Armada operations has turned for the better after the new CEO came onboard. He seems to have kicked some arses within the team instead of lethargic management by his predecessor. Armada has certainly turned the corner after FPSO Kraken's operations stablisied and contribute to the bottom line. Its operation cash flow is positive and able to meet the short term laibility requirment , so its debt is not a major concern. Trust with next 1 or 2 quarters good results and no or little impairment , we can expect the stock price would be flying.
The global floating production storage and offloading FPSO market is competitive and segmented. Transparency Market Research Market (TMR) report states that there are a few major players in the industry who are relentlessly developing new and innovative designs to penetrate the global market during the forecast period. These prominent players are focused on introducing new strategies like collaborations and partnerships to provide new in the global market.
Some of the prominent players operating in the global FPSO vessel market include MODEC, Inc., BW Offshore, BUMI ARMADA BERHAD, Blue Water Energy Services, and SBM Offshore N.V.
Growing demand for alternative sources of oil due to continual depletion of existing oil reserves drives the global FPSO market. The global FPSO market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO market is projected to reach up to US$8.30 bn by the end of 2026.
Armada has around 25 Offshore vessels and a couple of pipe lay / construction vessel. The brand new cost of each OSV is around USD 15 mil. Take 100 mil for 2 construction vsls. That will make around USD 700mil of MYR 2.8 Bn as new. Armad has in the last last couple of years declared impairment in excess on MYR 2 Bn. So these assets should be sitting in their books at close to scrap or zero value. I can't see how they can have any further impairments unless some kind of accounting gimmick / fraud is at play here
Wonder why oil price keep dropping? Its not a god sign for BA as most enduser will need to revise the contract should the price continue to drop. They have learned from 2015 price crash. hmmmmm
I'm not barking like you talk nonsense. If scared s lot then disposed go to other counter la...you sja boleh beli bnyk ke org lain tak ada duit ka. I'm also holding a lot but not like you barking up and down. Now saying good unexpectedly closing green...pee la. I'm confident with BA not like you...merepek.
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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....
tkl88
8,712 posts
Posted by tkl88 > 2020-09-03 07:32 | Report Abuse
Walaoeh, Dow Jones spike up 500 points,
Super bull is coming !
Dow Jones closed at=>
29,100.50 +454.84 (+1.59 %) !