Posted by nikicheong > 2024-07-08 14:12 | 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 > 2024-07-09 08:03 | 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 > 2024-07-09 09:02 | Report Abuse

something-burger for breakfast

Posted by TimCoke > 2024-07-09 09:04 | Report Abuse

omg, good news leaked

Posted by bullrun168 > 2024-07-09 09:07 | 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 > 2024-07-09 09:20 | 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 > 2024-07-09 10:49 | 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 > 2024-07-09 10:59 | 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 > 2024-07-09 11:00 | 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 > 2024-07-09 12:39 | 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 > 2024-07-09 14:47 | 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 > 2024-07-09 16:04 | Report Abuse

Huge churn

Posted by TimCoke > 2024-07-09 17:00 | Report Abuse

20b revenues and 30% margin, sounds good

Posted by rohank71 > 2024-07-09 19:23 | 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 > 2024-07-09 19:32 | 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 > 2024-07-09 20:29 | Report Abuse

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

Posted by ITreeinvestor > 2024-07-09 20:42 | 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.

Posted by ITreeinvestor > 2024-07-09 20:43 | Report Abuse

MISC didn't deny the transaction, instead it mean that if any progress big enough to disclose, they will make announcement in bursa.

Posted by nikicheong > 2024-07-09 20:48 | Report Abuse

A deal, if any, is still in its infancy.

I wrote in to Bursa Malaysia today on both MISC and Bumi Armada. Only MISC has responded with an official clarification.

Posted by Robert Waters > 2024-07-09 21:13 | Report Abuse

This seems to be the usual way with BAB. When Kraken had HSP failure we had to get information from Enuest, even though the matter was immaterial for them. Any develpment that leads to change in management I approve, as they do not care about minority shareholders being informed.

Posted by leeabraham > 2024-07-10 09:42 | Report Abuse

knee jerk reaction yesterday.

Posted by zonefinder > 2024-07-10 10:05 | Report Abuse

No smoke without fire. Just that this will take some time to materialise. Meantime, the management will take this as an excuse to sit back and relax. No more initiative to look for projects. What a joke...

Posted by serpent100 > 2024-07-10 10:55 | Report Abuse

Misc main main

Posted by nikicheong > 2024-07-10 11:06 | Report Abuse

Speculations of a merger might have lifted Bumi Armada’s (BAB) share price in the past month. While combining both FPSO fleets may propel the merged entity to Modec’s fleet size, alongside complementary geographical FPSO market presence, the stumbling blocks are too great in our opinion. There is a lack of financial synergies from the non FPSO segments. If any, we think a collaboration in certain projects may generate more positive market reaction. We advise investors to take profit on BAB.

SELL BAB with an unchanged target price of RM0.50. We assume the recent share price appreciation is related to the speculation, as BAB’s fundamentals is unchanged with no nearterm prospects of a contract win. Moreover, a Jun 24 Upstream article revealed that the payment dispute by ONGC for the JV FPSO Armada Sterling V still lingers, despite the FPSO having already achieved first oil on 7 Jan 24. This also implies that the final acceptance test may miss management’s expectation of Jun 24. Hence, we advise taking profit on BAB.

https://research.uobkayhian.com/content_download.jsp?id=79779&h=633b65a72baf25227e30eaab8d497bba

Posted by ITreeinvestor > 2024-07-10 11:29 | Report Abuse

Potential to create a mega FPSO player equal to Modec’s fleet size, with complementary areas in geographical reach.

Theoretically, combining the 13/8 offshore assets of MISC/BAB can create an FPSO behemoth with a fleet size equivalent to Modec, the largest FPSO player globally

Posted by Robert Waters > 2024-07-10 11:30 | Report Abuse

Armada already missed on the expectation of acceptance test for ASV.
They also missed to deliver on the promise of contracts in the Caspian, where Greedy Gary went to find an excuse for NOT getting involved.

Posted by Penarak > 2024-07-10 13:35 | Report Abuse

UOB TP 0.50 is too low.In the near term,it will probably linger in the 0.575 -0.61 margins.

Posted by nikicheong > 2024-07-10 16:02 | Report Abuse

Back to reality!

Posted by nikicheong > 2024-07-10 18:28 | Report Abuse

Haiyoo rather than making stuppid announcements on Bursa, announce something substantive!

Posted by 696988 > 2024-07-10 20:55 | Report Abuse

At least they did clarification of news. Better than nothing

Posted by Penarak > 2024-07-10 21:56 | Report Abuse

Doesn't look like there is a deal happening anytime soon,since both are in denial 😬

Posted by 696988 > 2024-07-10 23:02 | Report Abuse

I will just hold for one more month see how going

Posted by Cockcroach > 2024-07-11 04:55 | Report Abuse

Exited all. Same rumour happened few years back.

Posted by TimCoke > 2024-07-11 08:59 | Report Abuse

Unable to deny means something happening, stay tune

Posted by nikicheong > 2024-07-11 09:55 | Report Abuse

Another opportunity lost. Some more, this is a gas FPSO closer to home. Bumi Armada has been trumpeting its "gas projects".

Gary is sleeping on the wheel and somebody gotta be waking him up!!!

https://www.upstreamonline.com/exclusive/two-contractors-in-battle-for-petronas-ultra-deepwater-fpso-project/2-1-1674744

Posted by Balian de Ibelin > 2024-07-11 10:39 | Report Abuse

Big shareholders still throwing all.

Posted by Robert Waters > 2024-07-11 10:44 | Report Abuse

Sleepy Gary reported that he has nothing to report. Now he will take a few weeks of rest thinking that anouncement of nothing is something to cover up his idleness.

Posted by leeabraham > 2024-07-11 12:34 | Report Abuse

should sell & move on ?

Posted by Heungheungloveyou > 2024-07-11 13:16 | Report Abuse

sell and move on

Posted by ITreeinvestor > 2024-07-11 16:01 | Report Abuse

https://www.upstreamonline.com/finance/acquisition-talks-reported-between-malaysian-fpso-players-but-no-material-development/2-1-1675120

Posted by gamble > 2024-07-11 16:08 | Report Abuse

everyone writing to make armada looks bad. run!

Posted by Gabriel Khoo > 2024-07-11 17:29 | Report Abuse

Bumi Armada is pleased to announce that the Armada Sterling V FPSO has completed the necessary acceptance tests and successfully achieved Final Acceptance effective 1 July 2024. The achievement of Final Acceptance signifies the commencement of the firm charter period for the Armada Sterling V FPSO.



As previously announced on 6 May 2019, the vessel charter is for a firm period of nine (9) years, with ONGC having the option to extend for an additional seven (7) years, on a yearly basis.

Posted by ITreeinvestor > 2024-07-11 17:33 | Report Abuse

Finally, final acceptance and new earning will kick in from Y24Q3 onwards

Posted by ITreeinvestor > 2024-07-11 17:35 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3463477

Posted by nikicheong > 2024-07-11 18:19 | Report Abuse

Something decent for once.

Still puzzling why it takes them 10 days to announce. If they practice good governance, they should announce as soon as something is finalised to minimise insider trading.

Posted by Gabriel Khoo > 2024-07-11 18:24 | Report Abuse

UOB analyst is against BAB.

Posted by nikicheong > 2024-07-11 18:46 | Report Abuse

One down. Small wins, one at a time.

Some announcements due in the 2nd half of the year:

1. Armada Sterling V full acceptance
2. Armada TGT charter extension
3. RM1.5bil corporate sukuk refinancing
4. Update on Akia PSC
5. Armada Kraken / Sterling II charter extension

Posted by raymondroy > 2024-07-11 20:33 | Report Abuse

UOB KH not so positive on the potential merger...
https://www.freemalaysiatoday.com/category/highlight/2024/07/11/merger-between-ananda-krishnans-bumi-armada-and-misc-a-bridge-too-far/

Posted by 696988 > 2024-07-11 20:57 | Report Abuse

Normal lah, they always not so positive.

Posted by marlboroman2 > 2024-07-11 21:26 | Report Abuse

https://www.shareinvestor.com.my/bc/downloads/uob_kayhian/BUMI_ARMADA_BERHAD(5210).pdf