they sell. Who knows they may be seling now, just not yet announce.

ckca No right Nor wrong Only to Win Why EPF stop selling ahh ?

---

go and see may 2019 until now, how much EPF have sold and how many they bought ?

in May 2019 they have more than 7%, now only 5% . For a 6 billion share company, 2% is alot of shares.

you people outside here think u knows better than Armada CEO ( insider )

You know why CEO run away ?. IF Armada suddenly stop paying EPF, CEO have to use personal money to pay or go to jail. CEO knows everything in the company... big salary also dont want because he knows the danger.

Jason Tay qqq just ignore them ...

I tell the dog , keep holding like mabel say .

----

so confident ah.. just explain how to deal with RM10 billion debt ? at 5% interest, each year have to pay 500 million just bank interest alone. How about debt capital repayment, ships maintenance, operating cost and etc... this company is beyond rescue already. That is why CEO ran away

MM78 MM78 It is apparent Armada share price is on up trend and some short sellers are desperate to talk down despite the situations turn better. Many long term investors may resist these IDSS syndicate constant negative talks better than those who want immediate gratification from their buy low sell high. Let us keep our faith base on rationale and ignore those who tried all ways including abusive postings to intimidate those who do not succumb to their tricks..Indeed , we also need to beware of the on going trade war between China and USA, currently impacting world trade but Trump may just change course to save his Presidential re-election. Recession may come sooner or later is anyone’s guess.

000

hello..there are 6 billion shares out there, a few negative talk here wont be able to move share price down,,, but RM10 billion debt surely can.

qqq3 I am here to make money not argue with you.....


and if u don't trust the published results, nothing to talk.....and if you don't like the risk, then go choose another stock.............

----

The reason I am here is not to buy Armada. I am here to watch people lose money, some kind of entertainment to me... especially after being warned and waken up still want to continue in their dream land, to lose money.

Armada has almost 6 billion shares, how to talk here and expect it to go up. Tons of people out there want to sell before it goes bust with RM10 billion debt to deal with. They only need one default payment to bank, it will dip below 10sen.. nobody will dare to lease ships from them.. they are finished. This something very hard for them to escape... in fact almost impossible when you have RM10 billion debt against such revenue.

it is very common for a company that is going bust to announce an "above expectation" result before going bust. No way Armada can survive from such a huge debt... they have no valuable assets, 2nd hand old ships wont get much money from sales. While waiting for sales of assets, they have a huge maintenance cost on the Ships, all exposed to the highly corrosive Sea/Ocean environment. Ship engine and other machinery has to run all the time and parts are expensive to deliver and expensive and difficult to install.

Mabel, if dont sell , future go bankrupt and delisted... Means 0 sen, lose 26sen. Can still run dont want to run. Just wait until the RM10 billion debt fall on top.

better lose 1 sen than lose 26 sen

qqq3 y cheemeng79 > Sep 3, 2019 10:27 AM | Report Abuse

@qqq.....thanks for the guidance. i agree with you. Armada has high debt but it is reflected The worse is over foe Armada into share price.
========

I just saying stuffs as I see it and my opinion...this moneykj1, God knows what he doing.......

---

worse is not over... worse is yet to come. Debt is way too high and nobody can rescue it. Death cannot be avoided.

Date of change 15 May 2019
Name MR LEON ANDRE HARLAND
Age 49
Gender Male
Nationality Netherlands
Designation Chief Executive Officer
Directorate Executive
Type of change Cessation of Office
Reason Mr Leon Andre Harland will be concluding his contract of employment with the Company on 16 May 2019. Due to personal reasons, Mr Harland will be returning to his home country, and therefore, will not be renewing his term with the Company.

they go and lease their ships to others, if the other company bankrupt.. Armada wont get any payment. Trade war on going, lots of company may go under.

because it is not worth saving, this industry is over crowded, low return and dying.

SuperPanda.. some time back we have transmile .. also lots of toxic assets. Imagine Robert Kwok also allow its company to bungkus.

sorry mistake it is RM10 billion debt... I forget to add in some of then debts.