Posted by VincentTang > 2023-08-25 13:26 | Report Abuse

Revenue drop, net profit drop, still don want run? I don know how to say.

Posted by Heungheungloveyou > 2023-08-25 13:29 | Report Abuse

VincentTang, you need to learn the meaning of factor in

Posted by Felix888 > 2023-08-25 13:29 | Report Abuse

If you cannot differential one time financial impact and change of business outlook, better keep your money in FD.

Posted by TeamRocket > 2023-08-25 13:31 | Report Abuse

Overall just soso result, I doubt big player will come in, maybe just small 0.01-0.02 up as bilis come in play

Posted by i3lurker > 2023-08-25 13:33 | Report Abuse

Big Player already bought US Treasuries.
Tahfiz School students are buying up Armada from school fees and hostel money.

Posted by KimSua > 2023-08-25 13:35 | Report Abuse

Not that bad, expect one more insignificant quarter in Q3. Fundamentals still solid

Posted by i3lurker > 2023-08-25 13:40 | Report Abuse

look at the age of the FPSOs
A) the cashflow is just the payback for the huge initial investments.

very lucky if can walk away with small loss.

B) from the gambling viewpoint there are much more volatile counters out there

Posted by UncleFollower > 2023-08-25 13:41 | Report Abuse

3Q will be worse given similar loss in revenue + recognising HSP restoration cost

But by 3Q results we will be half way through 4Q. Assumming no hiccoughs it will be churning out 200M after tax each quarter

A pity they withdrew from FPSO Cameia. This balance sheet can take on 1 large FPSO like Yinson. Armada's cashflow really not bad

Posted by UncleFollower > 2023-08-25 13:43 | Report Abuse

at this point i think weakness relates to the loss of future prospects as once touted, and reputational credibility issues than kraken itself. Kraken issue obviously over for now

Posted by UncleFollower > 2023-08-25 13:45 | Report Abuse

A true B not true

Few Bursa counters consistently have this liquidity and volatility with some reasonable fundamentals. This is more volatile than MYEG



i3lurker

look at the age of the FPSOs
A) the cashflow is just the payback for the huge initial investments.

very lucky if can walk away with small loss.

B) from the gambling viewpoint there are much more volatile counters out there

3 minutes ago

Posted by UncleFollower > 2023-08-25 13:48 | Report Abuse

If Armada dont go up over next few months quite sad case de

When high NAV low earnings counter cant go up, we say stocks trade on earnings

So this one high earnings high NAV how lol

Posted by i3lurker > 2023-08-25 13:55 | Report Abuse

without any new thingies, Armada will end up as a cash company and then delisted by Bursa.
NO new thingies already mentioned by many people in FPSO markets.

Possible to get ready for next generation new era who may prefer a tech company
This had happened before to a number of BURSA counters.

Posted by TeamRocket > 2023-08-25 14:20 | Report Abuse

No prospect future, will be on-off goreng stock

Posted by TeamRocket > 2023-08-25 14:21 | Report Abuse

Penny stock 0.23 - 0.45cents counter like perdana or Sapura ending same

Posted by RISK8888 > 2023-08-25 14:25 | Report Abuse

ok liao lor, good QR. all clear no need guessing the impact from kraken. good bye 0.50

Posted by RISK8888 > 2023-08-25 14:27 | Report Abuse

just keep it, until sterling V is online + positive development in carbon capture in UK.

Posted by David Gunter > 2023-08-25 14:33 | Report Abuse

No so bad unlike some ID 10 T made it out to be

Posted by kiew3608 > 2023-08-25 14:42 | Report Abuse

the worse is over. Predictable result. Only going to get better. Lessons learned hopefully. Gearing level greatly improved.

Posted by stainlyho37 > 2023-08-25 15:54 | Report Abuse

chance take some now...hope to see green later...!!

Posted by nikicheong > 2023-08-25 16:17 | Report Abuse

I’m on a holiday, not had a chance to take an in-depth look yet.

On the face of it, results are mildly positive as there are no impairments booked for Kraken, means long-term nothing has changed following the return to 100% production.

Obviously the impact in Q2 is a lot more significant, as there was nearly one month of zero production. In Q3 the impact should be lower as there was 3 weeks at 60% and another 3 weeks at 90% production levels.

Another positive is Bumi Armada mentioned Oct 2023 for the expected date for first oil for Armada Sterling V. Let’s see if it happens.

Posted by nikicheong > 2023-08-25 16:43 | Report Abuse

There appears to be around a RM105m hit to the net profit from Kraken in Q2 2023 (around RM65mil from loss of revenue and RM40mil from cost of repairs).

In Q3 2023, I expect another RM25m to RM30m hit to the net profit from this.

Posted by TeamRocket > 2023-08-25 17:45 | Report Abuse

Share might be up for the future prospect but IF it’s going on track

Posted by DickyMe > 2023-08-25 20:05 | Report Abuse

The boss maybe Indian by physical appearance but not a true Indian at heart.
The entire machineries are parasitic.
If you are skeptical about Indian company why waste your money in investing in them?

It is like licking your own vomit. Funny creature!

Posted by i3lurker > 2023-08-25 20:37 |

Post removed.Why?

Posted by Felix888 > 2023-08-25 21:28 |

Post removed.Why?

Posted by ageetkumar > 2023-08-25 23:43 | Report Abuse

Since Armada Sterling V first Oil delay is not on account of the FPSO itself, shouldn't she be entitled to a stand by rate at least?

Posted by armadatuah2017 > 2023-08-26 07:41 | Report Abuse

i3lurker, good for you. go invest anything you like with your money from begging. why lingering at oil and gas forum like Armada to tell people on your noob experience in trading.. we know you had lost everything in Armada. stop showing your dumb ideas here

Posted by armadatuah2017 > 2023-08-26 07:43 | Report Abuse

I know you bought due to promoters and you lost till the very last pants of yours. blame on yourself, dope.

Posted by i3lurker > 2023-08-26 14:33 |

Post removed.Why?

Posted by StartOfTheBull > 2023-08-26 14:37 | Report Abuse

Old akua seasoned kot got your roti kosong today? Today you lick a lot of💩?

Posted by Felix888 > 2023-08-26 16:27 | Report Abuse

🤣🤣🤣🤣🤣

Posted by i3lurker > 2023-08-26 16:32 |

Post removed.Why?

Posted by Felix888 > 2023-08-26 16:36 | Report Abuse

I was talking about India company ONCG. I3licker and Dick man manipulated my meaning. This is the reason I deleted the post to avoid Misunderstanding. If I don't believe AK`s company why I put few hundred K in this company?

Posted by StartOfTheBull > 2023-08-26 16:45 | Report Abuse

Bye old akua back to Jalan Alor business. Watch out for the dry spill and liquid turbulence damage his already warranty expired rigid buntutt. What a pity he have to suffer all this just for a loaf of roti kosong.😏

Posted by StartOfTheBull > 2023-08-26 16:47 | Report Abuse

With SSLee head counting sitting on a broken chair at back lane Jalan Alor.😁

Posted by Felix888 > 2023-08-26 17:16 | Report Abuse

Armada Sterling V built for which oil company? I3licker if you don't know head and tail, DIAM! Shut up!

Posted by KML889 > 2023-08-26 17:16 | Report Abuse

How much can Armada Sterling 5 contribute to BA Topline knowing Its 30% JV with SPOGPL India. Hopefully BA can achieve 1st oil starting October as per nikicheong info.

Posted by KML889 > 2023-08-26 17:22 | Report Abuse

She is contracted to ONGC India for 8.8 billion over 9 years with options to 7 years extention

Posted by Felix888 > 2023-08-26 17:23 |

Post removed.Why?

Posted by Felix888 > 2023-08-26 17:27 | Report Abuse

RM293 million per annum revenue based on info from KML889

Posted by KML889 > 2023-08-26 17:29 | Report Abuse

With Q3 SI maintenance period out of the way, let's hope all Ship Shape and Bristol fashion for BA fleet

Posted by KML889 > 2023-08-26 17:32 | Report Abuse

Thanks very much Felix888 for the calculation. Meaning assuming BA is commanding 40% gross margin, then 117 millions will add to BA Topline annually

Posted by Felix888 > 2023-08-26 17:38 | Report Abuse

Armada kraken and Armada Olombendo still the bread and butter for BA for now. Any major incident on this 2 ships will have share price impact like what we witnessed in beginning of June.

Posted by KML889 > 2023-08-26 17:41 | Report Abuse

Popi Popi

Posted by Felix888 > 2023-08-26 17:48 | Report Abuse

Hope the management remember the lesson learnt. Adding redundancy of key equipments could avoid multi millions lost cost and maintain HSE compliance.

Posted by KML889 > 2023-08-26 18:01 | Report Abuse

Process redundancy is based on SIL studies on failure on demand and risk factors. That's pretty much taken care of during DE and HEMP and LOPA studies as well. The blunders to avoid was the one in OSV ventures during oil crashed in 2014. Took her near decades to turnaround to gearing ratio of 0.8 now

Posted by KML889 > 2023-08-26 18:03 | Report Abuse

Besides, AK was designed with 4 submersible HSP on topside

Posted by Felix888 > 2023-08-26 18:26 | Report Abuse

4 units of HSP, just 1 unit spare. No spare unit at the onshore facility. This costed the company suffered almost RM100 million revenue lost and next quarter will also have some impact. Not sure what type of studies the preventive maintenance department has carried out. This lost cost enough to pay for entire department salary for many years

Posted by i3lurker > 2023-08-26 18:38 | Report Abuse

That unit normally lasts more than 20 years, exceeding lifespan of any type of oil platforms.
Of course normally is relative to who you bought it from
so the spare unit is opportunity cost of 20 years gone and a net marginal benefits failure

Posted by i3lurker > 2023-08-26 18:44 | Report Abuse

there you go hentaming AK with ZERO knowledge.
What a racist !!!