That is great news. Thank you. Hope it can work out. Fingers crossed for the minority shareholders here.

Tomorrow will be an interesting day. Oil prices swing up and down ... time for Hibiscus 🌺 to show more vitality.

Well, we are back to normal price range. Volume dropped to almost zero.
Let us hope the trader will not attack any more.
Moves should occur normally by buying pressure.
No sudden share raids with re-posting them on resale at higher level immediately after transaction.

I only know Fred Flintstone from the tv cartoon. Let us meet Fred Tham.

Yes, good action on Alam this week.
But all this buying seems to be coming from one buyer .... a trader.
He purchases large volume instantly. But he will want to sell at 0.040.
But at new level there is NO BUYING PRESSURE WHATSOEVER.

I expect stock to go back soon.

Ordinary investors, like ants, drop small amounts, packet by packet at 0.035.
Only a few fake transactions of 100 shares at 0.040

Madura BD field, which was discovered in 1988 is located approximately 65 km East of Surabaya and 16 km South of Madura Island, contains reserves of 422 BCF (billion cubic feet) of natural gas and 18.7 MMBBL (million barrels) of condensate. The development project of Madura BD field is able to produce approximately 100 MMSCFD (million standard cubic feet per day) of gas and 6,000 BCPD (barrels condensate per day). The produced gas is transferred to the domestic contracted customers and the condensate is shipped by shuttle tankers to domestic users and regional users in South East Asia.

The project includes installation of a well-head platform (WHP) at a water depth of 55 meter; construction of a floating production, storage, and offloading (FPSO) vessel; construction of a gas metering station (GMS) onshore; installation of two flexible risers between the WHP and FPSO; and construction of a 52 km long pipeline to export gas to the GMS. Started in June 2015, the construction project of the FPSO, named Karapan Armada Sterling III (KAS III) was held in the shipyard of Keppel Offshore & Marine in Singapore. KAS III FPSO arrived at the location of BD field on 13 January 2017.

Gas and condensate produced from the BD field is transferred to and processed in FPSO KAS III, which is the world’s largest H2S processing offshore floating facility. It is equipped with topside facilities able to process 110 MMSCFD sales gas and 7500 BOPD condensate and recover 20 T of sulfur per day. Its operation is controlled from a control room. Maintenance activities are regularly carried out. It is provided with a health clinic and other supporting safety equipment. For personnel mobilization from FPSO to BD WHP, a lifting basket is used.

This is possibly much more profitable project than total Cameia.
FLNG is valued at least 2 x of a similar FPSO.
Green part is a bonus and an additional feather to the cap.
Wish I could buy more.

Should be much higher, but syndicate is collecting and keeping the lid on price, ready to dump extra shares.

FLNG is a complex and technologically sophisticated structure. They are usually designed and built new. Upgrading an LNG tanker is only suitable for smaller unit.
Normal size FLNG built on cheap, like the Coral FLNG for Mozambique is 3.5 bln dollar (US). It is successful with 26 offloadings achieved and pave the way for this methodology. Indonesia was contemplating FLNG from Japan (Abadi) in the past, but gave up on it after few years of planning.

This counter is Very Stable (little volatility) . Seems that syndicate is making money on the spread, rather than the swing. They keep 0.11 as the anchor and trade both sides of it.

It can materialize and can work as long as it is subsidized. Government credits have to be used.
There is no profit by extracting CO2 from turbine exhaust and putting it underground. So whether they put it underground or quietly release it to the atmosphere makes little difference.
Let the environmentalists and engineers work it out.

According to this MIT article, carbon capture is a scam. However, it is good publicity for Armada while there is naive public to support it.

https://cee.mit.edu/every-dollar-spent-on-this-climate-technology-is-a-waste/#:~:text=The%20technology%20called%20carbon%20capture,and%20pump%20them%20deep%20underground.

A bit more technical description in this article...
https://maritime-executive.com/article/bumi-armada-proposed-floating-unit-to-build-out-co2-storage-operations

ABS highlights the challenges in liquid carbon transport and storage noting that while there currently are over 100 gas carriers capable of carrying CO2, there are only a few pure LCO2 carriers in the world. While liquified CO2 is seen as the most promising state both for transport and injection for storage, ABS highlights it is also very challenging. ABS explains that because CO2 is carried at around -54.4 Celsius and 5.-7 bar pressure in a liquid state, one of the challenges is that it can rapidly move from the liquid state to the solid state when there is a drop in pressure. This they said can lead to the formation of dry ice, causing technical and safety challenges.

Another challenge for the transport is that LCO2 must be carried in cryogenic pressurized tanks. Current designs for the tanks are limited in size before the tanks become too heavy and too expensive, according to ABS.

Thank you A_Elder for letting me know.
Will do my dilligence on those stock with view to invest.

Anyone noticed that their website is NOT working ?
Is the company still functioning ?

www.alam-maritim.com.my

What happened on Aug 23 ? Lost half of its market cap. Yet no anouncement.

Latest I know is this article:
Scomi Energy pointed out that after delisting, it can still continue to operate its business in the form of a non-listed company entity and carry out a restructuring plan.

Very quiet here ...

Anyone knows if the company plans to come back through appeal or pay out investors when going private ?

MM, I noticed this part and it made no sense to me. Ullage is just extra space in tank, not used by liquid.
He probably meant to say that there is not enough redundancy meaning extra equipment on stand by.

All those studies they propose (root cause) will not make FPSO work better. Just a bunch of inexperienced graduates fresh out of school filling out reports and powerpoints with stuff they copy from manuals. They should focus on checking machinery and fixing faults by experienced technicians.

Looks good in general, but maybe the price got a bit ahead of the fundamentals. Can expect a small correction.
Maybe 20 sens ?

Things sure look up here. See for how long.
:-)
Normally after few days enthusiasm diminishes.

No, it was lower 10 years ago. I was surprised. But it recovered.

1 unit of brics dollar will be about 55 usd, or 1 gram of gold.

Earnings to be released today in aftermarket according to my broker ...
Brace yourselves.

5 years later bursa is still a disaster. Seems there is no progress whatsoever as long as I remember. Time to clean it up !!!

Gave up all recent gains alredy. Sad story.

Any reason for this rally ?
It seems like panic buying.
But once I saw it before, there was an announcement shortly afterwards.
After anouncement, stock was down.
Of course.

Yes, you are right, Calvin. But it will take time. Longer than we think.

Does not look like much of any profit here at all.

Fingers crossed for oil and hibiscus
🌺

Alam is a good stock. Hard working employees.
But it seems that mgmnt does NOT care about balancing books at all.
Need to change top guy.

Raymond is the star of IHH forum. REad blog with interest. But why success taken out ?

What happened today. Train wreck in slow motion. All due to crude oil price ?

I had an investment account there. Service was poor. Charges high.
May be still ok as investment ...

I agree. Common sense company here with good fundamentals.

Highly rated but maybe already all included in price you pay.

Not bad. But tell me when we reach RM 5.00.

Oil a bit down but things are still looking good. Hang in there.

As far as I know from original Bursa anouncement Kraken was restored to 100% of pre shut in production.

Wow, this is something !!! Great news ...

Twynstar, thanks for info.
I also have armada and investigated their co2 capture potential.
I see it only as PR material. No business value.
My personal opinion.

There is no way that hibiscus should take such high risk of carbon capture business. Leave CO2 for oil major who greenwash their business and pretend to be new energy type is right thing to do.

Sanusi's brother took many, many years to complete the bungalow. Do we really have many years to complete the project ?
On the positive note, this is hardly a surprise. There were many strange indications, starting with the fishnet excuse. Let us see what comes next. Insiders already offloaded. I expect price to go up now.

Amazing news. Many thanks to Niki.
Now, let us wait for updates from IB on their financial impact forcasts.
They will self congratulate themselves on mis-estimating the cost and raise targets from the day after tomorrow....

Hold off your sale that you may have in the queue.

Not possible to replace Kraken FPSO. It is mostly water lift and water injection systems with specialized modules for process of heavy oil with little gas. At the same time Kraken could not be used elsewhere without major modification. Better for all to keep it there.

What is going on here ... big volume ... no anouncement.
Going down !!!

In my opinion, reputation of BAB is already seriously diminished by:
* Armada Claire underperformace and legal loss
* Armada Kraken impairments and shut in
* Armada Sterling delay (client's fault)
They are probably considered for projects only at severe discounts in light of questionable reliability.
Fixing existing issues would help. And time will have to pass to establish credibility.
Greedy Gary has to prove the competency of the company or he will be trapped with his 30+ mln subsidized shares.
He made the decision to forego Cameia project planning for long term, I hope.
Easy way out would be to get project, create publicity, sell out.

Good point about Sterling V being client's fault. Also Armada Claire may be caused by Woodside abusing contract clause where there was NO serious underperfomance. And Kraken delay was caused by unpredictable difficulties .... emulsions, water injection issues, etc. Agreed. But in the end it is not helping us, investors. And I cannot think of Yinson having such issues while handling more projects than armada.
______
Armada Sterling V delay is client's fault not Armada`s.

I agree with Greedy Gary on this one. Can't make a profit, then sit tight. Better fix the HSP Transformers and get the first oil at Armada Sterling V. No need to get involved in another disaster.

Well, 8 months later the stock did not go anywhere. Let us wait for CPU to appreciate.