Posted by MrKhan > 2023-02-28 09:38 | Report Abuse

What’s taking them so long to scrap Armada Claire..thought this was supposed to be done by end of last year?

Posted by nikicheong > 2023-02-28 10:27 | Report Abuse

I think the reason is there has been an uptick of interest from buyers, so they can sell instead of scrap. I expect an update within 3 months.

Posted by nikicheong > 2023-02-28 10:28 | Report Abuse

No there is no immediate risk of rights issue. In fact, even if there is one more large scale FPSO fully owned by Buni Armada, I expect no issue to finance.

Posted by MrKhan > 2023-02-28 13:39 | Report Abuse

I agree with Niki..with the current level of gearing, they should not have any issue financing a large scale FPSO

Posted by 3lephAnt > 2023-02-28 16:30 | Report Abuse

A lot changed hands at 0.585

Posted by Bon888 > 2023-02-28 20:38 | Report Abuse

I feel build-own-lease business model the risk to the company is too high. Just like Armada Claire after built the client can just cancel contract anytime without any penalty. Now idle there burning maintenance cost.

Maybe a JV model with the client is a better option. Both own parties the risk and enjoy the profits sharing.

Posted by Bon888 > 2023-02-28 21:17 | Report Abuse

Armada financial performance is far more better than Yinson.

Armada generated 1.3 billion cash from operation but Yinson negative cash flow.

Armada profit and revenue is far more impressive than Yinson.

Yinson`s debt 10 billion , Armada just 5 billion.

I don't know why Yinson valuated at PE 17x while Armada is less than PE 5x.

Posted by nikicheong > 2023-02-28 22:35 | Report Abuse

Bon888, by 2025 Yinson is gonna be a powerhouse generating RM1bil++ of net profits per annum, and things will only get better from then on. They have long-term visibility on all their contracts.

Heck, they just won the Agogo FPSO with aggregate value of RM20.3bil. Just ONE of their project exceeds Bumi Armada's ENTIRE order backlog. Try to understand that.

Yinson is already on the next level. The higher P/E for Yinson simply implies that expectations of future profits are elevated (which is wholly warranted), while on the other hand, the lower P/E for Bumi Armada simply implies that expectations of future profits are muted (again, wholly warranted).

Bumi Armada is a sunset company if it cannot secure any new contracts. In this tight FPSO market with demand surpassing supply, it is tough to fathom how Bumi Armada still has nothing to show. Time is ticking, every day I check the news to see if Bumi Armada has secured a new contract.

For now, Bumi Armada is almost fairly valued, in the absence of any new contract wins.

Posted by Bon888 > 2023-02-28 22:46 | Report Abuse

Yinson expending too fast. If one of the key project run into problem, the company will be in big problem.

Cannot say Armada is a sunset company. Armada have contracts enough to generating cash for many years. Armada also actively bidding for new opportunities but now she is more selective and more careful on capex.

Anyway new contract award is already in the pipeline. Let's see how market react to it.

Posted by Gabriel Khoo > 2023-02-28 22:54 | Report Abuse

Armada has succesfully transformed. They not only selective in their projects. You have to taking care of the prospect of ESG and boom in EV. Growing to fast in FPSO is not a good thing. Oil demand in developed countries is driving the oil price over the last decades. Price is sensitive to demand. It will world another way round. Carry too many fpso projects may not neccessary is a good thing.

Posted by ID007 > 2023-03-01 10:25 | Report Abuse

gogo armada!

Posted by zonefinder > 2023-03-01 10:57 | Report Abuse

Good inputs esp from our BA guru Niki. As he mentioned, what is needed now is for BA to get project wins. Once this happens, it will be a catalyst for a stock re-rate. Right now for those who are value investors, just keep accumulating on any correction. Expect price to hover between 50 to 65 for now.

Posted by ageetkumar > 2023-03-01 11:37 | Report Abuse

Commenting on Armada Claire termination: The termination clause in the contract was very much in favour of the client, which BA management accepted to drive growth in early years. I am hoping they won't make the same mistake again.

Posted by Bon888 > 2023-03-01 17:21 | Report Abuse

Today BA got power!

Posted by RISK8888 > 2023-03-01 17:46 | Report Abuse

Wa so good. Operator bagi angpow

Posted by Fieldbus > 2023-03-01 19:11 | Report Abuse

Need to hit and stay above 0.63, the next target will be 0.76 and can be achieved if it can secure a new good job if not by next QTR resuls.

Posted by Russel > 2023-03-02 12:03 | Report Abuse

damn....miss the boat!

Posted by Suriyan > 2023-03-02 12:41 | Report Abuse

Mmm I sold mine at 64. Now going up

Posted by nikicheong > 2023-03-02 13:18 | Report Abuse

Everytime there's spikes like this, my thought process always goes to if "good news" is imminent. I would expect that there would be a spike like this in advance of the "good news", since insiders would be buying.

The "good news" here is either one of:
1) Award of Cameia FPSO contract
2) First oil for Armada Sterling V
3) Sale of Armada Claire FPSO

Posted by 3lephAnt > 2023-03-02 13:24 | Report Abuse

Last month when it hit 0.63 momentarily, it ended the day at 0.61 before dropping back to 0.58 and rebounded from 0.54.

Posted by RISK8888 > 2023-03-02 13:41 | Report Abuse

Operator finally let go?

Posted by Bon888 > 2023-03-02 13:57 | Report Abuse

Niki, I have a good feeling on 1) Award of Cameia FPSO contract.
The is a game changer for Armada`s outlook.

Posted by RISK8888 > 2023-03-02 14:28 | Report Abuse

Not mention at all in their QR result. I think none of the 3 is coming.

Posted by OrlandoOilSemiconIoT > 2023-03-02 14:54 | Report Abuse

Armada still so low!!!

Fellow F4BGM.. MI has gone through the roof

Posted by zen_2k > 2023-03-02 15:53 | Report Abuse

so strong rise today zzz

Posted by zonefinder > 2023-03-02 15:57 | Report Abuse

Strong in last 2 days...

Posted by nikicheong > 2023-03-02 15:59 | Report Abuse

Happy to be proven wrong but the price movement seems very "unnatural", I'm gonna double down and say "good news" is imminent (though it make take days/weeks to materialise as insiders can sometimes possess this information far in advance from the public).

Posted by TCH1186 > 2023-03-02 16:21 | Report Abuse

in armada we trust

Posted by zonefinder > 2023-03-02 16:26 | Report Abuse

Does look like something in the pipeline. No need to get all excited as value investors especially for those of us who has been waiting patiently for last 5 years...

Posted by Ninja _07 > 2023-03-02 16:30 | Report Abuse

Something is brewing... But may come down fast also

Posted by Bon888 > 2023-03-02 16:59 | Report Abuse

High volume, close high. Very good sign for short term guys.

Posted by Robert Waters > 2023-03-02 17:20 | Report Abuse

My bet is that Armada Claire will be sold. This would be excellent news, as the facility is there. No need for new financing. And instead of liability, we may have cash.
Total Camaia will take some time. Final committment will be proceded by negotiations and intention letters. And Armada insiders would not be confident until it happens to affect price that much. They know that sale is imminent if they have an offer and consider conditions.

Posted by serpent100 > 2023-03-02 17:45 | Report Abuse

After 5 years plus I’m waiting

Posted by Bon888 > 2023-03-02 20:13 | Report Abuse

Look at Yinson agogo FPSO timeline.

Yinson emerged as the frontrunner for Agogo FPSO in September 2022.

Yinson enter into agreement phase for Agogo FPSO in Dec, 2022.

Yinson inked the agreement 2 days ago in February, 2023.

Armada enter into Camaie FPSO frontrunner in Sept, 2022. So is about the time for agreement preparation. Insiders may already involved in agreement negotiations.

Posted by zonefinder > 2023-03-02 21:36 | Report Abuse

Let's see if this will indeed play out soon. Price action is strong.

Posted by Bon888 > 2023-03-03 09:22 | Report Abuse

Rasa rasa boleh pecah 0.70. Mantap guys!

Posted by alenac > 2023-03-03 09:44 | Report Abuse

It's has been a long wait but how fast will the price surge to RM1? Looks for fun managers rerating?
serpent100
After 5 years plus I’m waiting

15 hours ago

Posted by nikicheong > 2023-03-03 10:27 |

Post removed.Why?

Posted by nikicheong > 2023-03-03 10:29 | Report Abuse

The above is a bearish news, so I now doubt if a potential Cameia win is driving the share price movement.

Posted by nikicheong > 2023-03-03 10:34 | Report Abuse

Why always remove my posts?

https://www.upstreamonline.com/exclusive/malaysian-floater-player-pins-down-strategy-for-african-fpso/2-1-1407761

Posted by Bon888 > 2023-03-03 10:34 | Report Abuse

I will let go some near 0.69 but still keeping the balance to the peak.

Posted by Bon888 > 2023-03-03 10:39 | Report Abuse

OK sold some at 0.69. Just in case the price adjustment.

Continue support BA guys!

Posted by Russel > 2023-03-03 11:01 | Report Abuse

The 3 daily candles too strong la....seems like want to break RM1!

Posted by pang72 > 2023-03-03 11:04 | Report Abuse

What is up on armada?

Posted by pang72 > 2023-03-03 11:09 | Report Abuse

Break out

Posted by pang72 > 2023-03-03 11:09 | Report Abuse

70c

Posted by RISK8888 > 2023-03-03 11:10 | Report Abuse

Operator finally letting go?

Posted by Zhuge_Liang > 2023-03-03 11:12 | Report Abuse

Every dog has its day. Laughing all the way to the bank.
When good luck comes, just cannot stop it.
Thank you Armada.

Posted by Zhuge_Liang > 2023-03-03 11:14 | Report Abuse

Posted by nikicheong > 37 minutes ago | Report Abuse

Why always remove my posts?
---------------
You are one of the best knowledgeable person who writes with facts and figures.
I really appreciate your good effort and honest view.
You will be rewarded.
Thank you for your help.

Posted by Russel > 2023-03-03 11:16 | Report Abuse

Armada 不停在噴