Today price dropped is no connection with QR. Main reason is Brent oil price dropped again. Same as others oil counter. Next level is if Oil price hit Usd 40.
Too busy buying and selling...Switching from FA to TA trading in high volatility environment, good time to whack warrants....
Means no time to waste talking FA here...No FA to talk also especially nothing is predictable for 2H20. And nothing to talk about TA...it's just market frenzy...
BUMI Armada Bhd, the service provider to oil and gas companies, has provided for no less than RM5.8bil as impairments for its assets since the financial year 2016. The bulk of the provisioning was taken up at the group level.
If anybody had thought that the company, which is owned by T. Ananda Krishnan, was done with provisioning for its assets, they were proven wrong. In the latest quarter results, the company sunk into the red due to the setting aside RM314mil for impairments for its offshore marine services (OMS) segment.
Bumi Armada has 35 vessels in its OMS segment where the utilisation rate is 56%. Out of the 35 vessels, three are subsea construction (SC) vessels while the rest are offshore service vessels (OSVs).
According to analysts, the provisions are mainly for the SC vessels that are lying idle without any charter in hand since early last year. The SC vessels are in the Caspian Sea where drilling activities have reduced significantly. Fortunately for Bumi Armada, its floating production, storage and offloading (FPSO) assets are performing well. Bumi Armada wholly owns four FPSOs and co-owns three others.
It has one FPSO asset that is lying idle and up for sale. Fortunately, the company has completely provided for the FPSO asset that was due to be mobilised to an oil field offshore Australia. But there were disagreements and the FPSO Claire has returned to the custody of Bumi Armada. Hence, if any sale happens, it is a pure writeback for Bumi Armada.
The company is looking to dispose of the remaining OSVs because competition is keen and margins are narrow in that particular segment of the oil and gas industry. Even Petronas has urged the local players to consolidate but its calls have largely fallen on deaf ears.
The concern is Bumi Armada would have to provide more impairments as more disposals of OSVs take place.
Towards this end, some analysts have downgraded the stock to as low as 10 sen as they do not see any catalyst for earnings growth and are uncertain if the company has to make more provisions.
Am slashed the TP from RM0.52 to RM0.10 within two months time.... Lol... so is it possible will lift the TP RM0.52 again for another two months ???? Those Investment banks' write up really rubbish
nicky Am slashed the TP from RM0.52 to RM0.10 within two months time.... Lol... so is it possible will lift the TP RM0.52 again for another two months ???? Those Investment banks' write up really rubbish
@nicky.totally agree with you.ibs from Ambank really joker. few mths ago they gave tp to serba RM 1.after serba won a project at middle east two weeks ago they change serba tp to RM 2.see how fast their u turn.hahaha
@nicky Am slashed the TP from RM0.52 to RM0.10 within two months time.... Lol... so is it possible will lift the TP RM0.52 again for another two months ???? Those Investment banks' write up really rubbish 31/05/2020 6:33 AM
Touche nicky...
Always take one Big Spoon of salts when comes to IB valuation. They have interest and also part of the playing field just like you and me. With TP RM0.10 cents, it means they want to starts collecting at our expenses. Once they have collected enough, they will revised the TP again to RM 0.52 so that they can sell to new buyers..
Here we rely more on mikekim valuation...
Based on last year track record, once you are on board, always think about TP RM0.60 or even higher to give you the motivation to HOLD. Armada is a pretty strong Battleship. It has ride any turbulence waves before and has survived.
However, sell when it breaches RM0.55 since the Armada operator will not allow the price to reach RM0.60...
5) Norges Bank Investment Management 112,511,508 1.91%
6) Employees Provident Fund 106,791,445 1.82%
7) Dimensional Fund Advisors LP 79,740,293 1.36%
8) Wijaya Sinar Sdn. Bhd. 78,759,550 1.34%
9) Yu Wei Tan 62,029,600 1.05%
10) Urusharta Jamaah Sdn. Bhd. 51,962,800 0.88
I believed this is latest but one thing I dont understand, as far as my knowledge EPF already ceased all it shares. EPF still listed as one of the shareholders according to the data.
investortrader88, Thanks. The shareholdings reported are sporadic with dates. Some are as of March 2019 and others as of April 6 2020. I too try to keep track but none are really up to date. Mine is from Shareinvestor
macgyver11, once holding are below 5%, company needn't report to Bursa.
KRISHNAN TATPARANANDAM ANANDA 34.834% Permodalan Nasional Bhd. 13.004% Karisma Mesra Sdn. Bhd. 4.018% The Vanguard Group, Inc. 2.092% Norges Bank Investment Management 1.913% Employees Provident Fund 1.816% Wijaya Sinar Sdn. Bhd. 1.339% Dimensional Fund Advisors LP 1.324% APG Asset Management NV 1.179% TAN YU WEI 1.055% Urusharta Jamaah Sdn. Bhd. 0.884% Wijaya Baiduri Sdn. Bhd. 0.765% Hong Leong Asset Management Bhd. 0.622% CHRISTENSON GARY NEAL 0.594% Maybank Asset Management Sdn. Bhd. 0.504% LICHOTA ROBERT 0.355% OOI CHIN HOCK /BUMI/ 0.349% ABN AMRO Investment Solutions SA 0.341% SAW CHAI SOON 0.340% TAN YU YEH /BUMI/ 0.332%
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nicky
3,351 posts
Posted by nicky > 2020-05-29 18:18 | Report Abuse
Armada won't get direct impact of oil price...as long as no cancellation of contracts then it will be fine.