Oh noooo...

Oh no...

https://oilprice.com/Energy/Energy-General/Supply-Disruptions-Drive-Bullish-Sentiment-In-Oil-Markets.html

https://oilprice.com/Energy/Energy-General/Supply-Disruptions-Drive-Bullish-Sentiment-In-Oil-Markets.html

Chances to win Angola contract is 50:50. Yinsoon also bidding for the same contract.

Who will get this Angola project?
Bumi Armada or Yinson?
Hopefully Bumi....



nikicheong

Armada Angola job win announcement is due soon. Share price weakness is unprecedented. I topped up at 0.41, no bullets left now.

Hari2 turun sahaja tak ada naik...aiyoyooo!

Aiyo! So many good comments from IB also can drop to 0.38c

Mampusss! Ni mcm

What happen to their woodside Appeal court case against the supreme court decision?
Can anyone update....

LOOKING at the top 100 Bursa Malaysia-listed companies by market capitalisation, excluding banks, there were more companies that saw a decline in their net cash position or an increase in debt over the past year, compared with those that saw an improvement.

According to Bloomberg data, 52 companies saw a decline in their cash position between the end of the first quarter of 2021 and the end of the first quarter of 2022 — a comparison between conditions at the peak of the pandemic last year and as the country transitions to endemicity.

Tenaga Nasional Bhd saw the biggest deterioration in its cash position among the 52 decliners, with a RM17.5 billion increase in its net debt level to RM79.59 billion from RM62.08 billion.

Notably, property developers were also among the top decliners, led by IOI Properties Group Bhd, which recorded a RM4.88 billion increase in net debt, followed by Kuala Lumpur Kepong Bhd (RM4.34 billion increase in net debt) and Batu Kawan Bhd (RM4.2 billion increase in net debt).

Three of the big four rubber glove makers saw dips in their cash position.

Top Glove Corp Bhd saw its net cash position drop 78% from RM4.04 billion at the end of its first quarter of 2021 to RM879.7 million a year later, while Supermax Corp Bhd’s net cash level fell 25% to RM2.76 billion from RM3.68 billion. Hartalega Holdings Bhd’s net cash position saw a more moderate decline than that of its peers, down 8% to RM2.13 billion from RM2.32 billion.

Kossan Rubber Industries Bhd was the sole glove manufacturer among the big four to report a higher net cash position at RM2.33 billion, from RM753 million a year earlier.

Other notable companies among the top decliners include Axiata Group Bhd (net debt position increased RM2.64 billion), Genting Bhd (net debt position up RM2.57 billion), Malayan Cement Bhd (net debt position increased RM2.52 billion) and Capital A Bhd (net debt position up RM2.41 billion).

At the other end of the spectrum, Petronas Chemicals Group Bhd saw the largest improvement in its net cash position by value, rising RM2.4 billion year on year (y-o-y) to RM12.52 billion.

Other oil and gas players saw better debt positions. Bumi Armada Bhd reported a RM1.41 billion decline in net debt, UMW Holdings Bhd saw a RM404.5 million increase in its net cash position to RM988.2 million and Dagang NeXchange Bhd posted a RM398.9 million increase to its net cash level to RM422.8 million.

Semiconductor group Inari Amertron also reported a higher net cash of RM2.33 billion from RM753.6 million. Technology peer Greatech Technology Bhd saw its net cash grow 74% y-o-y, while D&O Green Technologies went into a net cash position of RM19.5 million, from net debt a year earlier.

Planters generally saw improvements in their debt levels, including Genting Plantations Bhd (net debt down RM955 million), Sime Darby Plantation Bhd (net debt lower at RM763 million) and Sarawak Oil Palms Bhd (now in a net cash position of RM382.2 million from a net debt of RM178.2 million).

Several telecommunications companies also saw improvements in their net debt levels over the past year, including Telekom Malaysia (net debt level down RM556.9 million) and Digi.Com Bhd (net debt level declined to RM307.6 million)

Aiyoo pochii!

Oil up Armada up 0.01c sje. Oil drop Armada drop 0.04c...mcm mana ni

Back to square one....

Multiple wrong...

Aiya! Uncle AK kasi naik ni stock. Jgn bikin ni mcm sama lupunya royal investors....

Many stuck above 0.50...bleeding man.

After the excellent qtr...unbelievable.

Shit! All the way down again...

nikicheong

TP Update:

Maybank RM0.58 (no change)
CGS-CIMB RM0.45 (from RM0.55)
Macquarie RM0.48 (no change)
Citibank RM0.68 (from RM0.65)
Kenanga RM0.63 (no change)
KAF RM0.60 (no change)
JF Apex RM0.53 (no change)
Hong Leong RM0.84 (no change)
RHB-OSK RM0.58 (from RM0.65)

Results TP:-
1) 2 IB - downgrade
2) 6 IB - maintained unchange TP
3) 1 IB - increased TP

Conclusion:-
8 IB buy meanwhile 1 sell

KUALA LUMPUR (May 25): Velesto Energy Bhd posted a lower net loss of RM46.2 million in the first quarter ended March 31, 2022 (1QFY22), compared with a net loss of RM60.47 million a year earlier, on the back of higher revenue.

Quarterly revenue climbed 76.22% to RM77.41 million from RM43.93 million, mainly due to higher activities in the drilling segment, where the segment’s revenue jumped 82% year-on-year to RM74.19 million on higher average jack-up rig utilisations during the quarter.

“As a result of the above, the drilling services segment registered a lower loss before tax of RM36 million as compared to RM48.9 million loss before tax reported in the corresponding quarter,” the group explained in its filing with Bursa Malaysia.

On prospects, Velesto said recovery in the global oil and gas industry outlook augurs well for the company. It said although the outlook is expected to improve, nevertheless, it may take time to be reflected in the group’s financial performance.

“Currently, three of the group’s six available jack-up drilling rigs are working, while another three are undergoing upgrading works and being prepared to meet the requirement of our potential clients for contracts that we are tendering for.

“The group is actively bidding for new tenders for local and international contracts scheduled to be performed this year and next year,” the group said in a statement accompanying the financial results announcement.

Meanwhile, the prospect for the workover services segment is improving with a number of jobs secured. Velesto said it has received work orders for three of its four Hydraulic Workover Units for the scope of Workover and Plug and Abandonment activities, through provision of integrated well services.

“The positive threading industry outlook is also expected to benefit the oilfield services operation in China.

“[Overall,] the board remains cautiously optimistic on the financial performance of the group in 2022, barring any unforeseen circumstances,” it added.

Velesto shares were unchanged at 12 sen on Wednesday (May 25), giving the group a market capitalisation of RM985.87 million.

To contra back the qtr loss maybe 2morrow they will announcement new contract, as usual...hahaha!

Hibiscus make 300mil
Armada 186mil

Velesto...Nothing to say, speechless

BOD tido....

PNB owned companies all same...adoi!

Qtr Loss 46mil...

Long way to go...don't dream

Qtr + another new project announcement anytime around this week, Get ready....

●Oil and gas industry: Benefit deposit rate

Petronas Trading (PETDAG, 5681, main board consumer stock), Petronas Petrochemical (PCHEM, 5183, main board industrial stock) and Lotte Tateng Chemical (LCTITAN, 5284, main board industrial stock) all hold net cash, which can be attributed to potential deposits benefit from higher interest rates.

Velesto Energy (VELESTO, 5243, main board energy stocks) core net profit this fiscal year may fall by 2% due to interest rate hikes, while Bumi Amadada (ARMADA, 5210, main board energy stocks) will not have much impact.

DIALOG Group (DIALOG, 7277, Mainboard energy stocks) had no significant impact as net debt was low and the tank terminal business would benefit from a strong US dollar and Singapore dollar.

Yeah! Q1 is around the corner. 2 more weeks to go. Expected good one.

Tunggu punya tunggu rambut pun sdh beruban...kiki

Higher oil price here to stay longer no doubt that velesto can pare down their debt efficiently.

No need to wait until next year before next year we can harvest ready if this company can generate good profit and increase rigs utilisation.

Daily rig rate last year usd68k/d this year might be different or perhaps more higher in conjunction with higher crude oil price...

Annual report - balance order book as at march 2022 is 661mil

Buy buy buy don't miss the boat. Very good consecutive qtr coming soon.

Mana raya ang Pau blm mari lagi....lai lai

Buy buy buy don't miss the boat. 80% of Velesto rigs fully utilized now, going to be good consecutive qtr coming soon.

Buy buy buy don't miss the boat..

After all the bribery case not as like 1MDB involved in billions of dollars. This is bcoz of some BA negligent officers and former tamilnadu CM looking for cheap pasar malam side income. The issue now not on BA but CBI hunting for this CM to bring to justice...how? Bribery case lah, whatever money that he received during his tenure as CM. BA already said will give full cooperation in this case.

Boleh settle punya out off court case...nothing is impossible in India hahaha!. AK influenced in India is very strong.

Old story keep on repeating...

KUALA LUMPUR (Sept 20): Bumi Amadada (ARMADA, 5210, main board energy stock) is caught in a lawsuit in India, but analysts are not overly worried that its local projects will be affected, and if the share price suffers as a result, it will be regarded as an entry Field time.

According to a report released today by AmInvestment Bank Research, as of the end of last year, Bumi Amada had a total outstanding order value of RM13.4 billion, of which 18% came from 4 joint venture projects in India; the world-renowned local consortium Sharpoorji Pallonji is the owner of all joint venture projects. partner.

The four Indian projects, including the Sterling & Sterlign II floating production storage and offloading (FPSO) vessel, in which Bumi Amadada holds a 49% stake, are currently operating at the D1 and Cluster-7 fields near Mumbai.

Next is the 30% Armada Sterling V FPSO currently used in the Cluster-II field of the ONGC NELP field KG-DWN 98/2 development project; the latter is located on the east coast of Kakinada, offshore India.

Then there is the 30-year franchise floating storage regasification unit operating in the Port of Mumbai, with Bumi Amadada holding a 49% stake.

“Excluding the Karapan Armada Steling III FPSO, which holds a 49% stake and is located in the Madura BD field off the coast of East Java, Indonesia, we estimate the company’s contribution from contracts in India (the first three projects) to account for 12% of the current total outstanding order value. ."

"As a result, we believe that about 12% of the company's pre-tax earnings in FY21 will come from India."

At this stage, analysts are not overly concerned that the company's local contracts will be implicated, as neither the joint venture partner nor its management are involved in the case.

The amount involved is not large

Furthermore, the actual amounts involved appear to be relatively insignificant to Bumi Amada's income.

"As such, we believe any potential share price downturn as a result of this event could be seen as a better buy-in."

In terms of valuation, the company's fiscal 2022 price-to-earnings ratio of 4 times is already unreasonable. After all, since Armada Kraken's operations returned to normal in the last quarter of fiscal 2020, its core earnings performance has been stable and its financial position is healthy.

Analysts kept their forecasts unchanged, pending further disclosure of the allegations, and maintained a "buy" rating with a target price of 83 sen, reflecting Neutral's 3-star ESG rating, and 8 FY22 multiple price-earnings ratio.

Bumi Amada closed at 43 sen on Wednesday, down 1.5 sen or 3.37%, with 37,267,300 shares traded.

Bumi Amadada performance forecast 20/4/22
The cause of the incident

Bumi Amadada recently confirmed that, along with its subsidiary Bumi Amadada Navigation Company (BAN), they have been prosecuted by India's Central Bureau of Investigation (CBI) and India's Enforcement Directorate (ED), and are currently in the interrogation stage.

Other defendants include former Indian finance minister Chidambaram, Chess Management Services, which is allegedly controlled by Chidambaram, and other businesses and individuals based in India and Malaysia.

The prosecution alleges that Chidambaram illegally approved the Foreign Investment Promotion Board in 2006 to approve Maxis' investment in Aircel.

In exchange, Bumi Amadada and BAN remitted approximately US$90,000 and 10,000 (approximately RM380,000 and RM40,000), respectively, to Chess Management Services in 2007 and 2009; the latter is controlled by Chidambaram's son .

Others are fearful. Be greedy when others are fearful. Hahaha! Buy buy buy.

Lets hope for this new CEO doing great job and bring Velesto to glory again.

No reason for PN17

Velesto not high debt company like Sapura. Financial structure well managed. Lot of order in hand this year and next year...

Agreed with Bon88....

Don't worry your turn will come soon...you're not alone many of them hold @ 0.50 above. Sabar relax

KUALA LUMPUR (April 13): RHB Retail Research said Bumi Armada Bhd is poised to move past the sideways consolidation phase of 43 sen as it bounced off the 21-day average line and closed at the immediate resistance level on Tuesday on strong volume.

In a trading stocks note on Wednesday (April 13), the research house said if the stock surpasses the consolidation phase in the coming sessions, the bulls are expected to drive the stock towards the 51 sen resistance, followed by 55.5 sen.

“However, the momentum may decline if it falls below the 40.5 sen support, which is below the average line,” it said

KUALA LUMPUR: Bumi Armada Bhd's solid execution from all floating production and storage offloading (FPSO) and disposal of offshore marine services (OMS) signal better prospects ahead for the company.

Affin Hwang Capital said Bumi Armada's primary earnings driver being the FPSO segment recorded a three-year profit compounded annual growth rate (CAGR) of 16 per cent underpinned by strong performances from FPSO Olombendo and Kraken.

FPSO Kraken, which used to be a stumbling block for the stock and the key reason behind the valuation deterioration in 2018, has undergone a strong turnaround under the new management team.

"On another positive note, Bumi Armada has made good progress in disposing of 23 offshore support vessels (OSVs) in 2021, with the remaining three units earmarked to be disposed of this year. The decision to wind down this loss-making legacy OMS business will further improve the stock fundamentals," Affin Hwang said today.

The firm said Bumi Armada's stronger fundamentals had been overlooked by the market, as it continued to trade at a valuation similar to when FPSO Kraken was still having issues.

It said the current depressed valuation was likely due to investors' past impression on the company, worrying over execution risks and recovery not being sustainable.

"However, all these are in the past. An environmental social governance (ESG) strategy to be announced soon is expected to further enhance the company profile," the firm said.

Affin Hwang has tweaked its earnings forecasts higher on Bumi Armada by one to four per cent after reflecting some balance sheet adjustments.

It expects a six per cent earning per share growth in 2022 with further room to upgrade its earnings forecast in the event OMS losses are smaller-than expected.

"An earlier start-up of FPSO 98/2 will also result in further earnings upgrade. We reaffirm our Buy rating on Bumi Armada with an unchanged 12-month target price of 70 sen," it added.