Posted by David Gunter > 2023-06-21 23:47 | Report Abuse

I wait till next month to collect when reach 60 sen and beyond thanks to 3 to 6 month lead times experts

Posted by myloh123 > 2023-06-22 00:08 | Report Abuse

Genuine investors wud avoid this company wid a 10 foot pole....make ppl lose their pants...txs God i took profit after holding 4+ years ...jus bef it crashed! Nope not investing anymore...no more trust.

Posted by David Gunter > 2023-06-22 05:21 | Report Abuse

Crashed? Lol

Posted by nikicheong > 2023-06-22 07:57 | Report Abuse

Any new research reports published today?

Posted by Ravi Kumar > 2023-06-22 08:18 | Report Abuse

lol the jokes begin. 12 months lead times

Posted by ITreeinvestor > 2023-06-22 08:59 | Report Abuse

niki, no need wait for any research report. We all know well where armada can reach =)

Posted by linheng > 2023-06-22 08:59 | Report Abuse

Restore to 60% already

Posted by linheng > 2023-06-22 09:00 | Report Abuse

Look at AmBank latest update

Posted by ITreeinvestor > 2023-06-22 09:00 | Report Abuse

Trust your own research and the rest to do is wait patiently

Posted by Felix888 > 2023-06-22 09:03 | Report Abuse

Sold 1st Batch 0.495.

Ka-ching!
Ka-ching!
Ka-ching!

Real money I3lurker. Not like your imaginative money. Haha haha.

Posted by Just88 > 2023-06-22 09:12 | Report Abuse

At least we know it is 60% production now not ZERO

Posted by nicky > 2023-06-22 09:19 | Report Abuse

Possible to break the strong resistance ?? RM0.50 today

Posted by sense maker > 2023-06-22 09:22 | Report Abuse

Last chance to buy sub-50sen will soon be gone.

Posted by MichelleNg > 2023-06-22 09:24 | Report Abuse

Still waiting for breakout 50cents to add more.

Posted by luckyfrankie > 2023-06-22 09:39 | Report Abuse

better run away now before get caught, it will be stagnant for atleat 10 days

Posted by Hotstuff > 2023-06-22 09:41 | Report Abuse

you can't even hold for 10 days??? no holding power come here for what?

Posted by Hotstuff > 2023-06-22 09:42 | Report Abuse

top up another 200k units @ 0.485.

Posted by Fklim888 > 2023-06-22 09:47 | Report Abuse

confident level is there...

Posted by nikicheong > 2023-06-22 09:51 | Report Abuse

I'm interested in the research reports from RHB, CIMB and UOB, if anyone has access to these.

Posted by zonefinder > 2023-06-22 09:52 | Report Abuse

I'm expecting this baby to double by end of the year.

Posted by Max2838 > 2023-06-22 09:58 | Report Abuse

CGS-CIMB n HLB analysts both made the same arbitrary estimate of 24 weeks downtime for Kraken FPSO.
Are they conspiring or collaborating? How did they conclude from their "analysis" of similar
downtime and effect on earnings?

Why no one crucify them? Instead you bash BA and also bash each other...

CGS-CIMB n HLB certainly need to make amends.
Now you can write to them the same way you write to Bursa....

Posted by nicky > 2023-06-22 09:58 | Report Abuse

Turning RED again..... I think price will be stagnant below RM0.50

Posted by CyrusQ > 2023-06-22 10:07 | Report Abuse

SeaPearl

rhb-report-my_bumi-armada_company-update_20230622_rhb-616886152257091264937bbca8598.pdf

# Cannot Open

Posted by nikicheong > 2023-06-22 10:09 | Report Abuse

CyrusQ can you share the direct link

Posted by nicky > 2023-06-22 10:13 | Report Abuse

ALL IBs call buy also can't help the price

Posted by CyrusQ > 2023-06-22 10:15 | Report Abuse

nikicheong

CyrusQ can you share the direct link

# Was posted by SeaPearl .... i think he have remove it

Posted by skyinvestor > 2023-06-22 10:16 | Report Abuse

We upgrade the stock to HOLD with an unchanged target price at 48 sen pending further guidance from the management on the financial impact and timeline for Kraken operations to fully recover," said Apex.

Posted by skyinvestor > 2023-06-22 10:16 | Report Abuse

this could explain why Armada stock got stuck at around 0.48sen

Posted by zonefinder > 2023-06-22 10:17 | Report Abuse

Relax. Short term fluctuations are normal.

Posted by nicky > 2023-06-22 10:21 | Report Abuse

so easy to slump, so hard to bounce

Posted by Sslee > 2023-06-22 10:21 | Report Abuse

Will do that coming weekend to crucify IBs, SC and Bursa.

Posted by Max2838 > Jun 22, 2023 9:58 AM | Report Abuse

CGS-CIMB n HLB analysts both made the same arbitrary estimate of 24 weeks downtime for Kraken FPSO.
Are they conspiring or collaborating? How did they conclude from their "analysis" of similar
downtime and effect on earnings?

Why no one crucify them? Instead you bash BA and also bash each other...

CGS-CIMB n HLB certainly need to make amends.
Now you can write to them the same way you write to Bursa...

Posted by Sslee > 2023-06-22 10:25 | Report Abuse

D you believe IBs Analyst are free to give their free, indepandent and fair analysis when IBs have vested interest on call warrant and beholder to their VVIP super rich clients?

Posted by MichelleNg > 2023-06-22 10:28 | Report Abuse

Short sellers will press down more for us to collect lower...lol

Posted by rr88 > 2023-06-22 10:28 | Report Abuse

Just take the sellers, no need to think.
I do the thinking for you.

1. 02 may => 02 june: price was at 0.635 moving sideways for a month.

2. On 02 june after market hours, announced fpso shutdown. Share price went down to as low as 0.415 ten days later.

3. Uncertainty of a prolong shutdown.

4. Then, ooops...MERELY 19 DAYS LATER, yesterday on 21 jun announced start-up production has reached 60% level.

5. Start-up and testing continuing. The nature of oil and gas plant start-up, increase of production in matter of like 1 to 2 weeks, not months. If they would shock the market by getting it up n running at 60% previous production in 19 days, they will shock the market again by getting it up to 100% in less than a month.

6. Bottom line, future is up, positive prospect, production will increase. Share price will follow this return pre-production problemt level o 0.635. So, this temporary weakness out of this short term production set back is a GOLDEN BUYING OPPORTUNITY.

7. Chartwise, share price is making a saucer shape u-recovery. Yesterday up, today pullback/consolidating, then in a day or two, will up again.

8. It is forming a cup n handle pattern. Cup top at 0.525, 06 june opening price. Cup bottom at 0.42 on 12 june. It will take out 0.525 and head towards 0.525 + (0.525 - 0.42) = 0.63, just a matter of time.

9. Its MACD has staged a GOLDEN CROSS today, which is a bullish signal.

10. Its RSI is at 32% which is far away from overbought, thus with ample room for significant upward move.

11. Once production restored to full previous capacity, it will return to sideways movement 0.60 - 0.65 for 1 to 2 months, b4 it will move up n break the recent new high above 0.70 towards 0.80 - 0.90.

Posted by nikicheong > 2023-06-22 10:29 | Report Abuse

I personally have no issues with IBs, they are free to give their independent opinion and share sensible/non-sensible target prices. I hold them in low regard, but from time to time, they do have some decent analysis as they have access to senior management, which we minority shareholders obviously lack.

Posted by xuxu > 2023-06-22 10:33 | Report Abuse

wowowow rr88 gives so high TP 70-90cts hehe

Posted by nicky > 2023-06-22 10:35 | Report Abuse

When everyone predicted it will go up, it coming down.....LOL

Posted by Hotstuff > 2023-06-22 10:37 |

Post removed.Why?

Posted by Sslee > 2023-06-22 10:37 | Report Abuse

Source : RHB-OSK, Price Call : BUY, Price Target : 0.73
Last Price : 0.475, Upside/Downside : +0.255(53.68%)
22-Jun-2023 Price Target Bumi Armada - Partial Operations for Armada Kraken

Source : PUBLIC BANK, Price Call : BUY, Price Target : 0.70
Last Price : 0.475, Upside/Downside : +0.225(47.37%)
22-Jun-2023 Price Target Bumi Armada - Kraken Back In Action

Source : KENANGA, Price Call : BUY, Price Target : 0.62
Last Price : 0.475, Upside/Downside : +0.145(30.53%)
22-Jun-2023 Price Target Bumi Armada - Armada Kraken resumes production at 60% of preshutdown levels

Source : AmInvest, Price Call : BUY, Price Target : 0.69
Last Price : 0.475, Upside/Downside : +0.215(45.26%)
21-Jun-2023 Blog MQ Market Updates - 21 June 2023

Posted by Max2838 > 2023-06-22 10:38 | Report Abuse

I guess there is no free lunch....
All these Analysts reports are mostly on the BACK-ON-ENVELOP calculat-cutions (calculate executions for the shortie trades)...
So young... where got sufficient crystallised intelligence?
Admittedly, they certainly got a lot of fluid intelligence.
(fluid intelligence= free flowing and changing??)

Posted by MichelleNg > 2023-06-22 10:50 | Report Abuse

Why IBs TP all above 60cents? My TP for today only breakout 50cents. Lol

Posted by Sslee > 2023-06-22 11:08 | Report Abuse

https://klse.i3investor.com/blogs/Sslee_blog/2022-10-31-story-h1651095893-Petron_Malaysia_My_email_to_Kenanga_IB_analyst_and_Petron_Malaysia_IR.jsp

I have my fair share of crash with IBs analyst to no avail.

Posted by nikicheong > Jun 22, 2023 10:29 AM | Report Abuse

I personally have no issues with IBs, they are free to give their independent opinion and share sensible/non-sensible target prices. I hold them in low regard, but from time to time, they do have some decent analysis as they have access to senior management, which we minority shareholders obviously lack.

Posted by MM78 > 2023-06-22 11:10 | Report Abuse

RHB analyst reports on 23 June
 Keep BUY and SOP-based TP of MYR0.73, 51% upside. We are longterm positive on Bumi Armada’s MoU with Navigator Holdings – this could
potentially generate a new source of income for the former as it embarks on
a global energy transition agenda. Our call is still premised on the
assumption that the Kraken shutdown will be resolved in the short term.
 To provide CO2 solutions. BAB announced the signing of a non-binding
MoU with Navigator Holdings, the owner and operator of the world’s largest
fleet of handysize liquefied gas carriers, to establish a JV company (to be
owned equally) to provide CO2 shipping and injection solutions in the UK.
The JV is looking to design and implement a value chain of shuttle tankers
delivering to a floating carbon storage & injection unit. It is estimated that
the potential market in the UK is over 30m tonnes of CO2 pa from emitters
that are not proximate to the existing awarded carbon capture, usage and
storage clusters. Both parties are in initial discussions with a number of
emitters, and if successful, the first shipment of CO2 is anticipated to take
place three years after taking the final investment decision.
 Minimal earnings impact for now. Overall, we are long-term positive on
the venture – this could potentially generate a new source of income for
BAB as it embarks on a global energy transition agenda. It was stated that
the company operates the only FPSO which uses an amine recovery
system to extract hydrogen sulphide (H2S) from production gas, similar to
what is used in many of the CO2 capture-recovery systems worldwide.
However, pending further details from management, near-term earnings
impact is likely to be minimal, and funding requirement would depend on
the size of the project pipeline. As such, we maintain our earnings
estimates.
 Kraken status. Separately, BAB announced that following the recent startup of the Kraken FPSO, production is currently at c.60% of pre-shutdown
level. There is still further work, testing and investigations ongoing to
stabilise and bring the vessel’s operational performance back to preshutdown level. According to upstream, the UK’s Health & Safety Executive
(HSE) is examining the circumstances that led to the shutdown. It was also
reported that only one of the four hydraulic submersible pumps (HSPs) is
available for use, while the other three need to be replaced. Note that
Armada Kraken accounted for >30% of our valuation and any long-term
disruption would present a downside risk to our TP, which implies FY24F
P/E and P/BV of 5.4x (below its 5-year mean of 6x) and 0.6x (below +1SD
from its 5-year mean). It also incorporates of a 6% ESG discount, based on
our ESG score of 2.7.
 Downside risks: Contract cancellations, failure to win new contracts, and
a further deterioration in Armada Kraken’s operation

Posted by ValueInvestor888 > 2023-06-22 11:12 | Report Abuse

Kraken comeback – but still not optimal

Yesterday, Armada announced that it has signed a non-binding MoU with Navigator Holdings to establish a 50:50 JV to venture into carbon capture initiatives. If successful, the first shipment of CO2 is anticipated by the parties to take place three years after taking the FID – which also means that there will be no near-term earnings impact from this development. Also, the group also announced that its Armada Kraken FPSO has recently start-up and is currently at 60% of pre-shutdown production levels. Previously because of the shutdown, we have imputed a 6-months downtime for the FPSO – which we believe is prudent enough. To be conservative, we make no change to our forecasts but we now believe that there is upside earnings risk to our FY23f estimate. We upgrade Armada to BUY – with an unchanged TP of RM0.54 – pegged to a P/E multiple of 6x on FY23f earnings, which is at a 40% discount to its peer Yinson’s one-year forward multiple of 9.5x

Impact on Kraken was not as severe as expected. Armada announced that its heavyweight Armada Kraken FPSO has recently start-up and is currently at 60% of pre-shutdown production levels – which is not as severe as initially expected.

Previously because of the shutdown, we have imputed a 6-months downtime for the
FPSO based on a daily charter rate of approximately USD480k/day (or USD175m/year). However, we highlight that there is a good possibility that because of its current suboptimal production levels (optimal would be 95% and above), the group may not be able to rake in full bareboat charter rates until the problem gets resolved.

Hong Leong Investment

Posted by ValueInvestor888 > 2023-06-22 11:15 | Report Abuse

Partial Operations for Armada Kraken

Bumi Armada (BAB) announced that production levels are now at ~60% of preshut down level for the Armada Kraken Floating Production Storage Offloading
(FPSO) vessel, a significant and much-welcomed development. We are on this as
it has far exceeded from our conservative target under a worst-case scenario
assumption of a 3-month total shut down. However, it still has further work to do,
on testing and investigations to stabilize and bring the vessel back to fullyoperational performance. We remain cautious on the near financial impact until it
reaches stable operations, post-completion of all on-going testing and
investigations. As such, we make no changes to our earnings assumption for now.
On a separate development, BAB signed a non-binding Memorandum of
Understanding (MoU) with Navigator Holdings Ltd to form a JV, Bluestreak CO2
Joint Venture. This could be its first foray into floating carbon storage and injection
unit if it materialises. Long-term prospects of the Group remain intact with strong
cash reserves and balance sheet. We maintain our Outperform rating with an
unchanged TP RM0.70.

§ Some relief. We believe the recent sell-down since the Armada Kraken
shutdown announcement is overdone after RM1.3bn in market capitalisation
was lost at the lowest share price. This is unjustified in our opinion given that
the value equates to almost 2 years’ worth of revenue contribution from the
FPSO. The announcement on partial operations is a relief to the market and
will support sentiment until the FPSO reaches stable operational levels.
Despite this positive surprise, we remain cautious on its operational stability
until the completion of all testing and investigations.

§ First foray into floating carbon storage and injection. Separately, BAB
signed a non-binding MoU with Navigator Holdings Ltd, a listed entity in
NYSE, operator and owner of the world’s largest fleet of handy-size liquefield
gas carriers. The purpose of the MoU is to form a JV, Bluestreak CO2 Joint
Venture with the aim to design and implement a value chain of shuttle tankers
delivering to a floating carbon storage injection unit in the UK. This is in line
with the UK’s Industrial Decarbonisation Strategy with potential market of over
30MT of CO2 per annum. It expects the first shipment of CO2 will take place
three years after making the final investment decision if it reaches a deal with
on-going discussions. A long-term benefit to BAB, this will help diversify its
portfolio in addition to improving its ESG rating among developed countries
and financiers, which will enable BAB to secure more contracts of this nature,
and access to capital.

Public Invest

Posted by ValueInvestor888 > 2023-06-22 11:17 | Report Abuse

For price to go up further, perhaps have to wait for further announcement when they bring the vessel back to fully operational performance...

Meanwhile it is time to accumulate as it is matter of time for Kraken to achieve fully operational performance

Posted by Sslee > 2023-06-22 11:20 | Report Abuse

https://klse.i3investor.com/servlets/stk/3042cx.jsp

Do you think the Kenanga analyst will write anything good when Kenanga issue the above call warrant on Petronm?

Posted by MM78 > 2023-06-22 11:22 | Report Abuse

https://pinpoint-insights.com/interx/tracker?op=click&id=1c07f.1aee&url=https%3A%2F%2Fresearch.rhbtradesmart.com%2Fdownload.php%3Ffile%3D616886152257091264937bbca8598&_hC=CEEC5253

Posted by ValueInvestor888 > 2023-06-22 11:23 | Report Abuse

Kenanga Research

Kraken Back In Action

ARMADA revealed that FPSO Kraken had finally achieved start-up
after a recent shut-in. As such, production is now currently
running at circa 60% of pre-shutdown levels. We are positive on
the swift, albeit only partial restoration of Kraken’s production. We
believe this will largely alleviate concerns of a major financial
impact. We cut our FY23F earnings by 9% and our TP to RM0.62
(from RM0.75) but maintain our OUTPERFORM rating.
Kraken finally revived operations. ARMADA revealed that FPSO
Kraken had finally achieved start-up after a recent shut-in. As such,
production is now currently running at circa 60% of pre-shutdown levels.
Nevertheless, ARMADA will conduct further testing and investigations
to fully restore the vessel’s operational performance.
Recall that on 2 June, ARMADA reported that FPSO Kraken had
experienced a production shut-in due to equipment failure. The reduced
level of production for Kraken implies a reduction in bare boat charter
(BBC) revenue. To recap, Kraken was first deployed at the North Sea
by client, Enquest in Jun 2017. However, it did not receive full BBC
rates from Enquest until 1QCY20, when it finally reached the threshold
for minimal operational uptime.
Swift restoration is commendable. We are positive on the swift, albeit
only partial restoration of Kraken’s production. We believe this will
largely alleviate concerns of a major financial impact on ARMADA.
However, some concerns may linger, clouding investor sentiment until
Kraken’s operations finally normalize. They include: (i) prolonged delay
until operations fully stabilizes, (ii) possibility that the “material” financial
impact may turn out larger-than-expected, (iii) hefty repair and
maintenance costs may not be fully covered by insurance, and (iv)
Enquest may impose penalties or requires reimbursement from
ARMADA. Nevertheless, we commend the company for quickly
restoring operations to more than half of its full capacity. This is in less
than a month since the first shut-in announcement.
We estimate that the shut-in may impact earnings albeit benign as
reflected by a 9% cut to our FY23F earnings. This is based on our
assumption that Kraken receives 60% BBC from Enquest for three
months in Jun-Aug CY23.
Incorporating loss of BBC into our forecasts. As detailed above, we
cut our FY23F earnings by 9% to account for Kraken’s shut-in.
Additionally, given that Kraken’s risk profile is now escalated, we raise
our beta assumption for the vessel’s DCF valuation. This is to account
for increased risk of unplanned outages if the equipment failure
relapses or cascades.
As a result of the above, our Sum-of-Parts TP on ARMADA is cut to
RM0.62 (from RM0.75). Our valuation also reflects a 5% discount to
factor in a 2-star ESG rating as appraised by us (see Page 5).
We like ARMADA due to: (i) continued traction in efforts to deleverage
its balance sheet (current net gearing: 0.8x), (ii) long-term earnings
visibility from sizeable orderbook in excess of RM20b (including
potential extensions), and (iii) it being the front runner for an USD1b
EPCC contract for FPSO Cameia. Maintain OUTPERFORM

Posted by Huangbk72 > 2023-06-22 11:51 | Report Abuse

If work started.. this price is attractive