Posted by Robert Waters > 2023-04-27 17:49 | Report Abuse

Thanks Niki for the explanation about queue jumping and getting better deal than asked due to the opening price. I have not experienced it in the past, as the broker was doing the orders for me (at RHB), but now with a discount broker I have that bonus available.

Since I have now some time between contracts having finished an FPSO in Korea, I will put extra diligence into this counter and similar ones. Seems like there are a few opportunities for us. I had Yinson for 10 years, so longer experience in this investment area than most. From all I know, it is NOT the time to sell Armada yet.

Posted by Robert Waters > 2023-04-27 17:51 | Report Abuse

Gabriel, I started to read BA annual report. First 40 pages are about ESG. I was a bit worried that they may not priotized performance, but I realize that ESG is good for rating as investor's bank feature it prominently, so be it. Not going to complain about it at annual meeting.
:-)

Posted by Bon888 > 2023-04-27 23:10 | Report Abuse

My opinion Armada should stop the conventional business model build and lease the FPSO. This business model is too risky for the company. Lesson learnt from Armada Claire, no one want the FPSO with contract termination history.
One terminated contract could send the company into bankruptcy.

Armada should focus on JV model or EPCC with lower risk but of course with lower return.

Posted by Robert Waters > 2023-04-28 10:40 | Report Abuse

Whatever model they use: lease, JV, EPCC, etc., they better have somethings as it has been long since last project. I am NOT for having a big order book as the inflation, scarcity of supply will likely bring prices up. But there should be some deals or better prospects.
One important item for us, investors, is that it takes many years to sign the deals, deliver, operate and have contract renewed or terminated. We will likely move on to new opportunities and let others take the risk. I will be out for sure when P/E is 10+.

Posted by Bon888 > 2023-04-28 13:43 |

Post removed.Why?

Posted by nikicheong > 2023-04-28 13:53 | Report Abuse

Likely no issue with Enquest, beginning May 2025 they will only pay 1/3rd rate so on a cost basis to Bumi Armada as the firm charter ends. As such, it will be even more attractive to keep leasing the FPSO (as long as they're producing a decent amount of oil, which does seem to be the case).

Posted by RISK8888 > 2023-04-28 14:57 | Report Abuse

As of dec22. Armada order book stand at 11bil. Where can I find the break down of the 11bil?

Posted by Mabel > 2023-04-29 21:38 | Report Abuse

Full year 2022 earnings: EPS misses analyst expectations
Full year 2022 results:

EPS: RM0.12 (up from RM0.11 in FY 2021).
Revenue: RM2.41b (up 11% from FY 2021).
Net income: RM732.4m (up 11% from FY 2021).
Profit margin: 30% (in line with FY 2021).

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.9%.

Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Malaysia are expected to grow by 1.2%.

Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth.

Posted by Gabriel Khoo > 2023-04-30 19:29 | Report Abuse

AR2022. Foreign shareholdings now at 22%+ (31/3/23) up from 12% (31/3/22)

Posted by OrlandoOilSemiconIoT > 2023-05-01 16:38 | Report Abuse

Now u know the importance of F4GBM

Do not stick ur head into the sand (and feel so good about urself)... pay attention to the big picture



Posted by OrlandoOilSemiconIoT > 2 months ago | Report Abuse

F4GBM

Armada ain't the same anymore

Institutional funds investable


Posted by OrlandoOilSemiconIoT > 2 months ago | Report Abuse

And begining of year institutional funds rebalancing their portfolios.....


Posted by OrlandoOilSemiconIoT > 2 months ago | Report Abuse

F4BGM

For the uninitiated...

Posted by Bon888 > 2023-05-01 16:57 | Report Abuse

We should target Armada get a place in KLCI components. Price must be least RM 2.00 to replace Dialog in KLCI.

Nothing is impossible, Armada is an international company. One of the top FPSO company in the world.

Posted by Bon888 > 2023-05-01 17:15 | Report Abuse

In term of revenue and profit, Armada has exceeded Dialog. I believe the top financial performancer in Malaysia Oil and Gas industry beside Petronas subsidiaries.

Posted by RISK8888 > 2023-05-02 08:39 | Report Abuse

But the risk involve in order book must be taken in. Revenue will start slow down after 2025 if no new order come in. Share price is forward looking. It won’t go any high as 2025 is approaching. Unless dividend start to declare.

Posted by Bon888 > 2023-05-02 09:01 | Report Abuse

Don't worry new FPSO coming. Yinson already taken too many projects. Good chance for Armada to grab at least one new FPSO project.

Armada Cameia is her buetiful name.

Posted by Bon888 > 2023-05-02 21:15 | Report Abuse

The end of the most painful chapter for Armada. Armada took the bullet for a depleting oil field and oil price crash.

https://www.klsescreener.com/v2/news/view/1147179

Posted by RISK8888 > 2023-05-03 08:23 | Report Abuse

Rm1 in 2 years time?

Posted by Bon888 > 2023-05-03 09:10 | Report Abuse

RISK8888 2 years too conservative. Within 1 year just need a new FPSO project.

Posted by Robert Waters > 2023-05-03 09:41 | Report Abuse

AI content for Armada (I think, as it is so plain)
A bit overconfident as estimate is usually not precise. Maybe +/- 20%
So, how you miss it by 1.9% ?
But this AI catches one thing. Revenues will decrease.
My point is that new project is really needed.
I noticed that workforce decreased from 2k to 900. Not a good sign long term.
Cannot downsize perpetually.
---
Full year 2022 BAB earnings: EPS misses analyst expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.9%.
Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Malaysia are expected to grow by 1.2%.

Posted by RISK8888 > 2023-05-03 11:28 | Report Abuse

Wow great if in 1 year can reach rm1

Posted by Bon888 > 2023-05-03 12:48 | Report Abuse

https://www.upstreamonline.com/exclusive/fpso-opportunity-opens-up-as-major-australian-project-shows-signs-of-returning/2-1-1443502


Cuming soon...Very soon!!

Posted by Robert Waters > 2023-05-03 15:02 | Report Abuse

Great news about this Dorado FPSO project in West Australia. Remember that there is also Tuna opportunity in Asia (Indonesia). So it is not only Total Cameia, but a few other options as well.

Posted by Gabriel Khoo > 2023-05-03 21:42 | Report Abuse

https://www.offshore-energy.biz/totalenergies-cheers-important-milestone-towards-sanctioning-oil-project-off-angola/

Posted by Gabriel Khoo > 2023-05-03 21:42 | Report Abuse

Got chance?

Posted by Bon888 > 2023-05-03 22:10 | Report Abuse

TotalEnergy Camiea is almost in Armada`s pocket. Just waiting for blueink signatures.

Posted by RISK8888 > 2023-05-04 09:17 | Report Abuse

Sure or not?

Posted by nikicheong > 2023-05-04 11:58 | Report Abuse

Cameia is not a done deal man....quit spreading misinformation. TotalEnergies has been considering other possibilities for a few months now. Bumi Armada still has a chance, but no longer guaranteed to land the contract.

Posted by Bon888 > 2023-05-04 12:31 | Report Abuse

Nick, I said almost just pending the agreement.

This is the last news on Cameia FPSO. Armada is on pole position to win this contract.

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

Posted by nikicheong > 2023-05-04 12:34 | Report Abuse

From that same article:

"Multiple sources told Upstream the negotiations to finalise the FPSO contract are far from settled due to issues around capital costs and access to financing."

Posted by Bon888 > 2023-05-04 12:40 | Report Abuse

I believe Armada has the financial ability and available capacity to win this contract.

Posted by RISK8888 > 2023-05-05 11:25 | Report Abuse

But the price seems on the way to longkang

Posted by serpent100 > 2023-05-05 14:16 | Report Abuse

https://www.upstreamonline.com/exclusive/totalenergies-to-sanction-6-billion-angolan-project-in-june/2-1-1419539

Posted by serpent100 > 2023-05-05 14:16 | Report Abuse

Waiting jun/july

Posted by nikicheong > 2023-05-05 21:41 | Report Abuse

Armada Tuah 300 sold, last OSV disposed. Another chapter closed.

Posted by Gabriel Khoo > 2023-05-05 23:39 | Report Abuse

Just sizeable enough to move in cleaner energy industry. Well done for armada. Do not carry too many babies. Easier to navigate tru the energy transition.

Posted by RISK8888 > 2023-05-06 08:05 | Report Abuse

Niki, where u got the news?

Posted by nikicheong > 2023-05-06 23:33 | Report Abuse

Here: https://www.linkedin.com/feed/update/urn:li:activity:7060161531572879360/

Posted by RISK8888 > 2023-05-07 16:43 | Report Abuse

Tq niki

Posted by ageetkumar > 2023-05-08 11:34 | Report Abuse

Personally, I think it was not a very wise move to dispose off all the OSVs. There is a huge shortage of OSVs emerging in the the offshore wind industry. BA could have converted these vessels for offshore wind farms use.

Posted by MM78 > 2023-05-08 16:25 | Report Abuse

Armada could not afford to keep the money bleeding OSVs for the last few years, given its high debt. The impairments due to idled OSVs would have caused impairment each year. The idle OSV were becoming cancerous for the company before they were sold off. Armada could not have pared off the debt as fast if the OSVs were not sold off.

Posted by Bon888 > 2023-05-08 17:16 | Report Abuse

"壮士断腕" is a Chinese idiom that literally translates to "a hero cuts off his arm." The closest English equivalent might be "drastic measures" or "to make a sacrifice for a greater good." It implies a willingness to take extreme actions, such as making a difficult decision or enduring great hardship, in order to achieve a desired outcome or goal.

Posted by Gabriel Khoo > 2023-05-08 17:41 | Report Abuse

Size of osv has been reduced and small. Hence this segment may not be run in very effective manner. The yard has been in poor condition.

Posted by nikicheong > 2023-05-08 17:48 | Report Abuse

What yard?

Posted by Gabriel Khoo > 2023-05-08 17:55 | Report Abuse

Vessel* sorry nik

Posted by RISK8888 > 2023-05-09 06:50 | Report Abuse

Down 3 sen, up 3 sen. Then? down to longkang?

Posted by serpent100 > 2023-05-09 17:00 | Report Abuse

Zzz

Posted by RISK8888 > 2023-05-09 20:58 | Report Abuse

Down 3 sen up 3 sen down 3 sen. Tak ada kerja ni.

Posted by RISK8888 > 2023-05-10 17:39 | Report Abuse

Why no up 3 sen?

Posted by Bon888 > 2023-05-10 17:45 | Report Abuse

Risk888 this is not goreng counter, you don't have to check the price everyday. Just check news and the quarterly result will do.

Posted by Robert Waters > 2023-05-11 12:06 | Report Abuse

I see that BAB is issuing shares to management. They do it at 0.75. So the price is reasonable, but they will probably be acuired if stock goes above the price. Fair enough. Let them bring it up 10 sens.
--------------------------------------------
Listing Date
10-May-2023
Management Incentive Plan
No. of shared issued
92,800
Issue Price
MYR 0.754

Posted by RISK8888 > 2023-05-11 13:02 | Report Abuse

0.7 coming QR boleh?