KLSE (MYR): ARMADA (5210)
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Last Price
0.57
Today's Change
+0.005 (0.88%)
Day's Change
0.565 - 0.575
Trading Volume
16,151,200
Ann. Date | Date | Type | Name | Title | View |
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KUALA LUMPUR (March 19): Phillip Capital has initiated coverage on Bumi Armada Bhd (BAB) with a “buy” rating at 56 sen with a target price of 80 sen and said BAB is well-positioned to capitalise on the growing demand for floating production storage and offloading (FPSO), supported by its stronger balance sheet amid the increasing global oil and gas capital expenditure (capex) spending.
In a note on Tuesday, the research house said it expects 2024 to deliver a record-high profit driven by the full contribution of FPSO Sterling V and the normalisation of FPSO Kraken operations.
“We see multiple re-rating catalysts on the horizon, including 1) FPSO Sterling V securing final acceptance and recognising the full bareboat charter (BBC) rates, 2) FPSO TGT-1 securing 7-year charter extension, 3) both pipelay vessels securing new contracts and 4) potential new FPSO contracts win.
“Key risks include any unforeseen operational delays in existing FPSOs and securing final acceptance for Sterling V, and sharp global oil price decline affecting the global capex spending,” it said.
1 week ago
Technical Charts looks good. Niki well done in going all in. if can breach 57 firmly, next few days is uptrend.
1 week ago
I've been expecting for an FSRU announcement, but I've been waiting since Dec 2023 and there's been nothing.
Bumi Armada is shooting many places but no kills. The worse was the debacle with the Cameia FPSO. Truly a black mark on Bumi Armada's reputation and shows the loss of confidence of large players in the company's capabilities.
1 week ago
couldn't hold the 57.... but still OK and on uptrend... just slower uptrend. another day tomorrow.
1 week ago
Nothing new, such a long report that simply regurgitates what's already known. What an easy life!
1 week ago
Assuming BAB trade at a similar PE to Yinson, our implied target price would be RM1.13
1 week ago
@ITreeinvestor, that's a foolish assumption for the current situation. Yinson trades at a premium for a very simple reason, they have massive FPSOs yet to come onstream and they have been actively diversifying into the green energy space.
Bumi Armada has no concrete plans or projects to look forward to. That's the sad reality.
1 week ago
It looks good so far.. stayed well above 57 even when the market was bad. waiting to break out if there are no surprises in the market..
1 week ago
Bumi Armada has been shunned as a top-tier FPSO player: https://eco-cdn.iqpc.com/eco/files/event_content/fpso-contractors-guidebook-caa-22-janDmzZ3JGR6JDxLQ0dpub99NUDJClJfTSSxGttXTmt.pdf
1 week ago
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6 days ago
The next qtrly report would be decisive if I am to hold or sell as there are other stocks that would provide a better return unless AK himself takes it private at a premium. Unlike Yinson, Armada has a declining FCF going forward and there appears to be nothing tangible in the near future.
6 days ago
If BAB can get 1 Big and 1 small projects. I think CIMB will give a good TP and lower the Beta from 1.5x also will translate to high TP.
4 days ago
India`s project better avoid. The project timeline keep moving forward. 🤣🤣
Sapura Energy also a victim of ONCG.
4 days ago
need to close min 58 today.. or else we still stuck at resistance.. once above 58.5 surely will break 60 and go to 63 to 65...
3 days ago
Aiyo Ninja_07 it drop or go up by 1 sen or 0.5 sen also no need ask if something happening lah. If daily change is 5 sen or more, then maybe ask such questions.
1 day ago
The impairment tests for TGT and CNV assume that production ceases in 2029 and 2030 respectively, assuming the licences are extended by at least three years reflecting past practice and a commercial assessment (and consistent with the reserves estimates independently audited by RISC Advisory Pty Ltd.) that it is highly probable given the economic circumstances and current discussions. The current negotiations over terms are for a longer duration than that assumed and would be expected to improve the value in use calculated.
https://www.londonstockexchange.com/news-article/PHAR/2023-preliminary-results/16396775
1 day ago
Gabriel, what do you mean?
They are seeking a 5-year license extension for TGT (from 2026 to 2031). Prior to this, they already received a 2-year extension (from 2024 to 2026). The FPSO charter is only until 2024. At the very least, it will be extended 2 years, but more likely up to 2031. The Vietnamese authorities have already approved the Revised Field Development Plan (RFDP) till 2031, all that remains now is the approval of the license extension.
At the same time, the TGT operators have secured the drilling rig to drill 2 wells in H2 2024.
10 hours ago
Bluestreak CO2 Limited ("Bluestreak")
Bluestreak is a 50% joint venture between the Company and Bumi Armada, one of the world’s largest floating infrastructure operators. The joint venture aims to provide an end-to-end solution for carbon emitters to capture, transport, sequester and store their carbon dioxide emissions in line initially with the United Kingdom’s Industrial Decarbonisation Strategy. It is anticipated that the Bluestreak joint venture will design and implement a value chain of shuttle tankers delivering to a floating carbon storage and injection unit. The complete value chain is expected to safely and reliably transport and provide buffer storage of liquid carbon dioxide. The Bluestreak joint venture is subject to the execution of definitive documentation, approvals by the respective boards of directors of the Company and Bumi Armada, applicable regularly approvals and other customary closing conditions. We disclose our proportionate share of profits and losses from equity method unconsolidated affiliates in the statement of operations and adjust the carrying amount of our equity method investments on the balance sheet accordingly.
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Taken from the Navigator Gas annual report. Still nothing substantive. I will be cautiously optimistic at best about the potential success of this joint-venture.
https://navigatorgas.com/wp-content/uploads/2024/03/Navigator-Gas-2023-Form-20-F.pdf
10 hours ago
From my research, Bluestreak CO2 was banking on the Grain Power Station in the UK to be its first client. However, Grain Power Station has chosen a different design and is no longer working with Bluestreak CO2. I am unsure at this moment if they even have any other potential client they're working with.
10 hours ago
nikicheong
They have confirmed it was an error. I emailed them about it.
1 week ago