Posted by bullmarket1628 > 2021-05-25 07:10 |

Post removed.Why?

Posted by gogogolee > 2021-05-25 08:57 | Report Abuse

oil price spike up but armada no move???

Posted by LeslieGoh > 2021-05-25 09:01 | Report Abuse

Buy Armada will shoot very high soon....

Posted by nikicheong > 2021-05-25 09:22 | Report Abuse

3 hours and 15 mins to go. I'm feeling good! :)

Net profit might be over RM150mil, but on a core basis, should be between RM120mil to RM140mil. Disappointing if core net profit below RM100mil. Impairment is unknown, hopefully none.

Everyone, share your expectations as well!

Posted by zonefinder > 2021-05-25 09:38 | Report Abuse

Expecting 150m as well with no neg news so far. If debt level improves further, the stars will be well aligned. Attending virtual AGM in afternoon.

Posted by LimauAisKurangManis > 2021-05-25 11:29 | Report Abuse

Keep us updated zone finder, thanks!

Posted by OrlandoOilSemiconT > 2021-05-25 11:29 | Report Abuse

HIBISCUS did well

Posted by strattegist > 2021-05-25 11:54 | Report Abuse

green

Posted by strattegist > 2021-05-25 11:55 | Report Abuse

hijau

Posted by nikicheong > 2021-05-25 12:35 | Report Abuse

RM162mil net profit. Now that’s something! Well done Bumi Armada!

Posted by nikicheong > 2021-05-25 12:41 | Report Abuse

Rm6.8mil from asset disposal, Rm5.7mil from reversal of impairment, and RM1.7mil from gain in FX. Therefore total one off gains is Rm14.2mil. Meaning which, core net profit is around Rm148mil. Finance cost has lowered further. Exceptional!

Posted by Jjkcl > 2021-05-25 12:50 | Report Abuse

wow results are very very good

Posted by zonefinder > 2021-05-25 12:50 | Report Abuse

Outstanding guys! Huat ah!

Posted by HuatlaiOnglai > 2021-05-25 12:59 | Report Abuse

The results beat market expectations and this call for TP rerating. TP of RM0.80 will be a good start.

Posted by nikicheong > 2021-05-25 13:01 | Report Abuse

Plus there are new projects coming on stream next year (FPSO) and the year after (FSRU). So the company is growing the top line, as well as reducing costs such as finance costs (as they repay large chunks of borrowings) and depreciation charges (as the OMS vessels are sold off).

Posted by nikicheong > 2021-05-25 13:07 | Report Abuse

Also, Kraken was offline for 3 days due to unforeseen circumstances. This reduced profits by around RM10mil.

Btw, this is Bumi Armada BEST EVER quarter results!

Posted by izoklse > 2021-05-25 13:10 | Report Abuse

hibiscus doing very well also cannot go up woo. bursa casino is very weird.

Posted by Faizal83 > 2021-05-25 13:11 | Report Abuse

I masih Perangkap kat 0.50..bila ini nak sampai

Posted by itch > 2021-05-25 13:14 | Report Abuse

Superb result!

Brace for 50c !

Posted by strattegist > 2021-05-25 13:16 | Report Abuse

cantik hey

Posted by strattegist > 2021-05-25 13:16 | Report Abuse

lagi mau naik hey

Posted by strattegist > 2021-05-25 13:17 | Report Abuse

kasik up up hey

Posted by strattegist > 2021-05-25 13:17 | Report Abuse

kfc kambing hey

Posted by serpent100 > 2021-05-25 13:23 | Report Abuse

Anybody can share report link.... Tqtq

Posted by Hockster > 2021-05-25 13:36 | Report Abuse

@serpent100

https://www.bursamalaysia.com/bm/market_information/announcements/company_announcement/announcement_details?ann_id=3159820

Posted by VincentTang > 2021-05-25 13:43 | Report Abuse

There is other operating income and no impairment this quarter compare to other quarters which causing this quarter result figure is high. Otherwise this quarter result is not good as you think.

Posted by HuatlaiOnglai > 2021-05-25 13:44 | Report Abuse

Total borrowing in Q121 stands at RM8.14B vs Q420 RM8.30B. An improvement of RM0.16B reduction of total borrowing Q2Q. This will further pair down the gearing which most investors is looking at. Solid result lets see how the market responds.

Posted by nikicheong > 2021-05-25 13:54 | Report Abuse

@VincentTang, other operating income exists normally (provision of engineering services to subsidiaries/joint ventures etc). The asset disposal contributed only a small amount to the other operating income (RM6.8mil). Meanwhile, impairment is NOT normal. That it has ended is a good thing, not a bad thing. There should be no further impairments as a normal course of action here on out.

I already stripped out the one-off exceptional items and got to a net profit of RM148mil. Whichever way you look at it, RM148mil is a superb result!

Posted by Jojobaa > 2021-05-25 14:10 | Report Abuse

Other income from management fee (if you treat it as once off) can be similarly offset by a decline in JV and associate earnings which was in the current quarter increased due to vessel upgrading costs pursuant to the 15 year Armada D1 extension, so let's treat it as that both effects equal each other. Furthermore there was a loss of approximately 6-8 million in earnings due to 3 days of maintenance for Kraken.

I am just going to point out, that consensus earnings is about RM450 million. However you want to look at it, with this quarterly results, the street is severely underestimating their forecasts and by tomorrow i do expect a series of upgrades, across the board.

Posted by nikicheong > 2021-05-25 14:10 | Report Abuse

Debt analysis: https://i.ibb.co/936Gk9X/image.png

Take note that the reduction in the rate of paring down the debt is mainly due to higher USDMYR rates (March 31 2021 RM4.15/USD vs Dec 31 2020 of RM4.02/USD).

Posted by HuatlaiOnglai > 2021-05-25 14:12 | Report Abuse

BA Net Profit margin is 28.36%. Not many large businesses like BA are able to generate such a strong margin.

Posted by nikicheong > 2021-05-25 14:18 | Report Abuse

@Jojobaa, that's a good point. The profit from JV is slightly lower as well, at only RM12mil for Q1 2021 for the FPSO segment. The more "normal" profit would be around RM30mil to RM50mil per quarter (no including the new FPSO/FSRU projects).

However, where did you find that the JV profit was lower due to vessel upgrading cost for the Armada D1 (i.e. Armada Sterling I)? I don't see this information in the quarterly report. As far as I'm aware, this was already expensed off last year.

Posted by Jojobaa > 2021-05-25 14:26 | Report Abuse

This was in the analyst reports. It mentioned that there will be various quarters in which cost will be expensed for certain items for vessel enhancement in view of a long term extension. I would say 25-30 mil a quarter minimum should be the norm for the JV earnings share.

Posted by Miracles > 2021-05-25 14:34 | Report Abuse

PE only 5 ~

Posted by Miracles > 2021-05-25 14:34 | Report Abuse

Lets go to the moon

Posted by gogogolee > 2021-05-25 14:38 | Report Abuse

gogogo...

Posted by gogogolee > 2021-05-25 14:43 | Report Abuse

but seller too many..won limit up

Posted by Miracles > 2021-05-25 14:45 | Report Abuse

Climb slow and steadily , dont limit up straight lah~

Posted by bullmarket1628 > 2021-05-25 14:51 |

Post removed.Why?

Posted by LossAversion > 2021-05-25 14:51 | Report Abuse

This afternoon agm... more good news????

Posted by wdz288 > 2021-05-25 14:52 | Report Abuse

@Jojobaa Could you share the link of the analyst reports? Thanks!

Posted by bullmarket1628 > 2021-05-25 14:53 |

Post removed.Why?

Posted by bullmarket1628 > 2021-05-25 14:55 | Report Abuse

Like that today must be got a superb good news going to be announced already liao lah !

Posted by bullmarket1628 > 2021-05-25 14:56 | Report Abuse

Today will announced the superb outstanding QR ???

Posted by Jojobaa > 2021-05-25 14:56 | Report Abuse

U can wait till tomorrow for all the analyst reports. Consensus is RM400 million + earnings. If doing a RM150 million quarterly or an implied annualized earnings of RM600 million does not warrant an upgrade, then I honestly don't know what does.

Posted by nikicheong > 2021-05-25 15:02 | Report Abuse

And that is before factoring in around RM100mil per year for the new ONGC FPSO from next year onwards, and around another RM20mil per year for the FSRU from 2023 onwards. And those are conservative estimates. Which means there is A LOT of upside here!!

Posted by strattegist > 2021-05-25 15:09 | Report Abuse

Thank you Armada... barrels of kfc

Posted by strattegist > 2021-05-25 15:09 | Report Abuse

nyum nyum

Posted by strattegist > 2021-05-25 15:09 |

Post removed.Why?

Posted by strattegist > 2021-05-25 15:59 | Report Abuse

hepi hepi hey