BUMI ARMADA BERHAD

KLSE (MYR): ARMADA (5210)

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Last Price

0.485

Today's Change

-0.01 (2.02%)

Day's Change

0.485 - 0.49

Trading Volume

9,348,000

Price Target

A price target is an analyst's projection of a share's future price. 

Average Target Price, Price Call and Upside/Downside here are derived from Price Targets in the past 6 months.

Last Price

0.485

Avg Target Price

0.68

Upside/Downside

+0.195 (40.21%)

Price Call

0

SELL

1

HOLD

32

BUY

Date Open Price Target Price Upside/Downside Price Call Firm View Action
Discussions
40 people like this. Showing 50 of 66,015 comments

MoneyMakers

Nice oil going strong - midweek abit oil scare (china/guangzhou lockdown) but strong rally after china announce loosen covid policy

Nxt week target blow past 44sen (Sept high) - if lucky can touch 46.5sen (Jun high)

Never doubt oil this yr-end (EU oil ban Dec 5)

3 weeks ago

ITreeinvestor

expected higher profit in coming quaters.............

Mr Targett responded to further queries from the shareholders as follows:-
(a) Foreign currency effect on the Company’s business - 85% of the Company’s revenue was denominated in USD. Generally, if the USD strengthens, BAB net profit would strengthen.

3 weeks ago

Robert Waters

More and more coverage about armada sterling v ...

.....
The Indian giant has made multiple awards for the Cluster-2 development of KG-DWN-98/2 including integrated subsea facilities, a floating production storage and offloading unit (FPSO), a central processing platform plus living quarters and a sizeable onshore terminal.

McDermott, along with Baker Hughes and India’s Larsen & Toubro, was awarded a $1.69 billion integrated subsea contract by ONGC in October 2018 for work on the KG-DWN-98/2 asset.

A separate contract for the project’s CPP plus living quarters facility was awarded to a joint venture of India’s Afcons with Malaysia’s Sapura Energy.

While most of the key facilities for the Cluster-2 project are said to be back on track after Covid-related delays, the CPP is understood to be several months behind schedule, due to Sapura’s financial woes.

Armada Sterling V, the FPSO for the KG-DWN-98/2 project built by Sembcorp Marine in Singapore, is preparing to sail away within weeks, Upstream reported on 4 November.

The floater is jointly owned by a pairing of Shapoorji Pallonji Oil & Gas (SP Oil & Gas) and Malaysia’s Bumi Armada. The Indian player holds a 70% stake in the FPSO, while Bumi has the remaining 30%.

3 weeks ago

yangkwang99

CAUTION! MQ TRADING SIGNALS SELL!

2 weeks ago

soon9913

see MISC profit !!!! this counter got potential to at least 0.5

2 weeks ago

chonghai

How much profit Armada derive from Kraken every quarter ?
How much profit would Armada be able to derive from Armada Sterling V every quarter once operational ?

2 weeks ago

Macgyver111

Parliament hung, don't know what going to happen to bursa today..adoi

2 weeks ago

nikicheong

Armada Sterling V has left the port!!! She is sailing to the Kakinada field as we speak.

2 weeks ago

zonefinder

Should be announcing Q3 anytime now

2 weeks ago

nikicheong

Results usually announced Friday afternoon. So I expect it latest by this coming Friday.

2 weeks ago

hng33

soon

2 weeks ago

nikicheong

Solid set of results. Will comment further once I've gone through it.

1 week ago

nikicheong

It appears that there are the following one-off to consider. The Q3 results are actually much better once you factor these in.

1) Net allowance for impairment: RM4.5m
2) Reduction in residual vessels (fully owned): RM25.9m
3) Reduction in residual vessels (JV and associates): RM45.1m

1 week ago

nikicheong

Net Profit to Shareholders: RMRM149.7m

Adjustments:
Net allowance for impairment: +RM4.5m
Reduction in residual vessels (fully owned): +RM25.9m
Reduction in residual vessels (JV and associates): +RM45.1m
Unrealised FX Gain: -RM8.2m

Adjusted Core Net Profit: RM217.0m

1 week ago

kahfui1221

Announcing Bumi Armada Bhd's third quarter financial performance, CEO Gary Christensen says the group will continue to pursue new projects amid the higher energy prices.

"It was pleasing that during the quarter we successfully conducted the planned process shutdowns of two of our vessels in a safe and efficient manner and restarted ahead of plan.

1 week ago

kahfui1221

It said cash generation remained strong with net operating cash flow of RM512.2mil, which enabled it to repay almost US$74.8mil of debt during the quarter.

It added that the future firm orderbook as at end-September 2022 stood at RM13bil with additional optional extensions of up to RM9.9bil.

Year-to-date, Bumi Armada recorded a net profit of RM521.73mil, up from RM456.07mil in 3Q21 while revenue rose to RM1.8bil from RM1.65bil.

1 week ago

ITreeinvestor

Dun forget that no more Kraken & TGT shutdown for maintenance in next quarters.

Adjustments:
Net allowance for impairment: +RM4.5m
Reduction in residual vessels (fully owned): +RM25.9m
Reduction in residual vessels (JV and associates): +RM45.1m
Unrealised FX Gain: -RM8.2m

Adjusted Core Net Profit: RM217.0m

1 week ago

zonefinder

Lets see how the market will react towards this set of solid results. Of importance is the continual reduction in net borrowings and future earning potential.

1 week ago

hng33

sold armanda at 43.5sen, took profit first

1 week ago

hng33

sold off balance armanda at 44sen

1 week ago

nikicheong

Guys, please share the PDFs of research reports as you have them.

1 week ago

Macgyver111

Malaysian offshore vessel provider Bumi Armada has selected OPEX artificial intelligence technology to reduce carbon emissions on an FPSO facility located in the North Sea.


Source: Bumi Armada
OPEX Group’s emissions.AI software will be deployed on the Armada Kraken FPSO facility, which serves the EnQuest-operated Kraken Field located in the northern North Sea.

According to Bumi Armada, the technology will deliver real-time emissions data, insights and intelligence, identifying key opportunities to reduce emissions from the facility, and will also support with implementing solutions and cost-saving strategies.

“While we have already successfully achieved continued emissions reduction, we are dedicated to evolving our operations globally to ensure we integrate sustainability into daily operations,” said David Clark, SVP of Operations from Bumi Armada.

“Adopting this technology is a big step towards utilising the power of data to better understand how our plant is being operated and where there are opportunities for improvement across our projects and operations.”

The Armada Kraken FPSO is a converted Suezmax tanker and has a nameplate production capacity of 80,000b per day, a storage capacity of more than 600,000 barrels, and is able to handle 460,000 barrels per day of fluids.

1 week ago

Macgyver111

KUALA LUMPUR (Nov 25): CGS-CIMB Securities has maintained its “Add” rating on Bumi Armada Bhd (BAB) at 44 sen with a higher target price (TP) of 57 sen and said BAB’s 9M22 core net profit outperformed at 92% of house previous FY22F forecast (79% of consensus), due to pre-FEED profits in 2Q22 and 3Q22.

In a note on Thursday (Nov 24), the research house said that next year, BAB can also look forward to being potentially awarded TotalEnergies’ FPSO Cameia EPCC project, as BAB is in pole position to win the contract, citing industry newspaper Upstream.

CGS-CIMB said this is a potential rerating catalyst.

“BAB will not own the asset, hence the risk of a rights issue is minimal, in our view.

“Downside risks include a potential rights issue should BAB win a separate large FPSO project on a build-own-lease basis.

“Reiterate Add with higher SOP-based TP of 57 sen by rolling forward to end-CY23F, partially offset by a higher risk-free rate of 4.5% (from 4% previously),” it said.

1 week ago

ITreeinvestor

Y23Q1 another additional profit coming in.

30%-owned Armada Sterling V (the remaining 70% owned by Oil and Natural Gas Corporation) has sailed away in early November this year and is expected to arrive in the east coast of Kakinada, offshore India by the end of 2022. This paves the path for maiden earnings contributions from the vessel from 1QFY23 onwards.

1 week ago

nikicheong

Anybody got the updates from UOB, RHB etc?

1 week ago

OrlandoOilSemiconIoT

Reduction in residual vessels (fully owned): RM25.9m


Reduction in residual vessels (JV and associates): RM45.1m

Where do these come from?

After so many rounds...

Anymore in the closet?



Making people uneasy... reasons for low PE

1 week ago

OrlandoOilSemiconIoT

Tot market conditions have since improved a lot?

High inflation not pushing up cost of new vessels?

1 week ago

Robert Waters

From RHB

https://research.rhbtradesmart.com/view-file/hash/9176018973516544637f9b1f23d9f?NO_CACHE=fbdbc7150cfe2ecbc71c62ed0e9c7182

25 November 2022 Energy & Petrochemicals | Offshore & Marine
Bumi Armada (BAB MK) Another Solid Quarter; Keep BUY
Buy (Maintained)
Target Price (Return): MYR0.61 (+39%)
Price (Market Cap): MYR0.44 (USD579m) ESG score: 2.90 (out of 4)
Avg Daily Turnover (MYR/USD) 4.81m/1.05m
Analyst Sean Lim, CFA +603 9280 8867 sean.lim@rhbgroup.com
Share Performance (%)

Keep BUY, with new SOP-based MYR0.61 TP from MYR0.59, 39% upside. Bumi Armada’s 9M22 results surpassed our expectations, with core profit surging 16% YoY on better Kraken availability, lower depreciation and finance costs. The group is still actively bidding for new
projects while Armada Sterling V has sailed away from the yard. BAB remains our sector Top Pick for its undemanding valuation (3.5x FY23F P/E) and strengthening balance sheet, led by stable FPSO operations and continuous asset monetisation.

1 week ago

success2628

Follow hng33 to sold armanda at 45.5sen, also took profit first…

1 week ago

success2628

Will follow hng33 to buy back Armada shares later…

1 week ago

zonefinder

Counter is gathering strength...

6 days ago

MoneyMakers

Ding3 46.5sen (Jun high) unlocked

Nxt target 50sen..never doubt Armada/oil this yr end

6 days ago

zonefinder

Might break 50sen today...

5 days ago

nikicheong

Wonder if the movement today is:

1) Speculative play - trading driven
2) Fund accumulation - value driven
3) Insider play - inside information driven

5 days ago

zonefinder

Its fundamentals point towards it being grossly undervalued.

5 days ago

MM78

Time for market to realize Armada is a steal at such low PE with strong cash flow cutting down its debt so swiftly under its new leadership?

5 days ago

MM78

Any risk of Ananda may take it private one day if the big sharks continue to press it down to accumulate for a long time ?

5 days ago

zonefinder

Waiting for the TotalENergies FPSO catalyst to bring this over 60sen

5 days ago

Macgyver111

Despite concerns over China's zero-COVID policy and global recession fears, Goldman Sachs expects Brent crude oil prices to hit $110 a barrel next year.

Jeff Currie, global head of commodities at the investment bank, said Tuesday that the oil outlook in 2023 remains "very positive."

He told CNBC in an interview that Goldman plans to "stick to our guns" with a forecast for $110-a-barrel Brent. That represents more than 30% upside from the current level of around $83.

Still, there's "a lot of uncertainty" ahead, Currie noted, including the potential for lower demand in China, recession fears, and the European Union's embargo next week on seaborne imports of Russian oil.

"Demand is probably heading south again in China given what's going on," he said. "I think the key point with China right now is the risk that you get a forced reopening. That means it'll be self-imposed lockdowns where people don't want to get on trains, don't want to get to work and demand goes further south."

Meanwhile, OPEC+ will convene in Vienna on Sunday, and Currie said there is a high probability that the cartel will further reduce its oil production quotas, putting upward pressure on prices.

https://markets.businessinsider.com/news/commodities/oil-price-outlook-2023-goldman-sachs-crude-110-opec-china-2022-11

5 days ago

TeamRocket

miss the boat, nvm, wait for nxt round at 0.35, selling at 0.55

5 days ago

Macgyver11

Boleh dapat 0.60c kah next week?

5 days ago

HuatlaiOnglai

Solid fundamental with potential securing new projects. Anything higher is possible.

5 days ago

goldmans

Collect now n keep until dis 2022.......2023 boommmmmnnnn....

2 days ago

OrlandoOilSemiconIoT


If still in doubt.....

Take Armada winning new FPSO contract as it has built up its financial muscles that can impress

Vote of confidence from demanding 3rd parties

2 days ago

Zkhan86

@nikicheong..you didnt share your debt table and time series analysis for this quarter..that has helped alot previously to observe the debt pattern.. hope you can share for this quarter as well..Thanks!!

2 days ago

Macgyver11

Very long time never see comments from Mabel the cat...very busy ka dia di blog sapura...kikiki

1 day ago

Macgyver11

Oil prices may hit $110 a barrel in 2023 but Russia risk could 'turbocharge' them even higher, BofA says
Brian Evans
Oil tanker
Suriyapong Thongsawang
Brent crude could climb as high as $110 per barrel in 2023, according to Bank of America.
Analysts wrote in a note on Thursday that a price cap on Russian oil remains an upside risk.
The note outlines other key risks, including OPEC members like Iraq and Libya.
Brent crude oil could climb as high as $110 per barrel in 2023, though there are several risks that could add more more pressure on prices, according to a note from Bank of America.

Prices for the international oil benchmark averaged around $101 per barrel this year, and BofA sees more of the same next year, predicting an average of $100 and a peak of $110 at the height of the driving season. Brent will generally be lower in the first quarter of 2023, compared to the rest of the year, analysts added.

Brent currently trades around $86 per barrel, meaning the high end of BofA's forecast represents an increase of 28%.

But BofA analysts also noted several upside risk factors for oil prices next year, namely a price cap on Russian crude.

On Friday, European Union officials agreed to set the cap at $60 per barrel. That will take effect on Monday, alongside a ban on Russian oil imports into the EU and related services for cargoes worldwide. Russia has said it won't sell oil to any price-cap participants, and analysts have estimated its oil exports could fall by up to 1 million barrels per day.

"At present, we embed Russian total oil production levels of 10 mn b/d in our assumptions for 2023 compared to the 9.59 mn b/d figure provided by the IEA. Any meaningful downward deviation from these figures could turbocharge oil prices higher," the BofA note said.

Russia presents the largest upside risk to oil prices, but there are other risks lurking as well, analysts said. In particular, further supply disruptions from OPEC producers like Libya, Nigeria, Iraq or others could "put the oil market on notice."

A shortfall of 1 million barrels a day or more could come from a number of producers, especially from OPEC, with BofA estimating that every unexpected swing in supply or demand of 1 million barrels tends to move Brent oil prices by $20-$25 per barrel.

1 day ago

MoneyMakers

Welcome to Dec 5 - EU oil ban!!!

Congrats to all Armada believers..keep the faith

P/s: ding3 50sen range unlocked..final resistance @ 52sen

1 day ago

KimSua

Oil price lowest this year. Below 80 for brent and 75 for WTI. US will starts release 15 million in Dec from their strategic reserves. The plan is to refill the reserves around USD 70 price for WTI. This was the midterm reelection plan for democrats to ease the inflation. Since winning midterm, still control the senate , democrats expected worst results. Moving forward they have to ensure the reserve has to be replenish at a consistent rate in 2023. WTI should go above USD 70. Mixed reaction from oil analyst. I still think it will be bullish in 2023 once China really reopens. Expect some profit taking on BAB , short term.

6 hours ago

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