Posted by InvestorKING > 2020-03-04 09:17 | Report Abuse

https://oilprice.com/

Now oil price continue up and djia future continue up seems like no effect to Armada already, but when oil price down and djia down, Armada sure follow down

Posted by bullrun1985 > 2020-03-04 09:23 | Report Abuse

no IDSS, now trade at 0.30

Posted by bullrun1985 > 2020-03-04 09:24 | Report Abuse

makan all IDSS at 0.305, Banggang RJ87, where are you now?

Posted by OOMMGG > 2020-03-04 09:46 | Report Abuse

All waiting for opec meeting outcome now.

Posted by InvestorKING > 2020-03-04 09:47 | Report Abuse

KUALA LUMPUR: The latest round of financing announced by floating production storage and offloading (FPSO) operator Bumi Armada Bhd is seen as giving it more time to resolve its tight cash flow position.

But having recategorised the bulk of its short-term debt to long-term, analysts are mixed on the progress of the company’s road to turn around.

On one hand, the view is that Bumi Armada needs to lay out its restructuring plan more clearly to address its high debt level, while another pointed to the improving operating cash flow as a positive sign.

Bumi Armada said on Monday it had secured a loan facility of US$64.3 million (RM270.7 million) due Dec 31, 2021. The loan was obtained from Singapore’s ING Bank NV by Bumi Armada’s wholly-owned unit Armada TGT Ltd.

The new loan comes as good news for the company, which is working hard to reduce its short-term liabilities and pare down its overall debt to clean up its balance sheet.

In its latest quarterly results’ note, Bumi Armada said its lender for Armada Kraken Pte Ltd (AKPL) has agreed to remove the risk of having to prepay its long-term loan of RM1.33 billion, previously classified as short-term liability due to non-compliances related to the FPSO Kraken vessel project.

With the AKPL loan set to be recategorised, Bumi Armada’s short-term debts now amount to RM1.145 billion, comprising RM813.24 million term loans and another facility of RM301.55 million.

In November last year, Bumi Armada’s major shareholder Usaha Tegas Sdn Bhd provided commitment to financing US$75 million to refinance an existing facility and to fund Bumi Armada’s 30% equity interest in a joint-venture project in India.

Coupled with this latest loan of RM271 million, that leaves another RM874 million short-term debt which the company has to pay off or refinance in the near term.

Between October and December 2019, Bumi Armada paid off RM389.13 million worth of borrowings.

Amid the slew of good news, one analyst with a local investment bank maintained that the crux of the problem is the group’s high gearing. Long-term borrowing still stands at RM8.345 billion after including the recategorised AKPL loans.

Finance costs for the year stood at RM555.5 million from RM522.15 million the year before — more than its gross profit of RM553.44 million for the same period.

“The financing is a good short-term relief to support its cash flow. But considering its predicament, it might find it difficult to negotiate the terms of financing,” an analyst with a regional bank told The Edge Financial Daily.

“Considering its high debt level, refinancing is not a long-term solution. It still has to figure out how to turn things around.

“It helps if Bumi Armada can secure redeployment for FPSO Claire, or if it manages to monetise its FPSO assets while still retaining control, such as its prized asset FPSO Olombendo,” the analyst added.

Another analyst with a local investment bank, meanwhile, highlighted the company’s improving operating cash flow of over RM700 million last year — adding that it could improve further from better contribution from FPSO Kraken on improved uptime performance.

“It (Bumi Armada’s financial position) does not seem as alarming as it once was,” said the analyst. “It depends on the discount warranted on this company … considering the negative surprises previously.”

The counter, which is linked to tycoon Ananda Krishnan, has a wide range of target price (TP) from a low of 20 sen to a high of 75 sen per share, with an average TP of 48 sen per share.

It closed unchanged at 31 sen yesterday, with a market capitalisation of RM1.82 billion. Bumi Armada was among the top active counters on Bursa Malaysia, with some 72.97 million shares traded.

The counter retreated from its high of 54 sen in January, following weaker oil prices amid concerns about global demand due to the Covid-19 outbreak, and further dragged down by weaker results for the fourth quarter ended Dec 31, 2019 (4QFY19).

For the quarter, the group booked an impairment amounting to RM233.6 million on accrued lease rental in relation to the unsuccessful legal claim against Woodside Energy pertaining to the wrongful termination on FPSO Claire. It is currently filing an appeal against the decision.

Meanwhile, there is also the possibility of partial write-back on impairment worth RM479 million made in 4QFY18 arising on FPSO Kraken, which saw improved uptime performance last year.

Posted by InvestorKING > 2020-03-04 10:02 | Report Abuse

This counter every single minute got selling 14 or 15, or 148

Posted by InvestorKING > 2020-03-04 10:02 | Report Abuse

Still seducing shorties to keep shorting

Posted by bullrun1985 > 2020-03-04 10:13 | Report Abuse

IK, ur 12 mil value already shrink to 50%, what you will do next step

Posted by InvestorKING > 2020-03-04 10:27 | Report Abuse

Now Armada totally no fund buying already

Posted by InvestorKING > 2020-03-04 10:39 | Report Abuse

Only shorties short everyday

Posted by InvestorKING > 2020-03-04 10:42 | Report Abuse

2,3,4.... Selling every single minute

Posted by InvestorKING > 2020-03-04 10:43 | Report Abuse

But no fund buying all

Posted by TAK1 > 2020-03-04 10:52 | Report Abuse

Russia only needs 43usd per barrel, saudi needs double for budget. Saudi will cut 500k on its own. Keep your shares for Friday else monday.

https://www.thestar.com.my/news/regional/2020/03/04/opec-to-try-to-stem-oil-price-plunge-amid-coronavirus-slowdown#cxrecs_s

Posted by bullrun1985 > 2020-03-04 11:05 | Report Abuse

0.29 coming otw

Posted by TAK1 > 2020-03-04 11:07 | Report Abuse

Barakah to expose bribery in Petronas via lawsuit as blackmail threat for Malaysia biggest co by value for out if court settlement.

Posted by InvestorKING > 2020-03-04 11:14 | Report Abuse

No buying at 0.31, manipulation again?

Posted by TAK1 > 2020-03-04 11:31 | Report Abuse

There u go ik for some write ups like gambling but lose not 100% in sharemarket unless soi siaw already.


https://www.google.com/amp/s/oilprice.com/Energy/Energy-General/Lukoil-1-Million-Bpd-OPEC-Cut-Send-Oil-To-60.amp.html

Posted by TAK1 > 2020-03-04 11:34 | Report Abuse

Putin agrees.

https://oilprice.com/Energy/Oil-Prices/Putin-Hints-Russia-May-Participate-In-Newest-Round-Of-OPEC-Cuts.html

Posted by AlvinTSK > 2020-03-04 11:39 | Report Abuse

Just because the oil price spike due to speculation on Opec+ cut... you straightaway jump into a sinking ship??!! Then you better la go to casino and play big or small!! Gambling mode on ....

Posted by TAK1 > 2020-03-04 11:39 | Report Abuse

This is the negative write up oil at 53 now

https://oilprice.com/Energy/Crude-Oil/The-Odds-Are-Stacked-Against-Oil-As-Recession-Looms.html

Posted by InvestorKING > 2020-03-04 11:44 | Report Abuse

Totally no people buying at 0.31???

Posted by InvestorKING > 2020-03-04 11:47 | Report Abuse

Every 3 minutes selling 27, 28, 29

Posted by TAK1 > 2020-03-04 11:48 | Report Abuse

WTF speculate my ass this is write up for tomorow event use your balls or brains or use it togerher to decide. You should buy yinson rm7 profit 250m debt 5B.

Posted by TAK1 > 2020-03-04 11:50 | Report Abuse

Make sure got money dont talk cock no money no fun you only at the end. I make some cash or lose some only got a bit of rush.

Posted by TAK1 > 2020-03-04 11:55 | Report Abuse

U are the speculating until armada so undervalue by business sense.

Posted by SuperPanda > 2020-03-04 12:23 | Report Abuse

oil still low, market still weak, wait .28 and below

Posted by AlvinTSK > 2020-03-04 12:30 | Report Abuse

Will park a base line on .25 and another .2

Posted by acinanatucer > 2020-03-04 12:40 | Report Abuse

good to hear that..

https://klse.i3investor.com/blogs/ongmy/2020-03-04-story-h1484712904-Sapura_Energy_to_commercialise_gas_reserves_from_SK408_Phase_1.jsp

Posted by RJ87 > 2020-03-04 12:53 | Report Abuse

Alvin, people like u...better don’t park at all.

Waste ur time nvm. Buy high sell low n come here kao beh kao bu...better don’t park...

Go buy yinson

Posted by InvestorKING > 2020-03-04 12:54 | Report Abuse

Now Armada operator pakat with EPF to short sell the shares and attract more shorties to short then collect more from the back

Posted by InvestorKING > 2020-03-04 12:55 | Report Abuse

EPF selling more and more shares for this counter

Posted by Warriors88 > 2020-03-04 13:33 | Report Abuse

https://www.theedgemarkets.com/article/bumi-armada-buys-time-turnaround

Posted by Warriors88 > 2020-03-04 13:34 | Report Abuse

Bumi Armada buys time for a turnaround
Adam Aziz
/
The Edge Financial Daily

March 04, 2020 08:42 am +08
This article first appeared in The Edge Financial Daily, on March 4, 2020.


-A+A
KUALA LUMPUR: The latest round of financing announced by floating production storage and offloading (FPSO) operator Bumi Armada Bhd is seen as giving it more time to resolve its tight cash flow position.

But having recategorised the bulk of its short-term debt to long-term, analysts are mixed on the progress of the company’s road to turn around.

On one hand, the view is that Bumi Armada needs to lay out its restructuring plan more clearly to address its high debt level, while another pointed to the improving operating cash flow as a positive sign.

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Bumi Armada said on Monday it had secured a loan facility of US$64.3 million (RM270.7 million) due Dec 31, 2021. The loan was obtained from Singapore’s ING Bank NV by Bumi Armada’s wholly-owned unit Armada TGT Ltd.

The new loan comes as good news for the company, which is working hard to reduce its short-term liabilities and pare down its overall debt to clean up its balance sheet.

In its latest quarterly results’ note, Bumi Armada said its lender for Armada Kraken Pte Ltd (AKPL) has agreed to remove the risk of having to prepay its long-term loan of RM1.33 billion, previously classified as short-term liability due to non-compliances related to the FPSO Kraken vessel project.

With the AKPL loan set to be recategorised, Bumi Armada’s short-term debts now amount to RM1.145 billion, comprising RM813.24 million term loans and another facility of RM301.55 million.

In November last year, Bumi Armada’s major shareholder Usaha Tegas Sdn Bhd provided commitment to financing US$75 million to refinance an existing facility and to fund Bumi Armada’s 30% equity interest in a joint-venture project in India.

Coupled with this latest loan of RM271 million, that leaves another RM874 million short-term debt which the company has to pay off or refinance in the near term.

Between October and December 2019, Bumi Armada paid off RM389.13 million worth of borrowings.

Amid the slew of good news, one analyst with a local investment bank maintained that the crux of the problem is the group’s high gearing. Long-term borrowing still stands at RM8.345 billion after including the recategorised AKPL loans.

Finance costs for the year stood at RM555.5 million from RM522.15 million the year before — more than its gross profit of RM553.44 million for the same period.

“The financing is a good short-term relief to support its cash flow. But considering its predicament, it might find it difficult to negotiate the terms of financing,” an analyst with a regional bank told The Edge Financial Daily.

“Considering its high debt level, refinancing is not a long-term solution. It still has to figure out how to turn things around.

“It helps if Bumi Armada can secure redeployment for FPSO Claire, or if it manages to monetise its FPSO assets while still retaining control, such as its prized asset FPSO Olombendo,” the analyst added.

Another analyst with a local investment bank, meanwhile, highlighted the company’s improving operating cash flow of over RM700 million last year — adding that it could improve further from better contribution from FPSO Kraken on improved uptime performance.

“It (Bumi Armada’s financial position) does not seem as alarming as it once was,” said the analyst. “It depends on the discount warranted on this company … considering the negative surprises previously.”

The counter, which is linked to tycoon Ananda Krishnan, has a wide range of target price (TP) from a low of 20 sen to a high of 75 sen per share, with an average TP of 48 sen per share.

It closed unchanged at 31 sen yesterday, with a market capitalisation of RM1.82 billion. Bumi Armada was among the top active counters on Bursa Malaysia, with some 72.97 million shares traded.

The counter retreated from its high of 54 sen in January, following weaker oil prices amid concerns about global demand due to the Covid-19 outbreak, and further dragged down by weaker results for the fourth quarter ended Dec 31, 2019 (4QFY19).

For the quarter, the group booked an impairment amounting to RM233.6 million on accrued lease rental in relation to the unsuccessful legal claim against Woodside Energy pertaining to the wrongful termination on FPSO Claire. It is currently filing an appeal against the decision.

Meanwhile, there is also the possibility of partial write-back on impairment worth RM479 million made in 4QFY18 arising on FPSO Kraken, which saw improved uptime performance last year.

Posted by AlvinTSK > 2020-03-04 13:35 | Report Abuse

Epf is gone from this sinking ship, my friend...
Noted bangang... will short then!!

Posted by Warriors88 > 2020-03-04 13:35 | Report Abuse

Good news for ARMADA, armada will fly high after the break

Posted by InvestorKING > 2020-03-04 13:44 | Report Abuse

Not really warrior, that news is this morning, but Armada not even up, and nobody buy also

Posted by InvestorKING > 2020-03-04 13:46 | Report Abuse

But EPF still keep dumping shares since yesterday, and seducing alot of shorties to short

Posted by pokimakrjrj8787 > 2020-03-04 13:46 | Report Abuse

hahahaha you know what time is it?

Posted by conmanrj878787 > 2020-03-04 14:03 | Report Abuse

its hammer time, madafakar

Posted by pokimakrjrj8787 > 2020-03-04 14:07 | Report Abuse

beware of scammers from armada!
names by gayboy conman rj87. itch, investorking,mikekim,superpanda, kim0914

impairment company? yes

high gearing company? yes

high debt company? yes

low profit company? yes

court case? yes

epf dispose armada shares? yes

loan from own company, tangan kiri masuk, tangan kanan keluar a.k.a conman company? yes

lots of fake promoters a.k.a scammers? yes

all show only, talk big ,shallow minded with no substance and bunch of self centred fakes? yes

by seeing the above, assclowns are still here try to con investors in armada!

armada is so great, better run sell as fast as you could!

Posted by conmanrj878787 > 2020-03-04 14:09 | Report Abuse

gayboy conman rj87. itch, investorking,mikekim,superpanda, kim0914 your scam has been exposed! still try to con investor here?

Posted by pokimakrjrj8787 > 2020-03-04 14:13 | Report Abuse

ha ha ha ha ha scammer alert scammer alert

Posted by pokimakrjrj8787 > 2020-03-04 14:52 | Report Abuse

hahahahahah armada scam hjas been exposed, sell run fastttttttttttttttttttt

Posted by bullrun1985 > 2020-03-04 14:53 | Report Abuse

IK, what is your strategy now???? buy now....

Posted by pokimakrjrj8787 > 2020-03-04 14:58 | Report Abuse

sell run fasttttttttttttttttttt armada is going holland liao

Posted by Warriors88 > 2020-03-04 15:12 | Report Abuse

The operators brought in huge...0.300-0.305

Posted by InvestorKING > 2020-03-04 15:18 | Report Abuse

Knm and perdana turn green already, only Armada still the same

Posted by InvestorKING > 2020-03-04 15:22 | Report Abuse

Still nobody willing to break the wall of 0.31

Posted by Warriors88 > 2020-03-04 15:32 | Report Abuse

https://www.cnbc.com/2020/03/04/oil-markets-crude-output-in-focus.html

Posted by Warriors88 > 2020-03-04 15:33 | Report Abuse

Oil clambers higher as OPEC, allies move closer to deeper output cuts
PUBLISHED TUE, MAR 3 20209:57 PM ESTUPDATED 2 HOURS AGO
Reuters
KEY POINTS
Brent crude rose by 78 cents, or 1.50%, to $52.64 a barrel at 0502 GMT, after settling down 4 cents in the previous session.
U.S. West Texas Intermediate (WTI) futures rose by 72 cents, or 1.53%, to $47.90 a barrel, up for a third session.
GP: Oil production facilities 200205 ASIA
A kayaker passes in front of an offshore oil platform in the Guanabara Bay in Niteroi, Brazil, Saturday, Feb. 1, 2020.
Dado Galdieri | Bloomberg | Getty Images
Oil prices jumped 1.5% on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.

Brent crude rose by 78 cents, or 1.50%, to $52.64 a barrel at 0502 GMT, after settling down 4 cents in the previous session. U.S. West Texas Intermediate (WTI) futures rose by 72 cents, or 1.53%, to $47.90 a barrel, up for a third session.


A panel of the Organization of Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday. The recommendation may mean that Russia and Saudi Arabia, the two biggest producers in the OPEC+ group, are close to a deal to support prices.

That would be in addition to 2.1 million bpd in current output cuts that include a 1.7 million bpd in curbs by OPEC+ and other voluntary reductions by Saudi Arabia, the world’s biggest exporter. The group is set to meet formally in Vienna on March 5-6.

“This is no time for caution for OPEC+. Second-quarter oversupply needed some heavy lifting from the group to offset even before the COVID-19 (coronavirus disease) outbreak, but now it is a must,” Barclays analysts said in a research note.

Brent and WTI have each fallen about 27% from their 2020-peak reached in January.

The expected 1 million bpd additional cut by OPEC+ would still fall well short of the newly increased 2.1 million bpd expected global demand loss in the first half alone, Goldman Sachs analysts wrote in a research note.