Posted by rohank71 > 3 weeks ago | Report Abuse

broken... must wait for end May when Q1 results are out for a uptrend.

Posted by TimCoke > 3 weeks ago | Report Abuse

just collect now

Posted by TimCoke > 3 weeks ago | Report Abuse

and wait for the QR surprise

Posted by Ninja _07 > 2 weeks ago | Report Abuse

Guys, I am off-loading for now... I think the Waldorf issue is a concern for now... See you all in the next round yeah. Will be back soon!

Posted by rohank71 > 2 weeks ago | Report Abuse

#TimCoke.. the same here... looking forward for a good QR and also some notes in Annual Report and AGM presentation before end of May.

Posted by rohank71 > 2 weeks ago | Report Abuse

Back to above 58... still looking good.

Posted by Ninja _07 > 2 weeks ago | Report Abuse

Looks like everyone betting on Oil counters today

Posted by TimCoke > 2 weeks ago | Report Abuse

its time to pickup for 'investors'

Posted by Ninja _07 > 2 weeks ago | Report Abuse

Misc, dayang, hibiscus, perdana, dialog all went up .. but armada going down 🤔🤔

Posted by marc9enterprise > 2 weeks ago | Report Abuse

Ooops.... mouse pointer on the X .....accidently click and delete my own comments ... .hahaha

Posted by TimCoke > 2 weeks ago | Report Abuse

good news on its way

Posted by nikicheong > 2 weeks ago | Report Abuse

Competition warming up for large gas FPSO in Southeast Asia

https://www.upstreamonline.com/exclusive/competition-warming-up-for-large-gas-fpso-in-southeast-asia/2-1-1630052

Posted by nikicheong > 2 weeks ago | Report Abuse

TimCoke when you say that often enough, it's bound to come true at some point.

Posted by rohank71 > 2 weeks ago | Report Abuse

staying above 58 very well... keeping our hopes alive for a run-up.

Posted by TimCoke > 2 weeks ago | Report Abuse

Niki, law of attraction ma, but its actually based on fact... Below 6 is still a good buy

Posted by nikicheong > 2 weeks ago | Report Abuse

The 2023 Annual Report should be out in the coming days. Hopefully there are some concrete, positive developments hidden in there.

Regardless, we need some positive announcement specifically relating to a concrete contract win by June 2024. Otherwise, be prepared to write-off Bumi Armada.

If you read the recent Glassdoor review, it seems like a company without any future potential. Such a sad state of things. Gary must be held accountable for this debacle!

Posted by nikicheong > 2 weeks ago | Report Abuse

Reviews from Glassdoor

---------------------

Relaxing!

Pros

Relax culture, you can get to know everyone in the company, KLCC view, half day on Friday, 10 mins walk from public transport (LRT)

Cons

Could be better on the employee & career development structure.

---------------------

Bonus payout is considered low as compared to peers

Pros

Friendly environment, rarely working overtime

Cons

No projects. Transparency between upper management and employees is low

Advice to Management

Provide more profit sharing to the employee to retain the talent

---------------------

Posted by nikicheong > 2 weeks ago | Report Abuse

LMAO they work just half-day on Friday. Intern says it is a relaxing environment, this not good for us.

The second review says no projects. Also, not good for us.

Posted by rohank71 > 2 weeks ago | Report Abuse

sometimes better no new project vs loosing money in new project. unfilled sales up to 20B or NPV @ 13% @ 90 sen per share, better sit and collect the sales and don't screw up. Once debt paid, pay out the extra cash as DV.

Posted by rohank71 > 2 weeks ago | Report Abuse

most analysts valuation is based on NPV @ 16% @ 75 sen

Posted by rohank71 > 2 weeks ago | Report Abuse

this May after QR most analyst will upgrade to 80 to 90 sen band target price as long as NO screw ups. we don't need new projects... but just implement what's is already there with perfection.

Posted by TimCoke > 2 weeks ago | Report Abuse

73c - fair

Posted by vespa > 2 weeks ago | Report Abuse

Rohank that is right with cost of equity at just over 16 % and with debt pared down would generally relate to a lower discount increasing PV subject to freecashflow projections. These guys need another project to bump up valuation as buffer to future cashflow projections.

Posted by TimCoke > 2 weeks ago | Report Abuse

Collect at 0.59 before it is too late?

Posted by vespa > 2 weeks ago | Report Abuse

The "kick" is in the terminal valuation in the DCF model. A growing company would have a higher valuation. That is why Yinson's valuation is streets ahead

Posted by Robert Waters > 2 weeks ago | Report Abuse

Let us NOT kid ourselves. We, investors, are not going to make any profit, unless Armada management gets off their asses and start looking for new contract. Project division has been sitting 'half' idle for 5 years now.

Posted by vespa > 2 weeks ago | Report Abuse

Indeed Mr Waters!

Posted by TimCoke > 2 weeks ago | Report Abuse

do it before its too late ha

Posted by Robert Waters > 2 weeks ago | Report Abuse

Check the news. Greedy Gary is giving himself millions of shares and here is 60k for MGMNT. Seems unbalanced.

Posted by nikicheong > 1 week ago | Report Abuse

Greedy Gary has taken too much for himself, and left not much for the rest.

He is the reason Bumi Armada is decaying.

Hopefully, AK will awake from his slumber and shake things up at the top of Bumi Armada.

Greedy Gary has gotten too comfortable in his position.

Posted by rohank71 > 1 week ago | Report Abuse

AK also sleeping, so don't expect growth from BA... its just collection of contracts till expiry of contracts... and sale of BA to Indian party.

Posted by TimCoke > 1 week ago | Report Abuse

Wow, div may be paying out this time, perhaps

Posted by Robert Waters > 1 week ago | Report Abuse

I do not think that Greedy Gary would allow for any payments for shareholders. He already has 30 million of shares for free or half free, will likely ask to pass a special resolution to award more for himself. Maybe another 30 million over few years ? He gave 60 k for management. That is 0.2% or less. At premium. This guy is so greedy it is sick. There will be no money for shareholders left.

Posted by Gabriel Khoo > 1 week ago | Report Abuse

https://www.upstreamonline.com/field-development/mcdermott-completes-float-over-installation-for-huge-asian-offshore-facility/2-1-1633476

Posted by Gabriel Khoo > 1 week ago | Report Abuse

https://www.ogv.energy/news-item/ongc-awards-contracts-for-flagship-block-in-the-krishna-godavari-basin

Posted by nikicheong > 1 week ago | Report Abuse

Big week up ahead!

Posted by ITreeinvestor > 1 week ago | Report Abuse

Niki, Other than the Non-Informative Annual Report, is there anything else we should anticipate this week?

Posted by rohank71 > 1 week ago | Report Abuse

just sit and enjoy the future cashflow.

Posted by vespa > 1 week ago | Report Abuse

There are call warrants from April to Oct ( except Aug) all at exercise prices ranging from 53 to 60 sen...

Posted by vespa > 1 week ago | Report Abuse

If Greedy Gary pulls a rabbit out of the proverbial bag the upside would be sweet

Posted by Robert Waters > 1 week ago | Report Abuse

If Greedy Gary is still buying, he tries to keep the price down. He could delay news, prolong negotiation, not sign the contract, etc. Only after his bonus is awarded by special resulution of AGM - he may no longer be interested to suppress the price.

Posted by chankahmun77 > 1 week ago | Report Abuse

Was Armada the fore-runner of ONGC project?

Posted by chankahmun77 > 1 week ago | Report Abuse

can someone shed some light on the Management Incentive Plan? why buying at MYR 0.754 per share when he can get it at a much lower price from the market?

Posted by chankahmun77 > 1 week ago | Report Abuse

trying to learn from the sifu(s) here.

Posted by nikicheong > 1 week ago | Report Abuse

Sadly Bumi Armada is opting for e-AGM once again. It would've been better for shareholders face Greedy Gary in person and ask him pointed questions to his face, about his unending greed to richly reward himself at the expense of the shareholders.

Posted by rohank71 > 1 week ago | Report Abuse

and no dividend in sight.

Posted by nikicheong > 1 week ago | Report Abuse

Bumi Armada is venturing deeper into upstream oil & gas. In addition to Akia, they are working on Talu and Kojo fields.

Posted by nikicheong > 1 week ago | Report Abuse

Quite a pointless annual report. Nothing significant.

Major highlights:

1) Two new upstream assets/fields have been acquired - Kojo and Talu

2) USD400mil financing has been secured (binding agreement) to refinance RM1.5bil debt.

3) Nothing about new projects whatsoever.

Posted by nikicheong > 1 week ago | Report Abuse

On page 30, they claim to have "achieved":

1. Expand LNG re-gas business
2. Development of offshore carbon sequestration business

On page 18, they claim that there are multiple paid FEEDs centred on CO2 storage and injection vessels in progress.

On page 19, they claim to shoot a 3D seismic over Tulip (in Akia block) and will acquire other upstream assets that will need floating solutions in the success cases.

However, no specific update on:
1. Mumbai FSRU - From my sources, this project has been scrapped
2. Bluestreak CO2 - Still work in progress, nothing concrete yet
3. Madura FLNG - No update, project might not be viable

Posted by nikicheong > 1 week ago | Report Abuse

Anybody find any other interesting nuggets, please share