Posted by Warriors88 > 2020-03-05 18:51 | Report Abuse

This article first appeared in The Edge Financial Daily, on March 5, 2020.


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Oil and gas sector
Maintain overweight: The results for the fourth quarter of financial year 2019 (4QFY19) of the seven oil and gas (O&G) companies under our coverage were more volatile as only two of them — Petronas Gas Bhd and Serba Dinamik Holdings Bhd — came in line with expectations compared to five for the full FY19. Three of the companies — MISC Bhd, Sapura Energy Bhd and Velesto Energy Bhd — disappointed expectations versus two outperformers — Bumi Armada Bhd and Dialog Group Bhd.

While MISC enjoyed higher tanker petroleum rates, the margin improvement failed to meet street’s more ambitious estimates. Velesto Energy, which registered a surprisingly strong 3QFY19 net profit from a rig utilisation of 92%, registered lower-than-expected 4QFY19 earnings due to two rigs undergoing zero-rated maintenance activities.

Sapura Energy continued to register losses from minimal early-cycle fabrication margins derived from the huge central processing platform jobs for Sarawak’s Pegaga and India’s KG-DWN 98/2 NELP blocks amid crude oil price declines.

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Even though Bumi Armada had to provide impairments for its legal case against Woodside Energy Julimar Pty Ltd and vessels, the group’s core earnings exceeded consensus largely from the substantively higher margin improvement from its floating production storage and offloading vessel Armada Kraken, which has achieved a satisfactory operating efficiency of over 90%.

Additionally, Dialog Group enjoyed impressive overseas job growth together with expanded plant turnaround and maintenance revenues from Petroliam Nasional Bhd’s (Petronas) five-year master service agreement.

While the impact of the Covid-19 epidemic is still uncertain at this stage, Brent crude oil price has fallen almost 10% since the beginning of the year to just above US$52 per barrel currently. This signals the potential dampening of global oil demand as US oil inventories have risen by 3% year to date to 443 million barrels.

Nevertheless, we maintain our 2020-21 crude oil forecast of US$60-65 per barrel for now with Opec and its partners looking at raising their production quota reduction of 2.1 million barrels this year, with the Joint Technical Committee of the Opec+ group recommending additional cuts of at least 600,000 barrels per day. We maintain “overweight” on the sector as order flow prospects remain bright at this stage with rising asset utilisation globally. — AmInvestment Bank, March 4

Posted by InvestorKING > 2020-03-05 18:51 | Report Abuse

https://money.usnews.com/investing/news/articles/2020-03-05/opec-seen-backing-big-oil-output-cut-but-awaits-russian-support

Posted by InvestorKING > 2020-03-05 18:52 | Report Abuse

Once OPEC and OPEC+ agreed with 1mil to 1.5mil additional cut, then oil price might jump up

Posted by EngCCCC > 2020-03-05 19:24 | Report Abuse

Good that not only me queue to buy. InvestorKING is with me in same boat.

Posted by InvestorKING > 2020-03-05 19:29 | Report Abuse

Suffering huge loss, sure must average down more and more, I strongly believe the value is not this price,it's really too much undervalued

Posted by SuperPanda > 2020-03-05 19:30 | Report Abuse

24 apr 2019
__________
InvestorKING Superpanda, who say armada will spike 30% in a day? I have been following Armada for soooooo long, never even see Armada will up 15% in a day, don't say 30% in a day
05/03/2020 6:18 PM

Posted by InvestorKING > 2020-03-05 20:26 | Report Abuse

https://m.seattlepi.com/news/article/OPEC-looks-to-cut-production-as-virus-outbreak-15106722.php

Posted by Mabel > 2020-03-06 00:34 | Report Abuse

Waiting patiently at 60...

Meow

Posted by TAK1 > 2020-03-06 01:07 | Report Abuse

1.5b second quater.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/03/05/investing/opec-oil-prices-coronavirus/index.html

Posted by apanama > 2020-03-06 01:18 | Report Abuse

For those who buy at 17sen Better Sell ..it will back to 17sen..so earn 17sen..then wait until 17sen and lower and buy back..

Posted by mf > 2020-03-06 01:23 | Report Abuse

Coronavirus live updates: Foxconn revenue tanks, Southwest Airlines slashes forecast

Posted by SuperPanda > 2020-03-06 06:04 | Report Abuse

dow dropped 969 pts
_____________
SuperPanda dow might take another hit 1k pts drop anytime, us death increasing and market should be very cautious now
05/03/2020 11:59 AM

Posted by InvestorKING > 2020-03-06 06:36 | Report Abuse

Superpanda, Wednesday up 1300 points, and now only drop 900++ points, means stipl got up 300 points

Posted by InvestorKING > 2020-03-06 07:11 | Report Abuse

Today open and it's allies sure will agree to further cut 1.5mil barrels

Posted by SuperPanda > 2020-03-06 07:42 | Report Abuse

oil will break below 50 soon, then can get .28

Posted by InvestorKING > 2020-03-06 08:18 | Report Abuse

Unlikely oil will break below 50, because OPEC already agreed to cut 1.5mil barrels per day, and now waiting for OPEC+

Posted by InvestorKING > 2020-03-06 08:19 | Report Abuse

Superpanda, now djia future rebounds and up, so?

https://dowfutures.org/

Posted by freddiehero > 2020-03-06 08:28 | Report Abuse

brazil start crash liao.. standby to buy low low huhu..

Posted by InvestorKING > 2020-03-06 08:28 | Report Abuse

This Armada at so cheap now and undervalued so much, not even have a sign of rebound

Posted by InvestorKING > 2020-03-06 09:11 | Report Abuse

Today is number 10 day, down day again without any rebound at all

Posted by AlvinTSK > 2020-03-06 09:28 | Report Abuse

Everyday for the last week, expect a rebound or correction ... Not bored meh !! You already know EPF jump ship, so who is your next substantial investor help you to carry this sinking ship??

Posted by AlvinTSK > 2020-03-06 09:28 | Report Abuse

Short it until .280

Posted by SuperPanda > 2020-03-06 09:46 | Report Abuse

.28 will be coming soon, might even lower if oil break 50 support

Posted by SuperPanda > 2020-03-06 09:47 | Report Abuse

o&g counter all bearish, can buy for long term until virus settle and demand increase

Posted by InvestorKING > 2020-03-06 09:55 | Report Abuse

This counter totally no rebound at all

Posted by InvestorKING > 2020-03-06 10:03 | Report Abuse

Buy rate only 5%??

Posted by InvestorKING > 2020-03-06 10:03 | Report Abuse

Drop further

Posted by InvestorKING > 2020-03-06 10:19 | Report Abuse

Armada 3% buying rate only

Posted by InvestorKING > 2020-03-06 10:21 | Report Abuse

10th day continue dropping, with no rebound at all, very good Armada

Posted by john1102 > 2020-03-06 10:31 | Report Abuse

we all hope it rebound

Posted by shpg22 > 2020-03-06 10:35 | Report Abuse

Its GAME OVER. Death trap for punter

Posted by InvestorKING > 2020-03-06 10:37 | Report Abuse

Totally no rebound at alllllllll

Posted by InvestorKING > 2020-03-06 10:43 | Report Abuse

Buy rate ridiculous low 8%

Posted by Johnchew5 > 2020-03-06 10:44 | Report Abuse

Agreed with apanama ... Foreign Fund is out flow..

Posted by lee_m2020 > 2020-03-06 10:46 | Report Abuse

Yea that is what happening when other retailers quit the game leaving 2-3 big sharks playing goreng2 alone...

Posted by SuperPanda > 2020-03-06 11:01 | Report Abuse

oil 50 support broken
_________________
Stock: [ARMADA]: BUMI ARMADA BHD
Mar 6, 2020 7:42 AM | Report Abuse

oil will break below 50 soon, then can get .28

Posted by stingray_ea > 2020-03-06 11:06 | Report Abuse

oppppp

Posted by RJ87 mother is a filthy whore > 2020-03-06 11:10 | Report Abuse

down down, down the drain

Posted by RJ87 father is a he-bitch > 2020-03-06 11:14 | Report Abuse

hoot lagi at 29cents, now only 285cents
RJ87 If I say I manage to hoot at today's low at 29sen...u believe mer?
02/03/2020 4:26 PM

Posted by RJ87 father is a he-bitch > 2020-03-06 11:16 | Report Abuse

its only rj87 lampar hoot senget

Posted by armadatuah2017 > 2020-03-06 11:35 | Report Abuse

how to rebound while the global market remains gloomy with bad oil prospect and outbreak of this uncontrollable epidemica

Posted by acinanatucer > 2020-03-06 11:43 | Report Abuse

good news for today !!
https://klse.i3investor.com/blogs/ongmy/2020-03-06-story-h1484742980-Offshore_projects_to_gain_traction_over_medium_to_longer_term.jsp

Posted by InvestorKING > 2020-03-06 11:43 | Report Abuse

Whatever good news also impossible for Armada to rebound

Posted by InvestorKING > 2020-03-06 11:44 | Report Abuse

EPF kept throwing everyday with their colluded partners shorties

Posted by apanama > 2020-03-06 11:55 | Report Abuse

aiya sudah pecah 30sen ka..mau 17sen ka..:)

Posted by InvestorKING > 2020-03-06 11:56 | Report Abuse

Velesto the price is now even better than Armada

Posted by RJ87 father is a he-bitch > 2020-03-06 12:01 | Report Abuse

why is conman rj87? no more promoting this counter? so many investors die because of your fake ta fa qr pre-dick-tion,

Posted by RJ87 father is a he-bitch > 2020-03-06 12:07 | Report Abuse

Beware of conman from armada gayboy rj87, itch,mikekim,investorking,superpanda,kim0914!

Posted by 死鸡撑饭盖 conman rj87 > Mar 3, 2020 1:40 PM | Report Abuse

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

stay safe, beware of these scammer !

Posted by InvestorKING > 2020-03-06 12:19 | Report Abuse

This Armada operator, shorties and EPF are devil

Posted by RJ87 father is a he-bitch > 2020-03-06 12:50 | Report Abuse

you aint see nothing yet