let them buy, they are those scavengers. they have holding power, if you have spare money...... i dont want to say much, later became scammer like rj87
I3lurker. Stay away. This market coming down across the board for many2 weeks to come. Armada/knm just resting, on their way back to square 1 at 0.22/0.20. Once they reach back to square 1, they will not rebound. Stay away from this market.
KUALA LUMPUR (Feb 27): Bumi Armada Bhd's fourth quarter net loss narrowed to RM235.18 million from RM1.26 billion a year earlier on significantly lower asset impairment involving the oil and gas support services provider's operations.
In a Bursa Malaysia filing today, Bumi Armada said revenue fell to RM515.64 million in the fourth quarter ended Dec 31, 2019 (4QFY19) from RM576.31 million a year ago. Bumi Armada's income statement showed that impairment fell to RM43.66 million from RM1.2 billion.
For the full year, Bumi Armada said cumulative FY19 net profit stood at RM58.62 million versus a net loss of RM2.3 billion a year earlier. Revenue was lower at RM2.07 billion compared to RM2.42 billion in FY18.
For me this is still good new. A turn around stories.
Next target is to file an appeal against the decision of the Supreme Court on 24 January 2020 in favour of Woodside Energy Julimar Pty Ltd.
Once we won the appeal, RM233.6 million impairment can be reversed into our book.
The reason I did that was because I worried this December quarter result will not be good
The reason I worry is because I read some of CIMB’s analyst reports dated 2018. The analyst explained that kraken faced problem during winter (December quarter). The sea kraken operating on will have very bad weather condition and stormy. The huge waves at sea creates a lot of water vapour in the form of mist. Those mist will trigger alarm system at kraken, causing it to believe that a fire has broken out. Kraken will automatically shut down the boilers powering the vessel, resulting in lost working hours
The above condition will not appear in Non Winter quarters, therefore kraken in March, June and September quarters will operate well and armada profit will be good
there is no information on whether this issue has been resolved in December quarter 2019. So I was a bit worry the same phenomena will occur, so I decided to sell my shares at 50 Sen and not wait for the December quarter result
Armada QR was out ! SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2019 Revenue RM 515,643,000 Profit/(loss) before tax RM -250,146,000 Profit/(loss) for the period RM -256,805,000
Impairment is a one-off item for most company. But for ARMADA is not an exceptional item. Live with it. More to cum. Up to date, they had impaired more than 4 billion of asset every single year without fail since 2015
The reason I did that was because I worried this December quarter result will not be good
The reason I worry is because I read some of CIMB’s analyst reports dated 2018. The analyst explained that kraken faced problem during winter (December quarter). The sea kraken operating on will have very bad weather condition and stormy. The huge waves at sea creates a lot of water vapour in the form of mist. Those mist will trigger alarm system at kraken, causing it to believe that a fire has broken out. Kraken will automatically shut down the boilers powering the vessel, resulting in lost working hours
The above condition will not appear in Non Winter quarters, therefore kraken in March, June and September quarters will operate well and armada profit will be good
there is no information on whether this issue has been resolved in December quarter 2019. So I was a bit worry the same phenomena will occur, so I decided to sell my shares at 50 Sen and not wait for the December quarter result 27/02/2020 4:12 PM
Thanks for sharing...
Good to have this information when you want to trade in Armada..
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
funky123
15 posts
Posted by funky123 > 2020-02-27 14:58 | Report Abuse
the above is scammer rj87