Posted by MM78 > 2022-11-08 10:30 | Report Abuse

Stronger USD Vs RM is good for Armada, hence good for Q 3 result

Posted by MoneyMakers > 2022-11-08 11:46 | Report Abuse

Nice - sailing towards India 4 nxt fspo project

Keeps going higher & higher..just 1sen away from Sept high (44sen)

Posted by 1pingpong > 2022-11-08 15:17 | Report Abuse

top up more 0.430.. going higher and higher, tmrow flyyy

Posted by Robert Waters > 2022-11-08 17:36 | Report Abuse

Since it was already anounced, may be it is right time to sell the news ?
Been wrong before ...
_________________________________

High Commissioner Mr P. Kumaran participates in sail-away ceremony of Shapoorji Pallonji’s FPSO Armada Sterling V
November 7, 2022 Neel Achary Business 0

7th November 2022, India/Singapore: The High Commissioner of India in Singapore, His Excellency Mr P. Kumaran, participated in the sail-away ceremony of FPSO Armada Sterling V on November 6, 2022. The Floating Production Storage and Offloading vessel (FPSO) is ready to sail away and is expected to arrive at the project site on the east coast of India by the end of December 2022.
Over 150 people attended the sail-away ceremony, including representatives from the Indian High Commission in Singapore, ONGC’s PMC, Shapoorji Pallonji, Sembcorp, and Bumi Armada, as well as their guests.
This FPSO is the result of close collaboration between India’s engineering prowess and Singapore’s FPSO conversion capabilities. It features 13 modules and central piperacks, weighing over 20,000 tonnes, and is equipped with the world’s largest submerged turret production system.

H.E. Mr. P. Kumaran praised the size and specifications of the FPSO and congratulated the ONGC, Shapoorji Pallonji Oil and Gas, Bumi Armada and Sembcorp Marine teams. Commending this remarkable project, he said, “I am very happy to see the kind of collaboration that has been possible between India, Singapore, Indonesia and a number of other countries involved in this project in terms of supply chain linkage.” The High Commissioner appreciated the excellent safety record of the FPSO and its sail-away readiness, despite disruptions due to Covid – 19 and geopolitical challenges.
Mr. Ravi Shankar, CEO and Director of Shapoorji Pallonji Oil and Gas, emphasized the importance of the FPSO for India’s energy security and stated that this deep-water project has given ONGC and Shapoorji Pallonji confidence to pursue ultra deep-water projects in India and overseas.
The FPSO represents India’s commitment to sustainable energy development. It is Asia’s first FPSO with low NOX DLE burners, is equipped with radar-operated oil slick monitoring, and has advanced engineering features that limit its overall energy intensity.

Posted by Heungheungloveyou > 2022-11-09 11:18 | Report Abuse

sailang with your limited margin capital now, heading to 90c is not a dream

Posted by KimSua > 2022-11-10 10:51 | Report Abuse

Dollar index seems to have reach its peak at 114 and now hovering along 110 many weeks now. It it drops further expect oil price to go above 100. Oil barons are still bullish as supply continues to be (kept) tight.

Posted by MoneyMakers > 2022-11-10 11:22 | Report Abuse

Rocket delay this week - china lockdown again

“CNN - China's Guangzhou (manufacturing hub) has locked down a third district as authorities rush to stamp out widening Covid outbreak”

Posted by hng33 > 2022-11-10 16:46 | Report Abuse

bought back armanda at 42sen

Posted by hng33 > 2022-11-10 17:30 | Report Abuse

After careful calculate impact on kraken maintenance, upcoming Q3 should still able to record about EPS 3.6sen due to absent of one off impairment in Q2 and strengthen USD.

If armanda indeed record Eps 3.6sen, it imply profit growth both for Q to Q and Q o Q

Posted by 1pingpong > 2022-11-11 11:33 | Report Abuse

Oil is going uptrend for sure. But this Armada ah...Wat Are you doing?

Posted by 1pingpong > 2022-11-11 11:34 | Report Abuse

Never fail to disappoint!!!

Posted by Robert Waters > 2022-11-11 16:08 | Report Abuse

Friday is never a good day for Armada, as people want to reduce risk before weekend.
Also, final dismissal of the case against woodside happened yesterday.
All considered, not a bad performance in the circumstances.
0.43 is a good price for now.
Consider 23 million shares short that will have to be settled soon as margin kicks in.
It keeps us up too.
_______________________________________________________
KUALA LUMPUR (Nov 10): Bumi Armada Bhd has concluded its six-year legal dispute with former client Australia-based Woodside Energy Julimar Pty Ltd (WEJ), with the offshore production and support services provider failing to obtain any of the claims it sought.

The dispute relates to a terminated RM1.46 billion charter contract between Bumi Armada’s unit Armada Balnaves Pte Ltd (ABPL) and WEJ, which prompted ABPL to file a suit in 2016 at the Supreme Court of Western Australia to seek a declaration that WEJ’s termination of the contract was a repudiatory breach.

It also claimed US$283.51 million for damages in the suit. The damages that ABPL sought comprised payment that the unit claimed it would have been entitled to had the contract not been breached, and US$7.7 million for work done and materials supplied.

The matter was put to rest on Thursday (Nov 10) after the High Court of Australia dismissed ABPL’s bid to appeal a Court of Appeal of the Supreme Court’s (COA's) judgement, as well as ordered ABPL to pay WEJ’s legal costs.

“Today’s decision brings this matter to a conclusion,” Bumi Armada said in a filing on Thursday.

Previously, the Supreme Court decided in favour of WEJ in regard to ABPL’s suit, which led to ABPL filing an appeal at the COA against the decision. However, the COA decided in favour of WEJ in the application on June 24 this year, which then led to ABPL seeking special leave (permission) to appeal "part" of the appellate court's judgement. This application was the one dismissed on Thursday.

Shares in Bumi Armada finished down half a sen or 1.16% at 42.5 sen, giving the company a market capitalisation of RM2.49 billion.

Posted by MoneyMakers > 2022-11-12 12:24 | Report Abuse

Nice oil going strong - midweek abit oil scare (china/guangzhou lockdown) but strong rally after china announce loosen covid policy

Nxt week target blow past 44sen (Sept high) - if lucky can touch 46.5sen (Jun high)

Never doubt oil this yr-end (EU oil ban Dec 5)

Posted by ITreeinvestor > 2022-11-14 14:52 | Report Abuse

expected higher profit in coming quaters.............

Mr Targett responded to further queries from the shareholders as follows:-
(a) Foreign currency effect on the Company’s business - 85% of the Company’s revenue was denominated in USD. Generally, if the USD strengthens, BAB net profit would strengthen.

Posted by Robert Waters > 2022-11-14 18:01 | Report Abuse

More and more coverage about armada sterling v ...

.....
The Indian giant has made multiple awards for the Cluster-2 development of KG-DWN-98/2 including integrated subsea facilities, a floating production storage and offloading unit (FPSO), a central processing platform plus living quarters and a sizeable onshore terminal.

McDermott, along with Baker Hughes and India’s Larsen & Toubro, was awarded a $1.69 billion integrated subsea contract by ONGC in October 2018 for work on the KG-DWN-98/2 asset.

A separate contract for the project’s CPP plus living quarters facility was awarded to a joint venture of India’s Afcons with Malaysia’s Sapura Energy.

While most of the key facilities for the Cluster-2 project are said to be back on track after Covid-related delays, the CPP is understood to be several months behind schedule, due to Sapura’s financial woes.

Armada Sterling V, the FPSO for the KG-DWN-98/2 project built by Sembcorp Marine in Singapore, is preparing to sail away within weeks, Upstream reported on 4 November.

The floater is jointly owned by a pairing of Shapoorji Pallonji Oil & Gas (SP Oil & Gas) and Malaysia’s Bumi Armada. The Indian player holds a 70% stake in the FPSO, while Bumi has the remaining 30%.

Posted by yangkwang99 > 2022-11-17 10:43 | Report Abuse

CAUTION! MQ TRADING SIGNALS SELL!

Posted by soon9913 > 2022-11-17 13:56 | Report Abuse

see MISC profit !!!! this counter got potential to at least 0.5

Posted by chonghai > 2022-11-19 07:13 | Report Abuse

How much profit Armada derive from Kraken every quarter ?
How much profit would Armada be able to derive from Armada Sterling V every quarter once operational ?

Posted by nikicheong > 2022-11-21 09:59 | Report Abuse

Armada Sterling V has left the port!!! She is sailing to the Kakinada field as we speak.

Posted by zonefinder > 2022-11-22 10:08 | Report Abuse

Should be announcing Q3 anytime now

Posted by nikicheong > 2022-11-22 11:03 | Report Abuse

Results usually announced Friday afternoon. So I expect it latest by this coming Friday.

Posted by hng33 > 2022-11-23 10:33 | Report Abuse

soon

Posted by nikicheong > 2022-11-24 13:16 | Report Abuse

Solid set of results. Will comment further once I've gone through it.

Posted by nikicheong > 2022-11-24 13:28 | Report Abuse

It appears that there are the following one-off to consider. The Q3 results are actually much better once you factor these in.

1) Net allowance for impairment: RM4.5m
2) Reduction in residual vessels (fully owned): RM25.9m
3) Reduction in residual vessels (JV and associates): RM45.1m

Posted by nikicheong > 2022-11-24 13:34 | Report Abuse

Net Profit to Shareholders: RMRM149.7m

Adjustments:
Net allowance for impairment: +RM4.5m
Reduction in residual vessels (fully owned): +RM25.9m
Reduction in residual vessels (JV and associates): +RM45.1m
Unrealised FX Gain: -RM8.2m

Adjusted Core Net Profit: RM217.0m

Posted by kahfui1221 > 2022-11-24 14:01 | Report Abuse

Announcing Bumi Armada Bhd's third quarter financial performance, CEO Gary Christensen says the group will continue to pursue new projects amid the higher energy prices.

"It was pleasing that during the quarter we successfully conducted the planned process shutdowns of two of our vessels in a safe and efficient manner and restarted ahead of plan.

Posted by kahfui1221 > 2022-11-24 14:01 | Report Abuse

It said cash generation remained strong with net operating cash flow of RM512.2mil, which enabled it to repay almost US$74.8mil of debt during the quarter.

It added that the future firm orderbook as at end-September 2022 stood at RM13bil with additional optional extensions of up to RM9.9bil.

Year-to-date, Bumi Armada recorded a net profit of RM521.73mil, up from RM456.07mil in 3Q21 while revenue rose to RM1.8bil from RM1.65bil.

Posted by ITreeinvestor > 2022-11-24 14:25 | Report Abuse

Dun forget that no more Kraken & TGT shutdown for maintenance in next quarters.

Adjustments:
Net allowance for impairment: +RM4.5m
Reduction in residual vessels (fully owned): +RM25.9m
Reduction in residual vessels (JV and associates): +RM45.1m
Unrealised FX Gain: -RM8.2m

Adjusted Core Net Profit: RM217.0m

Posted by zonefinder > 2022-11-24 14:26 | Report Abuse

Lets see how the market will react towards this set of solid results. Of importance is the continual reduction in net borrowings and future earning potential.

Posted by hng33 > 2022-11-24 14:56 | Report Abuse

sold armanda at 43.5sen, took profit first

Posted by hng33 > 2022-11-24 15:05 | Report Abuse

sold off balance armanda at 44sen

Posted by nikicheong > 2022-11-24 18:00 | Report Abuse

Guys, please share the PDFs of research reports as you have them.

Posted by ITreeinvestor > 2022-11-25 10:20 | Report Abuse

Y23Q1 another additional profit coming in.

30%-owned Armada Sterling V (the remaining 70% owned by Oil and Natural Gas Corporation) has sailed away in early November this year and is expected to arrive in the east coast of Kakinada, offshore India by the end of 2022. This paves the path for maiden earnings contributions from the vessel from 1QFY23 onwards.

Posted by nikicheong > 2022-11-25 13:24 | Report Abuse

Anybody got the updates from UOB, RHB etc?

Posted by nikicheong > 2022-11-25 14:05 | Report Abuse

CIMB: https://rfs.cgs-cimb.com/api/download?file=3cd671d1-499e-403c-94d2-9d385eec5d0e

Posted by OrlandoOilSemiconIoT > 2022-11-26 08:24 | Report Abuse

Reduction in residual vessels (fully owned): RM25.9m


Reduction in residual vessels (JV and associates): RM45.1m

Where do these come from?

After so many rounds...

Anymore in the closet?



Making people uneasy... reasons for low PE

Posted by OrlandoOilSemiconIoT > 2022-11-26 08:34 | Report Abuse

Tot market conditions have since improved a lot?

High inflation not pushing up cost of new vessels?

Posted by Robert Waters > 2022-11-28 21:08 | Report Abuse

From RHB

https://research.rhbtradesmart.com/view-file/hash/9176018973516544637f9b1f23d9f?NO_CACHE=fbdbc7150cfe2ecbc71c62ed0e9c7182

25 November 2022 Energy & Petrochemicals | Offshore & Marine
Bumi Armada (BAB MK) Another Solid Quarter; Keep BUY
Buy (Maintained)
Target Price (Return): MYR0.61 (+39%)
Price (Market Cap): MYR0.44 (USD579m) ESG score: 2.90 (out of 4)
Avg Daily Turnover (MYR/USD) 4.81m/1.05m
Analyst Sean Lim, CFA +603 9280 8867 sean.lim@rhbgroup.com
Share Performance (%)

Keep BUY, with new SOP-based MYR0.61 TP from MYR0.59, 39% upside. Bumi Armada’s 9M22 results surpassed our expectations, with core profit surging 16% YoY on better Kraken availability, lower depreciation and finance costs. The group is still actively bidding for new
projects while Armada Sterling V has sailed away from the yard. BAB remains our sector Top Pick for its undemanding valuation (3.5x FY23F P/E) and strengthening balance sheet, led by stable FPSO operations and continuous asset monetisation.

Posted by success2628 > 2022-11-30 12:52 | Report Abuse

Follow hng33 to sold armanda at 45.5sen, also took profit first…

Posted by success2628 > 2022-11-30 12:53 | Report Abuse

Will follow hng33 to buy back Armada shares later…

Posted by zonefinder > 2022-12-01 09:39 | Report Abuse

Counter is gathering strength...

Posted by MoneyMakers > 2022-12-01 11:07 | Report Abuse

Ding3 46.5sen (Jun high) unlocked

Nxt target 50sen..never doubt Armada/oil this yr end

Posted by zonefinder > 2022-12-01 15:23 | Report Abuse

Might break 50sen today...

Posted by nikicheong > 2022-12-01 15:53 | Report Abuse

Wonder if the movement today is:

1) Speculative play - trading driven
2) Fund accumulation - value driven
3) Insider play - inside information driven

Posted by zonefinder > 2022-12-01 16:15 | Report Abuse

Its fundamentals point towards it being grossly undervalued.

Posted by MM78 > 2022-12-01 16:52 | Report Abuse

Time for market to realize Armada is a steal at such low PE with strong cash flow cutting down its debt so swiftly under its new leadership?

Posted by MM78 > 2022-12-01 16:56 | Report Abuse

Any risk of Ananda may take it private one day if the big sharks continue to press it down to accumulate for a long time ?

Posted by zonefinder > 2022-12-01 17:05 | Report Abuse

Waiting for the TotalENergies FPSO catalyst to bring this over 60sen

Posted by TeamRocket > 2022-12-01 20:24 | Report Abuse

miss the boat, nvm, wait for nxt round at 0.35, selling at 0.55

Posted by Macgyver11 > 2022-12-02 11:28 | Report Abuse

Boleh dapat 0.60c kah next week?