i passed all CFAs, tq. I can 100% bet with u even if Bumi's operating cash flow AFTER working capital fly to RM2b, but OCF B4 working capital fall to RM0.5b, BAB will only see more loan defaults

mikekim u are misleading investors here to focus on the wrong item, please go restudy what are the most important loan covenants of FPSO and OSV business, my friend

no banks will structure their loan covenants based on DCF over EBITDA, my friend...finance 101

My gosh, please restudy what defines EBITDA my friend

Funny that some "experts" conclude that Armada's fundamentals is improving...you SHOULD NOT LOOK at operating cash flow AFTER working capital (which can be manipulated hence this number doubled yoyo to RM1.06bn), what the banks and covenants are concerned on is the OPERATING CASH FLOW BEFORE WORKING CAPITAL line...RM1b drop from RM1.3bn. PLEASE DO NOT Misled the investors here that fundamentals is improving

SpinningLotus u clearly did not read the announcement properly and assume Shahril has limitless supply...if this is the case, why he commit to minimum RM300m participation of the rights? Why not all his portion?

This is not true. Reliable source said Serba is not pursueing the stake.

Most of the RM17 billion is from the Brazil contract, which is an associate income so it won't be in the revenue line. If they don't win new contracts, their revenue for next year may only be half of this year.

>>
risktransformer If u divide the RM 17 billion contracts by 3 years, that means RM 5.67 billion per year earnings.... compare to SAPNRG's current market capitalization of RM 4.04 billion, u get RM 1.40 earnings per RM invested (of course, the RM 1.40 earnings may not translate into profits after paying expenses & taxes).

*losses caused by impairments

Orange88, dont be confused with Sapura 2016 loss - those were impairment losses, not operational losses

UOB had sell call all along, previous target was RM1.32 when share price was at RM1.60