Btw the guys who participate based on speculation and in the end get burned out are not innocent people lah. Those guys are lalang and greedy baskets. I have no sympathy for them.

Who say Bursa and SC staff can't buy/sell stocks? I mean sure they have to disclose and maybe have cool down periods/long term holdings, but if they really cannot buy at all that's stupid. To be good enforcers you must be familiar with the system at the very least.

If anybody understand Indonesian please convey if anything positive for Bumi Armada here or not. Indonesian language drives me nuts. http://www.neraca.co.id/article/82770/kppu-gelar-sidang-dugaan-persekongkolan-pengadaan-tender

Guys, are you guys crazy or what? Armada operates on fixed rate charter for the FPSO. Price of oil at USD40 or USD80 or USD120 makes no difference to its revenue from the FPSO segment. The OMS segment meanwhile is almost effectively dead and it comes from a very low base in 2016, so again no relative "loss" of revenues from that segment.

That's one of the beauty of Bumi Armada. It DID NOT jump up in January when the rest of the oil counters jumped up due to the rebound in crude oil prices. It traded at 0.60-0.65 for the first 1.5 months of the year. It only made a decisive move upwards when Armada Olombendo reached first oil, and then again when Armada Kraken reached the destination in the North Sea.

This should tell you that the fortunes of Bumi Armada lie in its execution of the FPSO leases, and not with the global crude oil prices. There is definitely some correlation, but less so compared to other oil counters and for a good reason.

You guys are mad. You call this a selldown? What the flying f?

What is the point you say the price RM2.30 is cheap? Share base keeps diluted, did you take that into account and add it as a premium to your purchase price?

Because PMETAL doesn't value shareholders, everytime the base is diluted. Fundamental investors hate this type of management.

Walao, hold your horses lah. Won't go so high. Maybe drop even. RM0.75 is overvalued for now, in my opinion at least.

RHB research report. I missed the stock at RM1.28 (I was queuing at RM1.27!) but good luck to the rest. Hopefully RM1.60++ is obtained.

http://rhb.ap.bdvision.ipreo.com/NSightWeb_v2.00/Handlers/Document.ashx?i=62fb4b96bb9b4629b5c8bf1da5acb406

"The Kraken FPSO arrived in the North Sea in early January, having completed its journey from Singapore within the scheduled number of days. The vessel was berthed in Rotterdam for post voyage inspection and final preparations prior to sailing. The FPSO then sailed to the Kraken field once good weather conditions were anticipated for the hook up of the STP buoy mooring system to the FPSO. This was completed and a full rotation test performed so that by mid-February the vessel was on station and securely moored. The risers and umbilicals have now been successfully pulled in. Work is continuing in the turret area, as is topsides commissioning work. Following completion of the turret area work, subsea commissioning will commence. Handover of FPSO systems from commissioning to operations continues."

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Should see first oil in April-May period if all goes well.

Feisch M2U let you check online statements for past 12 months

Does AirAsia have potential to localize the core business into another new market? Or is it maxed out in the 5-6 countries it has direct operations in?

This is a long game my fellow friends. Patience is a virtue.

How's Ikhmas ?

CIMB promoted Haveaboard because their funds hold a large position in this company. See the CIMB Small Cap Fund

Guys, be ready. Tuesday Enquest will release their annual results and will give update about the Kraken project in the North Sea.

Joshua please stop talking nonsense. EPF is not all-knowing and the buying/selling is being done by 3rd party fund houses on the behalf of EPF.

1) https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwis2-7O3d3SAhXENI8KHTItDF8QIAgcMAA&url=http%3A%2F%2Fwebcache.googleusercontent.com%2Fsearch%3Fq%3Dcache%3A7yh3efxt1e0J%3Awww.upstreamonline.com%2Fhardcopy%2F1226455%2Fladol-set-fair-for-fpso-work%2B%26cd%3D1%26hl%3Den%26ct%3Dclnk%26client%3Dfirefox-b-ab&usg=AFQjCNHV7em7qJslSEJrbx1qiKEqaQCj_w&sig2=YQG2dfMr-aYahdjq2wEbJg&bvm=bv.149760088,d.c2I

2) https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&uact=8&ved=0ahUKEwis2-7O3d3SAhXENI8KHTItDF8QIAgpMAI&url=http%3A%2F%2Fwebcache.googleusercontent.com%2Fsearch%3Fq%3Dcache%3AeLAb4GQ-viUJ%3Awww.upstreamonline.com%2Fhardcopy%2F1226427%2Fongc-eyes-kg-dwn-982-floater-pre-qualification%2B%26cd%3D3%26hl%3Den%26ct%3Dclnk%26client%3Dfirefox-b-ab&usg=AFQjCNHtGb0aPBWTjHux9vjlnsM11bCDqA&sig2=aadFsjxyK7USOimI_JeAZQ&bvm=bv.149760088,d.c2I

Got updates about the projects Armada is vieing for. 98/2 and ZabaZaba. 98/2 wants a existing FPSO, Armada has Claire vacant. Both of these are rather huge contracts. Fingers crossed Armada gets at least one, both are possible too.

"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas."

Seems like undervalued. Hope it remains at 13.70 till month end so I can buy in!

What means share warrant? Is good or bad news what you say?

Forget about EPF lah. They have got so many fund houses managing the funds for them. Different fund house got different ideas. It means nothing. EPF isn't making these trades internally...it's done by external fund managers.

Three ways to get listed on Main Market.

The most realistic way for ES Ceramics is via the Profit Test method:

- Uninterrupted profit after tax (“PAT”) of 3 - 5 full financial years (“FY”), with aggregate of at least RM20 million; and
- PAT of at least RM6 million for the most recent full FY

They are on track for another RM7mil++ PAT for this financial year. Aggregate sum of the past 3 FY should reach RM20mil, otherwise from within the past 5 years it will easily reach RM20mil.

Most likely the stock will get a bump once main market listing is actively pursued/announced, with likely a split to double the stock base to enhance liquidity.

http://www.smeinfo.com.my/index.php?option=com_content&view=article&id=1148&Itemid=1156

Also, I know I read it somewhere that once they have maximized handformer margins, they are going to expand into chemicals and packaging. It was by the ED. Not sure if it was a news report or a annual/quarterly report.

This is the most recent news report (Oct 2016): http://themalaysianreserve.com/new/story/es-ceramics-aims-double-capex-rm10m-next-year

So far I'm using Maybank...it's OK lah. For full features requires Internet Explorer(!!). But in terms of fees and ease of use, no complaints. Mobile app should be improved though.

Jon Choivo, indeed I arrived at the same conclusion. Bought some lots at RM0.465 this morning.

Thing is, if you really do research into the company, it's clear that they have embarked on automation. That will see dramatic cost reduction by next year (they started in 2015, takes 3 years for results to show).

Sometimes Mr Market misprices securities, and this could be it.

Doing research into the rubber glove industry volume/output is definitely expected to get higher.

So, higher volume + lower costs + increasing market share = higher revenue and better profit margins.

Add to the fact that the company is serious about getting listed on Bursa Main Market by 2018, I think there are lots of upsides for this stock.

The trailing P/E ratio as it stands is at 12X, but the PEG ratio is where it is at! Trailing PEG ratio is at 0.48, which is great valuation!

Now question is, can NP growth of 25% be sustained? Probably not, but still just 10% YoY offers great value, not to mention dividends come into the picture going forward.

mamatede, it is, if you have a 9 month horizon at least. RM0.85 in the worst case scenario by then (barring any negative in the interim). Like I said, those who buy in >RM0.75, the stock is going nowhere in the near term. But if you bought <RM0.65, just hold it lah.

Don't know if this one simply orang main-main that's why naik, or there are some actual improvement in fundamentals. I bought in 2 weeks back at RM0.57, will be holding long term until or unless I see the company has no hope.

Guys come on lah. Don't be so immature. This is a public forum for knowledge/discussion. Take your pathetic darjah 2 jabs someplace else.

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AA doesn't seem to have much of a catalyst, price can only sustain upwards momentum if certain institutions are buying and supporting the stock. Lots of selling pressure as well as people look to take profit. This year AA will be all about the AAC disposal and also performance of its foreign airlines.

If oil prices drop, it still doesn't change Armada's charter rate. What it increases is the risk of contracts getting terminated, non-payment from clients, lower OSV utilization rates...and going forward, there will be a lack of new FPSO jobs to be given out.

It's a bit weird there is such a large movement today, nothing as a catalyst. So be careful of moments like this, we could be down tomorrow in all likelihood.

Btw Bumi Armada's "normalized" highest price is RM2.74. Don't forget there were splits and additional rights issues.

valuegrowth, come on lah. You can't be so naive, can you? Tony is a salesman, it's his job to sell, sometimes unreasonably so. Our job is to critically assess what he says.

Guys, not everything is a conspiracy lah. You think the heavyweights can so easily control such a liquid counter meh?

One thing is true is AA got lots of foreign shareholders - one of it's significant shareholder is Skagen AG, a Norwegian fund. But AA Malaysia at the moment is saturated, it will need its Indonesia, Philippines and especially India counterparts to help start delivering further growth.

Also, like someone mention above, AA P/E is very low, even if you take into account that 2016 was an extraordinary year. Not to mention a special ~RM0.30 dividend is quite possible. I think should be no issue to shoot up to RM3.50 in the next 3 or so months.

Alas, each of us have different goals and investment horizons. What's good for you may not apply to me, and vice versa.

Also worth looking the charts by Modec to see where Bumi Armada stands among the big boys as of end of June 2016. https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=10&cad=rja&uact=8&ved=0ahUKEwj4ztH25b_SAhUCebwKHTdYBhsQFghPMAk&url=http%3A%2F%2Fwww.modec.com%2Fup_pdf%2F2016_half_analystpresentation_en.pdf&usg=AFQjCNHWCOJLmNiC2dxZ_Mw1-t3wT94wfw&sig2=PeAHBpK_YrBaX7Ai-R6gHg&bvm=bv.148747831,d.dGc

Worth looking through this guys: http://www.bumiarmada.com/App_File/Image/assets/Q4-2016_Briefing_28Feb.pdf

I think Bumi Armada might have difficulties going forward. Not going to be as rosy as some of us would hope. But hopefully they can come out of all this stronger.

They mention 4 large FPSO projects they are going after: Eni ZabaZaba, Hess TCTP, Prtrobras Sepia and ONGC 98/2.

It is super super crucial for Bumi Armada to get one of these projects.

Also, it seems they may get additional contribution from Armada TGT1 in Vietnam going forward. http://webcache.googleusercontent.com/search?q=cache:33PtkZ9wW60J:www.upstreamonline.com/live/1216415/vietnam-approves-te-giac-trang-plan+&cd=1&hl=en&ct=clnk&client=firefox-b

supermx2, there are investors, and then there are speculators/traders. I am the former. I invest based on fundamentals. I do see AirAsia reaching 20bil market cap within 2 years. Not a fan of penggoreng, and as far as goreng is concerned retail person lose out to heavyweight funds since they are the ones that control price movements.

Seems a bit undervalued relative to other airlines. Maybe should call Buffet to take a stake in AA! In all seriousness, I think the larger picture is still intact. Reaching RM20bil market cap by end of 2018 should be the target.

Armada lacks a near term catalyst, don't expect the price to move much. Price may trade between RM0.70 - RM0.75 till Q2 report come out in 6 mths time. Short term catalyst is announcement of first oil/gas in Madura. Medium term catalyst is first oil for Kraken.

Additional catalyst is if the company announces it has clinched a new contract. This can happen at any time. Another catalyst would be winning litigation suit against Woodside with regards to Claire.

Of course the above are all the potential upsides. What about downsides? Not much, but if Q1 report is still very badly in the red...then there may be issues. But I think the be all and end all of Bumi Armada is Q2 report...if it is still in red, then the company is officially bungkus and even the mighty Olombendo project will not sustain it.

gcke, I don't invest using technical indicators. I invest using fundamentals. What are you trying to say? That the stock will keep going down (i.e. bad time to buy)? Either way I don't care about short term losses, this one I will hold for a while.

Came in today at RM0.57! I do think there is lots of potential for upsides with Ikhmas (relative to its direct competitors on Bursa, Econpile and Pintaras). Will be pretty happy to see it hit RM0.75-RM0.80 during the year, backed by good profit growth.

Weng, don;t think that's an issue. After all it's already on the field.

Also, worth pointing out that Armada had to pay Enquest for the Kraken delay in Q4. So that contributed to some of the losses. I'm not sure how much of a penalty it was, and not sure if they have to pay in Q1 2017 as well or not.

Indeed, but I won't be surprised we got back to RM0.6xx tomorrow or sometime these next 2 weeks.

Shauns your calculation isn't really accurate. The contract value doesn't only include the time the FPSO is active, it also includes the 2-3 years before the FPSO is active (called conversion period). Bumi Armada was earning revenue while building Kraken/Olombendo/Karupan etc from the clients. Also operations take time to speed up...you can only assume they get full contribution from Q3 onwards, though positive is there from Q1 itself given Olombendo is up and running.

Now, I think Bumi Armada will still hit RM1 but it will be very hard to go much beyond that. Or at least I hope I am wrong. I am interested to know whether Armada Perkasa and Perdana are still contributing or not (for Q3 they stopped due to issue with clients).

Still, if Bumi Armada can land just ONE major contract (such as Petrobras Sepia, or a FLNG)...then we can see it reach the heights it was before with a market cap of RM14bil.

I truly am kicking myself! Last night I said I will set a buy order at RM0.65, but then decided better I wait till the morning to see where it will open. And the worst part is...I failed the wake up earlier! Work starts 9.30am, I wanted to be there by 9am :(

Kikster, seems like a foreign fund dumped money into the stock. Usually when you see a large spike it's a foreign fund, local funds will not spike it up as much. Foreign funds care less about short term pullbacks. So it must mean they're seeing something good here long-term.

Guys, can we please talk about the dual listing? When AA gets listed in HK or NY or where ever else, will it be the "same" entity as listed on Bursa? Meaning, will they share the same market cap and price? What are the benefits for us local AA investors when a dual listing is made?

PS: Do not confuse the dual listing with the ASEAN holding company. The ASEAN listing will come later, Tony has differentiated between the two.

Surprising no sale... :(

This is such a beauty! I have been saying Armada is overvalued at RM0.7x, so now it will go back to RM0.6x. But it's hard to say for sure, since UMW had a major impairment/loss of RM2billion (!!!) but they didn't even drop 1% today. Will comment further once I have read the annual report. Feel bad for those who bought at RM0.75, but if you are a long term person rather than a momentum buyer, you should still win out in the end.