nikicheong

nikicheong | Joined since 2017-02-10

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Stock

2021-02-11 12:54 | Report Abuse

Armads is gonna be winning soon xdxd

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2021-02-09 22:14 | Report Abuse

^Above contract is not FPSO contract, but OSV

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2021-02-09 22:14 | Report Abuse

Bumi Armada apparently won a new contract from ONGC.

Any news about this?

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2021-02-09 11:24 | Report Abuse

Still slowwww

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2021-02-08 14:03 | Report Abuse

Until now oil counters are quiet. One of the days they will wakes. And then good quarters. Can RM0.50 by end of Feb 2021!

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2021-02-08 09:07 | Report Abuse

Pathetic la. What the hell is the problem? 6th straight day of crude oil price gains. Haiiihhh....gotta hold strong boys!

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2021-02-08 00:02 | Report Abuse

This week is the week

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2021-02-05 13:42 | Report Abuse

Expecting write back for Kraken. Efficiency and performance in the final quarter of 2020 was at around 88%. Kraken was written down due to very poor efficiency in the initial two years.

Prepare to be positively surprised! :)

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2021-02-05 11:13 | Report Abuse

Need to wait for the investment banks to release a sector update for the oil and gas sector. Once the funds see it, then they will buy the oil and gas counters.

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2021-02-05 11:12 | Report Abuse

But...it is darkest before dawn!

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2021-02-05 09:34 | Report Abuse

What is wrong with oil counters on Bursa...

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2021-02-04 17:09 | Report Abuse

Guys, something might be afoot. The FPSO for ONGC 98/2 project has been named Armada Sterling V.

The FPSO under JV with Shapoorji Pallonji is named as following

Armada Sterling I in India
Armada Sterling II in India
Armada Sterling III in Indonesia
Armada Sterling V in India (under construction)

Soooo, the million dollar question is, why name it Armada Sterling V, rather than Armada Sterling IV. Did Bumi Armada and Shapoorji win a contract where the FPSO was named Armada Sterling IV but we don’t know about it? Perhaps a redeployment for Armada Claire? Hmmmm....

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2021-02-04 10:05 | Report Abuse

Wow what is happen to beloved armada

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2021-02-02 22:27 | Report Abuse

Results are out in 3 weeks time.

Important bits:

1. Idle vessel costs...can sell or redeploy? Especially Armada Claire.

2. Loan payments that are due. Can refinance?

3. What’s happening with Armada Sterling V...is it still on?

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2021-01-29 16:07 | Report Abuse

Armada short interest is merely 0.25%.

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2021-01-20 15:44 | Report Abuse

What waiting for...

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2021-01-10 21:38 | Report Abuse

Huat for next week!

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2021-01-09 20:55 | Report Abuse

Very bad. Looks like insider was offloading? ??

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2021-01-07 12:24 | Report Abuse

Heavy pressing.

This year end 2021 will be at RM0.65++

Key thing is refinance debt, Kraken stays issue free, sell a few more OSV and OSV utilisation increase. Ensure 98/2 no compensation.

If sell Claire lagi better.

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2021-01-04 18:41 | Report Abuse

RhB pdf report, not from thestar

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2021-01-04 16:36 | Report Abuse

Does anyone have the full RHb report?

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2020-12-17 16:56 | Report Abuse

But vwap is higher each day

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2020-12-17 16:54 | Report Abuse

4th day closing at 0.385.

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2020-12-16 19:39 | Report Abuse

No one talk fundamental? Just have a jojobaa talk about it

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2020-12-16 14:00 | Report Abuse

People, what are Fpso projects coming up that Armada could bid for?

Limbayong, Patawali, Nam Du (Vietnam), Forel (Indonesia), PY-3 (India).

Realistically, can Armada Claire get redeployment? Every year, since 2016, Bumi Armada is spending over RM50mil to maintain it. Why not just scrap? Immediately profits go up by RM50mil annually!

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2020-12-08 12:38 | Report Abuse

Jojobaa, sorry for wrong name.

FYI, Kraken is not JV. It is 100% owned vessel. JV are the Armada Sterling 1, 2 and 3 FPSOs.

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2020-12-07 15:39 | Report Abuse

Jojobee, was Kraken downtime just a week? I estimate it may have been a bit longer, like 10 days. So the loss from the Kraken shutdown would’ve been around RM20mil. Small diff, but an upside nonetheless. If the shutdown was for 2 whole weeks, then loss was RM30mkl

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2020-12-04 16:53 | Report Abuse

Poor close but what a week. Bought 350k at RM0.225 in late October 2020. Will hold till RM0.60++ levels.

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2020-11-25 12:35 | Report Abuse

My uncle say operator was pressing the price down. But why???

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2020-11-25 10:21 | Report Abuse

We want to hit RM0.40 by end year, then RM0.65 by early next year. Terminal TP should come to RM0.80 by end of next year.

Question is - what is catalyst?

If you look at Maybank TP of RM0.17 based on SOTP, they use net debt of RM8.3 bil as opposed to latest figure of RM7.9bil. This alone adds RM0.08/share to the value. They also knocked down Kraken NPV, while recently Bumi Armada has begun writing back Kraken's value. So the NPV there is wonky. Plus they assume ZERO extensions for all their projects. Very dumb TP by Maybank.

I think catalyst is if they announce debt restructuring by year end. Or if ONGC confirms that the 98/2 FPSO is a go. Or if they announce a significant OMS contract. Or if they sell / get a contract for Armada Claire.

All I can say is Bumi Armada is very undervalued. They are "cleaning up" (selling cold stacked OSVs slowly). Plus depreciation charges have increased this year, which means future depreciation will be lower and the Company's future profitability could be enhanced.

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2020-11-25 09:41 | Report Abuse

@GGecko, how is budget relating to Bumi Armada? >98% of their revenue is from outside Malaysia ma

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2020-11-25 09:34 | Report Abuse

The above extract is for Armada Kraken. 10% improvement YoY until YTD October.

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2020-11-25 09:32 | Report Abuse

Read Enquest update here.

Average gross production at 37,783 Bopd in the ten months to the end of October remains ahead of the top end of guidance and has increased c.10% year on year. Production efficiency year to date remains high at 86% with the floating, production, storage and offloading vessel continuing to perform well. In September, the shutdown was successfully completed, with essential maintenance undertaken as planned.

Overall subsurface and well performance remains good and production optimisation activities continue through improved injector-producer well management. Water cut rate evolution remains stable. The Group expects Kraken production to be slightly above the 30,000 Bopd to 35,000 Bopd (gross) full year guidance range.

https://www.enquest.com/media/press-releases/article/operations-update-8

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2020-11-25 09:31 | Report Abuse

Crude oil rally also Armada barely moving. I wonder what is holding it back??

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2020-11-24 21:43 | Report Abuse

Can anyone pls share the latest report from RHB and CIMB for Armada? It's not posted on this website.

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2020-11-19 15:14 | Report Abuse

What is pdts?

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2020-11-19 15:11 | Report Abuse

What is PDFs?

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2020-11-19 14:54 | Report Abuse

True, no selling pressure, so there's that. Though presumably those who bought with insider information or rumour of the results releasing (see how the price went up the past few days), may have sold at the open at 2.30pm earlier.

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2020-11-19 14:36 | Report Abuse

Is it disappointment? Or confirms that Armada's earnings capacity and debt repayment is real and in-progress?

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2020-11-19 14:33 | Report Abuse

Hmmm...market doesn't think this is good??? Haaahhhh

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2020-11-19 13:44 | Report Abuse

If we factor in the net write back on impairment loss and the unrealised loss in FX, then the core net portion will increase by RM12 mil to RM98 mil. Pretty decent.

I’m still curious why the JV is so bad. Maybe cost overruns for Kakinada project?

Also, there was a planned shutdown for Kraken in September, so revenue and profit a bit down as well due to that (easily around RM5 to 10mil profits).

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2020-11-19 13:29 | Report Abuse

Problem is there is a delay with the new Kakinada project.

Also, the results from JV for FPSO has plummeted. Any idea why folks?

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2020-11-19 12:48 | Report Abuse

Quarter on quarter, net borrowing reduces from 8.5bil to 7.9bil. Superb!

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2020-11-19 12:42 | Report Abuse

Inclusive of rm16mil impairment, meaning core net profit was above rm100 mil. Good job!

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2020-11-19 12:41 | Report Abuse

Results out. Rm85mil profit. Is good. Need to read rest of financial statememt to see if got improvement.