Yes, Armada closed at 0.39 +0.02 +5.4 % With the oil price continue it's super bullish, i think tommorrow Armada at least will break above 0.40 to closed at 0.47
Bumi Armada Berhad (“Bumi Armada” or the “Company”) refers to its previous announcement on 24 April 2019 with respect to the above matter.
Bumi Armada wishes to announce that the Facility Agreement has been amended on 23 February 2021 to extend the final maturity date for Tranche 1 (USD260 million or approximately RM1,051 million*) of the USD660 million (approximately RM2,668 million*) Term Loan Facilities to 23 November 2022.
The final maturity date of 23 May 2024 for Tranche 2 (USD400 million or approximately RM1,617 million*) remains unchanged.
The above revision takes into consideration the impact of the COVID-19 pandemic and the resulting significant slowdown in global business activities, which have in turn impacted the progress of Bumi Armada’s monetisation initiatives.
Notwithstanding the above and barring unforeseen circumstances, Bumi Armada expects continued stable operations for its FPO business. The OMS segment is expected to remain soft with relatively subdued industry activity. Bumi Armada has COVID-19 mitigation measures in place and will continuously monitor the situation to ensure the ongoing safety of its employees and assets.
So reading between the lines they did not make enough profit to repay the 260 million usd on time and had to extend the time frame for another 12 months, the interest on that loan must be criplinging.
Plus they described the business in there own press release as 'remaining 'soft with relatively subdued industry activity'. Kenanga have now also revised the share price from 0.385 to 0.21 with a sell recommendation....sure going to limit up anytime soon !
apple168 = toxic trash apple168 say buy topglove topglove drop say sell genting genting up say airasia drop airasia up do what against apple168 this trash sure win
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....
Tesla
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Posted by Tesla > 2021-02-22 11:05 | Report Abuse
armada court case still ongoing?