Copy and paste from HLG report, the TP price 0.87 was calculated based on PE 6.0X, imagine if market revalue this stock at PE 15X, nothing is impossible:

Bumi Armada - Ending the Year FY22 With a Bang

Armada posted a record-high quarter in 4Q22 with a core net profit of RM222.7m (+7% QoQ, +69% YoY), bringing FY22 core earnings to RM827.9m (+26% YoY). The results came in within our expectations (101%) but beat consensus (107%). We see a vast improvement in its balance sheet with the following highlights: (i) lower net debt of RM4.7bn as at end-4Q22 (from RM5.3bn as at end-3Q22); and (ii) net gearing has declined for the 11th consecutive quarter to 0.9x as at end- 4Q22 from a peak of 2.9x in 1Q20. We maintain our BUY rating with a relatively unchanged TP of RM0.87/share – pegged to a P/E multiple of 6x on revised FY23f earnings, which is at a 40% discount to its peer Yinson’s one -year forward multiple of 10x.

Armada is our top pick for the O&G sector.

Just follow MYEG limit down pattern you should know where and when to pick up.

MYEG was double punched, this Velesto just one slap on the face.

Can't push up then IB choose to push down. Collect more tickets and from the bottom.

The outlook still OK, can continue goreng up with the same story line.

Ikan ikan billis all kena cuci bersih.

Yinson expending too fast. If one of the key project run into problem, the company will be in big problem.

Cannot say Armada is a sunset company. Armada have contracts enough to generating cash for many years. Armada also actively bidding for new opportunities but now she is more selective and more careful on capex.

Anyway new contract award is already in the pipeline. Let's see how market react to it.

Armada financial performance is far more better than Yinson.

Armada generated 1.3 billion cash from operation but Yinson negative cash flow.

Armada profit and revenue is far more impressive than Yinson.

Yinson`s debt 10 billion , Armada just 5 billion.

I don't know why Yinson valuated at PE 17x while Armada is less than PE 5x.

I feel build-own-lease business model the risk to the company is too high. Just like Armada Claire after built the client can just cancel contract anytime without any penalty. Now idle there burning maintenance cost.

Maybe a JV model with the client is a better option. Both own parties the risk and enjoy the profits sharing.

If this other comprehensive lost can be ignored. What the market so panic. Tomorrow I going to buy more.

Other comprehensive lost of RM141 million. Is a lost but not yet realized. Could be the reason for today`s sell down.

The 26 million lost is unexpected but not a big deal.

Is the Foreign currency translation RM 141 million negative something we need to worry?

All freakout because of Pharmaniaga. Different case.

0.185 is a good price to re-enter. The fundamental no change but even better next quater, this is not Pharmaniaga.

Just 26 million lost , that consider normal for Velesto. The outlook still solid .

Only high day rate they able to report profit. The higher day rate is coming next quarter. Just pick up when it drop further.

Hahaha really dramatic QR result. Adjustment is unavoidable.

Hope able to collect back some tickets at lower price.

Full build-own-lease model may require project funding via the rights issue. The risk is high but higher rewards.

The Armada Kraken delay and Armada Claire termination almost caused BA file for bankruptcy in 2019. Better play safe now.

OK dun pun emotions in the discussion. Let the time telling us the truth.

A company that fully recovered from the storm, trying hard to minimize the debts, generated billion cash last year and hit record profit this year. I believe the market will give a fair value for Armada within the next 6 months. I'm talking about PE 15X.

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Hahaha someone's balls knocking each other now.

FPSO market leader SBM offshore building 6 FPSO at once. Give one new FPSO to Armada is good enough to send the price above 0.80.

https://www.upstreamonline.com/finance/building-six-large-fpsos-all-at-once-is-no-small-task-even-for-market-leader-sbm-offshore/2-1-1408676

To the moon !

Coming soon PE 15x.

correction is US$75 million (RM314 million) financing aid.

Uncle! when your age getting old you starting to worry about this worry about that.
Share market is a dangerous place for you Uncle! You better put all your money in FD.

Look at the management team's effort in Armada in the past few years, the turnaround from a company almost bankrupted to a profitable company now.

Don't forget AK saved the company from bankruptcy in 2019 with his personal loan to Armada almost RM 2 billion. How many listed company big bosses have did the same to rescue a company? Tony Fernandes?

He has the rights to privatize this company, he deserves it! I'm willing to sell back my shares to him, if he make this call!

This quarter confirm better than last one. Next quarter confirm better than this quarter. No need to worry.

Wow net gearing below 1.0.
Is 0.92 now!!!

Thanks Niki for the great summary!

This is the record profit since Armada was listed!

Congratulations to all Armada strong supporters!

Don't bang your balls, just re enter. The outlook is so optimistic why pancuk so early? Sell it when the situation turned bad ma.

Ignore thus old man keep worry about global oil price. It drop below USD 70 baru kita jual lah. Worry this worry that put money in FD better.

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Uncle today got pumping?

Tmrw show time!

Armada price really impacted by the deffer of Kraken drilling decision. Let's see this QR result and determine the next action.

Which bank stock that give you 200% gain over the last 6 months? Velesto has gained over 200% last 6 months.

Don't tell me long term, we all know Velesto is a goreng stock. You have to know when to go in and when to cabut. Jangan sangkut dalam.

This Maybank analyst is crazy. Sell at the Rigs then do what? Give the engineers VSS? This is the core business of the company.

Sell 1 or 2 diversify to another business maybe more reasonable.

Fuyoh dare to dream about RM4 per share. I`m realistic person, RM 0.40 I'm very happy already.

This week let you win lah Uncle. Next week I will be posting syndicates pumping messages here.

Perdana Petroleum just reported record profit since 2014. Now is a cyclically climax for Oil and Gas service industry. Just like Glove stocks and technology stocks during Covid period.

Uncle forget your syndicate and global oil price story, ride on the boat. This is once in a decade ride, don't miss the boat and don't forget to leave the boat at the right timing.

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Eh Uncle! Today volume so low, just about 10 million shares traded. Value about 6 million. Dump apa? You should consider grab some this week. Next week it going to fly.

More good news coming.

1. QR result cantik cantik.
2. New contract awards coming.
3. Daily charter rate going up.

You think the share price will go down? Don't cabut too early, wait for the climax!

The industry charter rate for an 80,000 barrels FPSO (Floating Production Storage and Offloading) vessel can vary depending on a number of factors such as location, contract duration, project complexity, and market conditions. However, as of my knowledge cutoff date of September 2021, industry estimates suggested charter rates in the range of $80,000 to $150,000 per day for FPSOs with a production capacity of 80,000 barrels per day. It's important to note that these rates are subject to change and may vary based on the factors mentioned above. This is ChatGPT`s answer.

The Cameia FPSO (Floating Production Storage and Offloading) vessel is owned by Eni and operates in Block 15/06 offshore Angola. The FPSO has a storage capacity of 2 million barrels of oil and a processing capacity of 115,000 barrels of oil per day and 100 million standard cubic feet of gas per day. The target production for the Cameia field is around 80,000 barrels of oil per day

One Cameia FPSO project win cukup makan already. Enough to push the share price beyond 0.80. Don't think too much and don't be greedy. Steady BOM BI BI OK!

Uncle! Armada steady bom bi bi!

PNB sold 16 million shares just a small portion of peanut s among PNB`s total 600 millions peanuts. Nothing to worry.

Datuk Ling bought RM0.153 per share on 28th Dec, Feb only make announcement. Celaka dia already making a lot of profits. He knew it going to North.

Pasti and Mantap!

Or Joint venture type.

Last year AGM the MD or CEO said moving forward Bumi Armada will bid for EPCC type of FPSO contracts. Meaning the FPSO project will be the oil company`s CAPEX. This will reduce the company risk and financial burden but the rewards is much lower than current business model. High risk high return, low risk low return.

Uncle and Auntie, Brent oil price trade above USD 86 !

Quater report in next 2 weeks time and new FPSO contract award announcement soon. Pump and dump or dump and pump, no problem at all because the price trend is moving to the moon! To the Moon!

Adjustment after a long rally is normal lah uncle. Nothing to worry. Now back to 0.60. Fundamental still solid and still undervalued, so nothing to worry.