ARMADA (5210) - BUMI ARMADA BERHAD IPO Prospectus

Reviews from Glassdoor

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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.

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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

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1 week ago

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.

1 week ago

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.

1 week ago

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

1 week ago

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.

1 week ago

73c - fair

1 week ago

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.

1 week ago

Collect at 0.59 before it is too late?

1 week ago

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

1 week ago

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.

1 week ago

Indeed Mr Waters!

1 week ago

do it before its too late ha

1 week ago

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

1 week ago

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.

1 week ago

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.

1 week ago

Wow, div may be paying out this time, perhaps

6 days ago

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.

5 days ago

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

5 days ago

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

5 days ago

Big week up ahead!

3 days ago

ITreeinvestor

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

3 days ago

just sit and enjoy the future cashflow.

3 days ago

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

3 days ago

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

3 days ago

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.

3 days ago

chankahmun77

Was Armada the fore-runner of ONGC project?

3 days ago

chankahmun77

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?

3 days ago

chankahmun77

trying to learn from the sifu(s) here.

3 days ago

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.

3 days ago

and no dividend in sight.

3 days ago

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

2 days ago

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.

2 days ago

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

2 days ago

Anybody find any other interesting nuggets, please share

2 days ago

Bab did not reach a final agreement on the cameia fpso contract despite being chosen as the preferred bidder
Disappointed but prudent not to move forward on the project because costs and risks were high and potential returns low

I think is a good move

2 days ago

Opportunities in 2024 are excellent. Multiple fpso projects are available but we prudent and projects need strong commercial fundamental.

True.

2 days ago

Iccsc membership for indo ccs market

2 days ago

I just returned from a regasification terminal where I spent 2 months this year. This terminal is now installing a liquefaction train. There are many such conversion projects in the USA. Bumi Armada seem to be out of sync with the times. There is much more profit to be made on the liquefaction side of things. Little point of expanding regasification which is very simple - just a tank and a vaporizer that can be done by air and sun (it is a big column with many fins that collect heat without any power needed).
LNG project would be viable on the client side of value chain as demand is high, not sure about upstream part as installation may be pricey.

2 days ago

Fat paypacket and promises

1 day ago

Uniper's Grain Power Plant FCSIU is incoming. It's in the annual report. Not sure when though, could still be year(s) away.

1 day ago

Nik. What would be the contract value for this type oF PROJECT

1 day ago