Posted by Robert Waters > 1 month ago | Report Abuse

I share your frustration. We are excited about the price moves up and down, like today, but there is no project to discuss. And there has not been any for 8 years.
Even if they get one by some miracle, there will be 8 year gap in earnings growth in the future, so I see a lot of sense in your decision.

Posted by Cockcroach > 1 month ago | Report Abuse

HLIB stays overweight on oil and gas sector, names Dialog, Armada, Velesto as top picks

Posted by MM78 > 1 month ago | Report Abuse

The only saving grace for BA is its current Free Cash Flow but given the existing FPSO contracts are approaching the end of contract period subject to potential extension at reduced charter rates; I wonder what the impacts on the Free Cash Flow in near future are. BA looks more like a sunsetting company but with boastful ambitions of going carbon capture applications which shall not be in time to replenish its Free Cash Flow generations when its FPSO entering end of contract or lower charter rates period.

Posted by TimCoke > 1 month ago | Report Abuse

nev? 😏

Posted by TimCoke > 1 month ago | Report Abuse

580 still a good buy

Posted by marlboroman2 > 1 month ago | Report Abuse

585 still a good buy

Posted by TimCoke > 1 month ago | Report Abuse

Any of the news will do, just wait a little, lol

Posted by bullrun168 > 1 month ago | Report Abuse

Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.59 (+0.01) (+1.7 %)
Heng ah, Ong ah, Huat ah !

Posted by marlboroman2 > 1 month ago | Report Abuse

590 still a good buy, possible breakout in play

Posted by nikicheong > 1 month ago | Report Abuse

Like watching paint dry.

Posted by marlboroman2 > 1 month ago | Report Abuse

Like trying to book a grab driver during rush hour (so many drivers in the vicinity but none seems to pick up the ride)

Posted by leeabraham > 1 month ago | Report Abuse

leeabraham bullrun168 Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.59 (+0.01) (+1.7 %)
Heng ah, Ong ah, Huat ah (now 0.575!, tns it, why ah no project ???)

Posted by TimCoke > 1 month ago | Report Abuse

lol, go back in the end

Posted by 696988 > 1 month ago | Report Abuse

Everyday green meh? impossible lah, this not goreng stock also.

Posted by marlboroman2 > 1 month ago | Report Abuse

Today is yellow or green, possible lah, if not then eat pisang goreng lor

Posted by Gabriel Khoo > 1 month ago | Report Abuse

Accroding to the edge misc could take a substantial stake of armada

Posted by Robert Waters > 1 month ago | Report Abuse

Someone has to take charge as they are unable to get any project to move ahead. Yinson would be the best, but even Misc is better.

Posted by daretocutandchange > 1 month ago | Report Abuse

oil n gas stock charts look getting stronger

Posted by ckwee168 > 1 month ago | Report Abuse

@Gabriel, would u be able to share the article from The Edge on the potential buying of Armada stake by MISC? MISC had openly denied such moves in the past, but ARMADA's financials does look healthier now for any potential M&A play ya .. better keep ARMADA shares close to my chest if this is heading into something tangible ... Thanks and God Bless :)

Posted by Gabriel Khoo > 1 month ago | Report Abuse

https://www.klsescreener.com/v2/news/view/1354143

Posted by ckwee168 > 1 month ago | Report Abuse

Thanks, Gabriel and finger cross🤞

Posted by nikicheong > 1 month ago | Report Abuse

I'll gladly accept an exit offer above the 80 sen range, maybe even 75 sen.

Posted by vespa > 1 month ago | Report Abuse

(KUALA LUMPUR, June 6) Sources familiar with the matter revealed that Malaysia International Shipping (MISC, 3816, Main Board Transportation and Logistics) is in talks with Bumi Armada (ARMADA, 5210, Main Board Energy) to acquire the latter's shares and become its major shareholder.

Financial weekly TheEdge quoted sources as reporting that negotiations for Malaysia International Shipping to acquire Bumi Armada have been ongoing, but there has been no breakthrough yet.

In response to a reporter's inquiry, MISC also said: "The company is actively exploring any investment opportunities that can add value to its shareholders. If there is substantial progress, the company will communicate with relevant stakeholders."

It is understood that the above negotiations were conducted at the shareholder level and did not involve management, so the reporter did not seek advice from Bumi Armada.

The largest shareholder of Bumi Armada is Malaysian tycoon Ananda, who currently holds a 34.58% stake in the company.

Is India's Tata also a competitor?

It is believed that Ananda had the idea of ​​quitting several years ago, and Shapoorji Pallonji Mistry of India's Tata Group also seemed interested in taking over. The latter served as a member of Bumi Armada's board of directors from October 2014 to February 2017.

However, there has been no follow-up action since then.

Malaysia International Shipping is a subsidiary of Petronas (holding 51% of the shares) and is mainly responsible for Petronas' transportation-related matters.

Bumi Armada is one of the world's largest floating production storage and offloading (FSPO) operators, with total assets of approximately RM11.59 billion as of the end of March this year.

Posted by vespa > 1 month ago | Report Abuse

Google translation

Posted by nikicheong > 1 month ago | Report Abuse

If anybody has access to The Edge Weekly digital edition (or even print edition), appreciate if you could share the article. Seems like there's something substantive this time around. The Edge is usually quite reliable in their insider information.

Posted by Gabriel Khoo > 1 month ago | Report Abuse

Nik. This above is the key take away. Other written in the edge paper merely on bab info.

Posted by Gabriel Khoo > 1 month ago | Report Abuse

The offer if any to shareholders likely to be at the range of 85 to 90c

Posted by Gabriel Khoo > 1 month ago | Report Abuse

If its acquire by MISC bcos its means value accretion to them

Posted by birkincollector > 1 month ago | Report Abuse

Ananda very old already. Surely start the sucession plan. But his children no interest in businesses. Surely got major corporation moves for all his counters soon including astro and maxis

Posted by nikicheong > 1 month ago | Report Abuse

Link to the article: https://ibb.co/8sJz0Cc

Posted by nikicheong > 1 month ago | Report Abuse

Nothing too damning, but plans are afoot and I hope something comes of it this time. I can see MISC buying Ananda's stake, and then injecting their FPSO into Bumi Armada

Posted by Robert Waters > 1 month ago | Report Abuse

Do not get too excited. I studied Roach Energy a bit. About 50% was bought at 20 sen per share while it was trading at 5. There was hope, but did not materialize. Plans to invest. However, the counter is now at 3 sen.
We better hope all of BAB gets bought. Misc is cash rich as I checked.

Posted by Thirai Thiraviam > 1 month ago | Report Abuse

Given BAB's healthy free cash flow (of around 16 sens per share per quarter), the debt that stands at around 74 sens per share will likely be paid off by the end of 2026. After that, BAB would become a cash cow, at least for a while. Since BAB is no longer growing under the present management, some kind of change could be good.

Posted by nikicheong > 1 month ago | Report Abuse

Let's see how the market takes this news. Might see a jump in price and volume tomorrow, or it might be a nothing-burger.

Keep in mind that there are some key Malaysian/Petronas FPSO tenders on-going - Salam-Patawali (Conoco), Kikeh replacement FPSO and Kelidang (Brunei). Might be wanting to consolidate things closer to home as well.

Also, a dark horse might be Bumi Armada's position in the FSIU / FCSIU space. They're doing advanced work for FSIU / CCS for Shell. MISC might want to leverage on Bumi Armada's expertise in this area. I personally think that Bumi Armada doesn't have any edge in this area...but maybe they do, and we don't know yet.

Posted by ITreeinvestor > 1 month ago | Report Abuse

From theEdge Weekly

https://klse1.i3investor.com/blogs/news6720241/2024-07-09-story-h-157769037-MISC_could_take_a_substantial_stake_in_Bumi_Armada.jsp

Posted by marlboroman2 > 1 month ago | Report Abuse

something-burger for breakfast

Posted by TimCoke > 1 month ago | Report Abuse

omg, good news leaked

Posted by bullrun168 > 1 month ago | Report Abuse

Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.61 (+0.03) (+5.2 %)
Heng ah, Ong ah, Huat ah !

Posted by SonniaFang > 1 month ago | Report Abuse

This leak ? 😀 : Bumi Armada's largest substantial shareholders are billionaire businessman Tatparanandam Ananda Krishnan, who has a 34.58% stake; various funds under statecontrolled asset management outfit Permodalan Nasional Bhd, with a 13.25% stake; and privately held Saluran Abadi Sdn Bhd, the vehicle of Farah Suhanah Ahmad Sarji, with a 6.08% stake.

Posted by kkwong13 > 1 month ago | Report Abuse

I m buying Armada, huge potential for price spike up with FPSO demand continue rise worldwide. Easily go beyond $1.00 with forward PE 6 + MISC to buy it's share. Can up 80% by couple of weeks once big fund mgr observed it potential with sales order Rm9.1bil + additional Rm10.7bil, that Rm20bil secured business, plus now MISC plan to buy Armada to expand it's FPSO business, opportunity is huge

Posted by nikicheong > 1 month ago | Report Abuse

Shares of Bumi Armada jumped after local media reported that energy-shipping business MISC could be considering acquiring a substantial stake in the company.

Shares of the Malaysia-based offshore energy facilities and services provider rose as much as 6.9% on Tuesday morning. They were recently 4.3% higher at 0.61 ringgit ($0.13), taking 12-month gains to more than 23% and giving the company a market capitalization at MYR3.44 billion.

The Edge publication on Saturday quoted unnamed sources as saying that MISC may be in talks with Bumi Armada shareholders to buy a significant stake.

MISC shares were last 0.5% lower at MYR8.74.

Neither company immediately responded to requests for comment.

Maybank Investment Bank analyst Jeremie Yap said Tuesday that if the deal materializes, it could boost Bumi Armada's shares and would likely be neutral for MISC stock.

Bumi Armada has struggled to secure new floating production storage and offloading vessel jobs recently, likely due to unproven bankability in the past years, Yap said. If it doesn't win enough contracts, Bumi Armada will enter an earnings growth stagnation phase in 2025, he added.

BIMB Securities said it is unconvinced that MISC will proceed with the deal, which it thinks isn't financially justifiable. There are numerous other investment opportunities available that could yield significant returns for MISC's shareholders, the brokerage said.

Given the funding issues that MISC and industry peers are facing globally, the potential acquisition looks like a waste of financial resources, BIMB analyst Azim Faris Ab Rahim said in a note.

https://www.marketwatch.com/story/bumi-armada-shares-jump-after-report-of-potential-stake-acquisition-by-misc-34cc7457?mod=markets

Posted by Heungheungloveyou > 1 month ago | Report Abuse

With such so call good news only jump 2-3c. May falling back to square later. Like it or not this is BAB pattern. A stock not worth for investment nor trading.

Posted by nikicheong > 1 month ago | Report Abuse

Those who want an explanation or official clarification can write to Bursa Malaysia (Group 3) or Bumi Armada management. It feels like insiders knew about this and were buying last week already.

Posted by kkwong13 > 1 month ago | Report Abuse

Once a golden opportunity to buy Armada, stable, secure, profitable with super earning+ high net profits margin 35% + next Rm20bil business lock down.. what's else provide a secure, guarantee business to investors, super undervalued. Huge opportunity

Posted by vespa > 1 month ago | Report Abuse

Huge churn

Posted by TimCoke > 1 month ago | Report Abuse

20b revenues and 30% margin, sounds good

Posted by rohank71 > 1 month ago | Report Abuse

well done to all BA investors. I have to eat humble pie as I left the party early early at 56 sen. Well done guys and hope the deal materialises.

Posted by raymondroy > 1 month ago | Report Abuse

o&g getting the limelight it deserves, and if BA can perk up interest with its T4Q PER of 9.47x how about Yinson which is only at 7.77x ? Also I believe Yinson has a huuuuuuge order value in place.... or cud this all be AK's retirement plan.... as he lacks succession planning :-) happy hunting

Posted by Penarak > 1 month ago | Report Abuse

Misc says no development of any sort officially. So what is all the hullabaloo about !

Posted by ITreeinvestor > 1 month ago | Report Abuse

In reference to the article in The Edge Malaysia dated 8 July 2024 which speculates on the possibility of MISC undertaking a corporate transaction involving Bumi Armada Berhad, the Company wishes to clarify that whilst MISC continues to explore growth opportunities, in its ordinary course of business, there is currently no development within any opportunity that would necessitate disclosure as per the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.