you can go shit in your pants right now scammer

PETALING JAYA: BUMI ARMADA BHD’s claim against Australia’s oil firm Woodside for the termination of a contract for its floating production storage and offloading unit (FPSO) vessel Armada Claire back in 2016 has been dismissed in court.

In a filing with Bursa Malaysia yesterday, the FPSO specialist said its subsidiary Armada Balnaves Pte Ltd would need to pay Woodside Energy A$1.57mil (RM4.33mil) for reimbursement of miscellaneous charges.

Shares in Bumi Armada took a beating yesterday, plunging more than 9% to close at 46.5 sen apiece giving it a market capitalisation of RM2.47bil.

Despite the charges, Bumi said the firm was entitled to a payment of US$2mil for unpaid milestone claims and A$341.2mil for unpaid invoices.


“The Supreme Court ruled in favour of Woodside Energy on Armada Balnaves’ main claim of repudiation of the contract.

In 2016, Woodside terminated the contract with Armada Claire FPSO that was operating at the Balnaves Field, offshore north-western Australia since August 2014.

Following the termination, Bumi Armada, via its Armada Balnaves subsidiary, took legal action against Woodside seeking a A$283.5mil (RM1.15bil) compensation.

The trial for the case was held in February and March 2019, and last week the court found in favour of Woodside and dismissed Bumi Armada’s A$283.5mil compensation claim.

Bumi Armada said the company is currently reviewing the judgment and considering possible grounds of appeal. Any appeal is to be lodged by Feb 14.

Notably, since the termination of the contract for Armada Claire, Bumi Armada has been actively looking to sell the vessel to pare down debts and partly fund its capital requirement for its FPSO project in India.

Last week, the Employees Provident Fund had ceased to be substantial shareholder of Bumi Armada.

For the first nine months ended Sept 30, Bumi Armada staged a turnaround with a net profit of RM293.79mil compared to a net loss of RM1.04bil in the previous corresponding period.

scammers in armada runnnnnnnnnn

Bumi Armada loses Woodside dispute

PETALING JAYA: BUMI ARMADA BHD’s claim against Australia’s oil firm Woodside for the termination of a contract for its floating production storage and offloading unit (FPSO) vessel Armada Claire back in 2016 has been dismissed in court.

In a filing with Bursa Malaysia yesterday, the FPSO specialist said its subsidiary Armada Balnaves Pte Ltd would need to pay Woodside Energy A$1.57mil (RM4.33mil) for reimbursement of miscellaneous charges.

Shares in Bumi Armada took a beating yesterday, plunging more than 9% to close at 46.5 sen apiece giving it a market capitalisation of RM2.47bil.

Despite the charges, Bumi said the firm was entitled to a payment of US$2mil for unpaid milestone claims and A$341.2mil for unpaid invoices.


“The Supreme Court ruled in favour of Woodside Energy on Armada Balnaves’ main claim of repudiation of the contract.

In 2016, Woodside terminated the contract with Armada Claire FPSO that was operating at the Balnaves Field, offshore north-western Australia since August 2014.

Following the termination, Bumi Armada, via its Armada Balnaves subsidiary, took legal action against Woodside seeking a A$283.5mil (RM1.15bil) compensation.

The trial for the case was held in February and March 2019, and last week the court found in favour of Woodside and dismissed Bumi Armada’s A$283.5mil compensation claim.

Bumi Armada said the company is currently reviewing the judgment and considering possible grounds of appeal. Any appeal is to be lodged by Feb 14.

Notably, since the termination of the contract for Armada Claire, Bumi Armada has been actively looking to sell the vessel to pare down debts and partly fund its capital requirement for its FPSO project in India.

Last week, the Employees Provident Fund had ceased to be substantial shareholder of Bumi Armada.

For the first nine months ended Sept 30, Bumi Armada staged a turnaround with a net profit of RM293.79mil compared to a net loss of RM1.04bil in the previous corresponding period.

armada? sell