Posted by Macgyver11 > 2023-11-23 12:56 | Report Abuse

Some they think using nickname people cannot track their address...main ler lagi.

Posted by Macgyver11 > 2023-11-23 13:13 | Report Abuse

Felice888

Aiyoh Mac you too serious lah. Just a joke on indian movies. Nothing to do with religions ma. Take it easy bro!

Yes it is serious for some people bro. If you want to mock indian then I suggest you shouldn't be in Armada family that fully owned by Indian boss..so if you want to mock find other method, don't use ethnic...

Posted by Michael Kwok > 2023-11-23 13:18 | Report Abuse

The i3 admin simply shoot to delete people pages.right there delete,wrong there delete.year 2022 i3 delete 3 page in a row.duh.
23/11/23 1.20pm
Posted by Felice888 > 24 minutes ago | Report Abuse

My posts automatically someone come delete constantly. No worries

Posted by Michael Kwok > 2023-11-23 13:21 | Report Abuse

Bumi Armada 54.5
Resistance 57 cents
Tp 40 cents range.
Doubt of rebound if no pass 57 cents.
23/11/23 1.22pm

Posted by rohank71 > 2023-11-23 16:03 | Report Abuse

#macfyver11..I have deleted my post if the joke had offended anyone. Sorry, everyone. Anyway thanks #niki for the update.

Posted by rohank71 > 2023-11-23 16:03 | Report Abuse

BA is on uptrend let enjoy it.

Posted by Macgyver11 > 2023-11-23 17:37 | Report Abuse

Thank you Rohank71. Appreciated. 👍

Posted by nikicheong > 2023-11-24 06:12 | Report Abuse

Delay of at least another week.

I swear, it feels like this FPSO is never coming online!

Posted by vespa > 2023-11-24 16:14 | Report Abuse

ONGC's/contractors just cannot seem to execute

Posted by HuatlaiOnglai > 2023-11-25 06:35 | Report Abuse

Pattern more than badminton! Patience of steel.

Posted by 8dragon > 2023-11-25 08:32 | Report Abuse

25 trading days left for the year. This stock will close the year below 0.58...

Posted by MM78 > 2023-11-26 20:29 | Report Abuse

I invest in Armada share since 2015, seen its worse performance over the years and a very short time its price went beyond 72 sens in March this year. I am wondering why the market has not given its support to Armada share price despite its debt level has been paid down from RM 13.8 B ( 239% debt to equity ratio) in 2017 down to RM 5.22 B in Sept 2023 ( 88 % Debt to equity ratio). is it the Armada management has failed to improve the market confidence in them or the major shareholder of Armada ? Armada current PE ratio of 4.5 is simply too low in view of its double digits ROE ( last 3 years) strong cash flows ( last 4 years). Is this strange phenomenon due to some big sharks manipulating its price to shake off small investors before the final pushing up of its share price or otherwise taking it private again ?

Posted by rohank71 > 2023-11-26 21:05 | Report Abuse

#MM78... just buy and keep... buy more... low price good for us to buy more.

Posted by rohank71 > 2023-11-26 23:08 | Report Abuse

Every quarter, the value increases by 3 sen... with firm contract of 10B and Option of another 10B... just sit and enjoy the ride. Enterprise Value (EV) today is 8B.... in next 2.5Y debt fully paid... and price will be 1.20 to match the same EV. That's 20% yield... buy and enjoy the ride

Posted by nikicheong > 2023-11-27 01:34 | Report Abuse

@MM78, it's down to orderbook replenishment. Simple enough!

Management has failed to secure any new contracts since 2015(!) with the exception of the Armada Sterling V FPSO project in India, and even that is only with a minority stake of 30%.

People here have made many excuses, but to me they don't fly. We have had a tight FPSO market for 3 years now and have successfully cleaned up the balance sheet, and yet, we've got nothing to show for it.

As it is, the market is valuing Bumi Armada at a discount simply because there is no major growth catalyst.

Yes, the P/E is low, the P/B is low, the ROE is at double digits...all these will continue remaining so only until 2025, cause after that once Kraken FPSO enters the option period, you will start to see profits decline, P/E increasing, P/B increasing and ROE falling.

Posted by nikicheong > 2023-11-27 01:38 | Report Abuse

I think they focus on selling off the Armada Installer / Constructor in Russia and work to pay off the RM1.5bil Sukuk due in September 2024 (instead of refinancing it). There will be sufficient internally generated funds to make the payment since the unsecured term loans have been refinanced to a much later date.

There is also a small but non-zero possibility that Armada TGT is sold off to the field operators. But more likely we will get an announcement of a 2 yr firm + 5 yr optional extension for the FPSO there in the coming months. This extension alone will add around 10 - 15 sen to Bumi Armada's valuation.

Posted by nikicheong > 2023-11-27 01:49 | Report Abuse

Don't forget, we have so many announcements with zero follow through for now. We best see things moving by Q1/Q2 2024, otherwise we can conclude that Bumi Armada is heading to its sunset.

1. Mumbai FSRU (JV with Shapoorji)
2. UK FSCIU (JV with Navigator Gas)
3. Madura FLNG (JV with Pertamina)
4. Akia PSC (JV with Pexco)
5. Akia FPSO + FLNG (JV with Pexco)
6. Unknown Indonesian CCS FEED (unknown)
7. Budi Onshore Gas Plant pre-FEED (unannounced)

Posted by MM78 > 2023-11-27 09:13 | Report Abuse

Thanks to everyone sharing your thoughts on Armada and especially to Niki for very detailed analysis. I do agree the real threat to Armada is no apparent growth catalysts now except some hope on extensions of contract options. We keep hearing some indications/news of some new project but very little update from management on these. Hearing some distant thunders but yet to see the rains. Yes, we shall wait a little longer to see if the current management team can show their worth . Thanks

Posted by nikicheong > 2023-11-27 09:47 | Report Abuse

Seems like there might be an FSRU award soon. Unknown if this is related to the Mumbai FSRU project or not.

Posted by nikicheong > 2023-11-28 13:31 | Report Abuse

Quiet day, not even half a mil traded. Calm before the storm perhaps?

Posted by nikicheong > 2023-11-28 15:46 | Report Abuse

During the ten months to end October 2023, average gross production was 19,108 Boepd (net 13,471 Boepd), which is reflective of high uptime before and after the anomalous failure of hydraulic submersible pump (‘HSP’) transformer units during the first half of the year. Since the efficient return to service of the floating production, storage and offloading vessel (‘FPSO’) restored full production in early August, the Group has overseen a return to top quartile performance, with the FPSO delivering production efficiency and water injection efficiency of 100% for the months of September and October. In addition, delivery and deployment of new HSP transformer units has provided increased resilience to production capacity.

Production in the second half of the year has benefited from the removal of two planned periods of single train operations, with the Group having executed maintenance work while production at the FPSO was shut-in. As a result, no further planned maintenance outages are anticipated during 2023.

Looking ahead, the Group has procured a mobile offshore drilling unit for the proposed drilling of two wells at Kraken during 2025.

https://www.enquest.com/media/press-releases/article/operations-update-17

----------

Positive update from Enquest. Further drilling in 2025 means that the FPSO's charter will be extended into its option period. Note that the Kraken FPSO's firm charter period ends in 2025.

Posted by Justaboylearning > 2023-11-28 22:01 | Report Abuse

Oil price dropping . Armada considered stabilized . Wonder if it will break support or resistance .

Posted by nikicheong > 2023-11-29 09:35 | Report Abuse

First oil delayed to around Dec 15th

Posted by RISK8888 > 2023-11-29 09:51 | Report Abuse

wow, delay again, this round 15Dec is it confirm? Or still got chance to delay further?

Posted by nikicheong > 2023-11-29 12:06 | Report Abuse

Anything can happen. Expect the unexpected. There's also a chance the FPSO might just never produce, the way things are going. Incompetence. These things can only happen in India.

Posted by Penarak > 2023-11-29 14:06 | Report Abuse

Maybe by Christmas , can hit something !

Posted by rohank71 > 2023-11-29 18:04 | Report Abuse

The risk associated with O&G.

Posted by RayLee > 2023-11-29 18:47 | Report Abuse

How many percent of the accidents will happen?

Posted by Jerichomy > 2023-12-01 00:26 |

Post removed.Why?

Posted by Justaboylearning > 2023-12-01 09:43 | Report Abuse

Support is broken !

Posted by Heungheungloveyou > 2023-12-01 10:04 | Report Abuse

a value trap company like Serbadk?

Posted by nikicheong > 2023-12-01 10:23 | Report Abuse

Beautiful!

Posted by Robert Waters > 2023-12-01 10:30 | Report Abuse

On no news at all is tubling like a rock.
Insiders must already know something.
It is never without a reason

Posted by Jacintha > 2023-12-01 10:38 | Report Abuse

Just great!

Posted by nikicheong > 2023-12-01 11:21 | Report Abuse

There might be an issue with a water injection pump onboard one of the producing FPSOs. Hearing something about it. However, I'm unsure if the impact is material and if that's what's driving the price lower.

By right, if there's any material impact to production arising from equipment failure, Bumi Armada needs to make announcement to Bursa Malaysia.

Posted by BobAxelrod33 > 2023-12-01 11:27 | Report Abuse

Simple.......DAP did it!!!!

Posted by lexwong89 > 2023-12-01 11:53 | Report Abuse

I give you guys a tip. If you can draw a parallel channel connecting the tops and bottom.

And.. look at the volume today, especially in the intraday chart, for almost 2 hours hovering at 0.515 to 0.52.

What does that mean?

Posted by TimCoke > 2023-12-01 11:59 | Report Abuse

means?

Posted by BobAxelrod33 > 2023-12-01 12:08 | Report Abuse

.........Means it is DAP's fault......

Posted by RISK8888 > 2023-12-01 12:31 | Report Abuse

push down to annouce good news, always like this. so good news is coming.

Posted by TimCoke > 2023-12-01 12:37 | Report Abuse

Yes, good news otw

Posted by rohank71 > 2023-12-01 12:37 | Report Abuse

Technicals very UGLY. For traders, most will sell. Investors stay cool and collect more.

Posted by rohank71 > 2023-12-01 12:37 | Report Abuse

#risk8888, I like ur theory..hahaha

Posted by 8dragon > 2023-12-01 12:56 | Report Abuse

0.48 will be a good buy next week...

Posted by rohank71 > 2023-12-01 13:41 | Report Abuse

Can buy at any price if U r long term holder. Casflow solid.

Posted by nikicheong > 2023-12-01 15:12 | Report Abuse

Seems like some heavy selling....

Posted by ming > 2023-12-01 15:29 | Report Abuse

AK gang kena margin call trigger by Astro kah~

Posted by zonefinder > 2023-12-01 15:29 | Report Abuse

I'm diving in at 51.5...

Posted by rohank71 > 2023-12-01 15:30 | Report Abuse

😁

Posted by BobAxelrod33 > 2023-12-01 16:13 | Report Abuse

Sime people uses CIMB