do you all know that all these FPSO are actually old out of service oil tanker ship, refurbished with FPSO facilities. These are very old ships, need a lot of maintenance job and depreciates very fast.

armadatuah2017 Why wanna concern company will go PN17, it wont happen in a shortwhile. Ri risk is also down because AK will not allow his shares to be dilluted and how much money he had to pump in to keep his shares if RI. He choses to pump usd72mil instead with interest gain. Ak is wise and not stupid as Geco or JC to be predicted,
30/09/2019 7:39 AM

He did not give the money for free, by giving USD72 million he gets a portion of a profit making unit from Armada at a lelong price into his private company. Means his risk in Armada is further reduced. I agree, AK is definitely smarter than sychan and some of you.

CEO and CFO are the two person who knows exactly what is happening in the company. If both of them resigned, means something is very wrong.

Why not let company close shop first then only go ? Both of them must be desperate to quit before it happens.. they have a valid reason for it.. one of it is EPF contribution. I am sure you know that Directors have to use personal money to pay EPF if company unable to pay or they have to sit in the jail.

Armada pay about RM400 million each year for Staff salary. Employer EPF contribution is 12% or 13%, we use the lower rate 12%, means each year is RM48 million ( RM4 million each month ).

Let say suddenly Armada bankrupt, cannot pay staff. Director need 6 month notice to resign. 6 x RM4 million is RM24 million.

Lets say there are 6 directors, each director have to pay to EPF about RM4 million each or face jail.

So now you know why they have to run fast, they cannot wait until Armada officially bankrupt.

India business failure demonstrates that Armada boss was unable to compete outside malaysia without being crony. You know why he can do well in Malaysia ? Pan Malaysia Pools ( Gambling ), just how many people are lucky enough to get a legal gambling license. Maxis Telco... again, how many people are lucky enough to get license to operate a telco company ? Astro... again, how many people are lucky enough to get license to operate ... as we all know lah, he has strong strings here.

But go outside malaysia, India... not even 10 years.. already kaput.. finished. Armada also try to operate outside Malaysia, also in dire condition. So dont look too highly of your Armada Boss. He is doing well because of strings, not real abilities.

As for Armada "impairment", "outpairment".. or whatever you want to call it. No matter what amount, if existed or non-existed...THEY DO NOT BRING any real pysical money to pay real debts RM11,500 million.

RJ87 Ckca, u know how to differentiate between current liability and long term debt or not?

Few armada debts are supposed to be converted to long term debts with kraken final acceptance. As they got acceptance after financial year means they hv to renegotiate repayment on current liability. Or get someone else to pay first la so that no need cough out 8-10billion in that year alone.

Kong kam that can’t differentiate current liability vs long term debt are quick to say armada default it’s loan.
29/09/2019 2:12 AM

wah you very terror lah... after converting short term debt to long term debt, No need to pay anymore ah ? Like that all the banks already gone bankrupt. I am not talking about paying the full about to the bank, I am talking about the yearly payment tot he bank ( a small portion of the RM11,500 million ) is enough to sink Armada.

cheemeng79 finance cost is tax deductable
29/09/2019 1:08 AM

not all are finance cost are tax dedutable... depends on the purpose of the loan and how the borrow the money, the principal repayment part sure cannot deduct. Whether it is tax deductable or not, Armada operations cant generate enough money to repay bank borrowings. That is why everytime repayment is near, they have to restructure bank borrowings or sell assets.

cheemeng79 According to your estimate of 2b revenue and 30% margin, PAT would be RM600m, not RM 450m.
29/09/2019 1:02 AM

You forget the 25% gov tax on your RM600 million profit... you will only have RM450 million after tax.

Mabel cant sleep issit ? Dont worry so much, Monday still got time for you to sell,,, because I am sure still got some ikan bilis believes in promoters promise of 80 sen.

Armada is only good for pump and dump trading. If you can catch it on the right time you can make money from contra, you can also make money for IDSS. But to keep Armada shares, you are taking the highest level of risk because Armada cannot cope with its debt.

cheemeng79 ckca...your figure doesnt tally with quarter report. Interest plus princial being paid now is RM130m per quarter, means RM520 M per year. RM3
29/09/2019 12:26 AM

Because they refinance their debt, so repayment is delayed. Next quarter you will see more lah.

Even at RM520 million, Armada still cannot cope with it with its current Revenue. Based on the most recent quarterly report, Half year revenue is only RM1 billion. Full year will be around RM2 billion. So PAT at 30% profit margin for RM2 billion revenue will be around RM450 million... still not enough to pay RM520 million.

Mabel @ckca HOW TO PAY RM11,500 million DEBT ?

I just prepared dinner after my dance lesson..
...
alot of stuff here, pretty impressive...
...
28/09/2019 10:23 PM

-----

All the promoters try to drown my simple question "How to solve the RM11,500 million bank borrowings" with this kind of profit and loss results from 2014...

2014 Profit RM224 million
2015 Loss RM241 million
2016 Loss RM2,005 million
2017 Profit RM376 million
2018 Loss RM2,319 million

Finally, Mabel come out with an attempt to answer me... I thought, wow, this Mabel maybe got some substance. Since she tried her best to build her case with revenue, then I will just look at the Armada revenue to do some simple calculation... who knows she might be right.

2014 revenue 2,397 million
2015 revenue 2,179 million
2016 revenue 1,317 million
2017 revenue 2,402 million
2018 revenue 2,418 million

I will be very generous with Armada, I will take the biggest revenue ever achieved by Armada for a year, which is RM 2,418 million revenue to do my Armada survival calculation.

Let me be very generous with Armada, give it 30% profit margin, you get RM730 million profit. Armada need to pay 25% gov tax for the profit, so your RM730 million profit is left with just RM547 million.

Now the painful reality,

The RM11,500 million loan...
Bank Interest ( I am still generouis, just give it a small 5% ) = RM575 million
Loan Principal Repayment ( also generous, just 3% ) = RM345 million

Total, need to pay the banks each year = RM920 million

Armada RM547 million from a generous 30% profit margin from the biggest revenue ever, is not even enough to pay bank interest alone.

Lets look at the total picture now...

RM547 million ( Armada ) - RM920 million ( Bank Repayment ), Armada is still short of RM373 million, even the highest revenue RM2418 million at a 30% profit margin.

How to pay the bank when you are short of RM373 million ? Borrow more money lah... soon the Banks will also realise it is a bottomless pit ( Bank Borrowing kept on increasing ). Soon the Banks will not be able lend anymore new money ( they have limits ). When new bank borrowing stops, repayment to bank also stops, PN1 will be announced.

Once PN1 announce, all the projects will be in trouble, No Banks will give new Loans, Supplier will not dare to deal with Armada, Debtors will start to delay payment waiting for Armada to collapse, Customer will be afraid to renew contracts...

Of cos it is true, all company have debts BUT ARMADA DEBT RM11,500 million is just TOO BIG for its business size. Armada will be dead for sure. Just matter of time. If you are unlucky to hold Armada shares at the wrong time... there goes your money!!!

Looks like the promoters have no answer to my RM11,500 million question. they have to wait for those people to drown my question with the post "ckca is pig and etc" so that nobody can see that question before they start their promotion again to lure newcomers to take over their shares before it crashes.

Jason Tay I c your comment also sien .... today is weekends go shopping better .

And eat lobsters, maybe can meet mabel ..hehe.
28/09/2019 5:29 PM

ask Mabel to commit more money into Armada if she dares. She just buy a little bit only or maybe worried sick she will lose her money when Armada eventually capitulate under the RM11,500 million debt. That is why have to come out with martini lobster story to lure u people in to take over her Armada shares.

when I ask the question how is Armada going to deal with the RM11,500 million debt, none of the promoters can answer... all they can say is Armada can reach 70sen.. ckca is a pig and etc

Armada Debt is RM11,500 million, I think by the time I finish typing this message, already grow close to RM12,000 million.

Profit and Loss since 2014 ( from annual report )...

2014 Profit RM224 million
2015 Loss RM241 million
2016 Loss RM2,005 million
2017 Profit RM376 million
2018 Loss RM2,319 million

HOW TO PAY RM11,500 million DEBT ?

Jason Tay Ckca ....u say us is promoters , then u ask me sell at 0.26 , but u c now the price is ?

Then u are what ? U are God of IDSS ar ? Haha...

0.26 u ask me sell that means proof that u are wrong .
28/09/2019 5:21 PM

If you follow me to sell at 26 sen, you would have bought back on the same day just like me without suffering any losses. You will still have all your Armada shares when you bought back Armada shares like what I did. Will you lose anything ?

If you have not bought any Armada shares, then how can you lose any money ?

sychan Ckca and John wrong everything they said is baseless
28/09/2019 4:55 PM

Since you think you are right, can you explain how is Armada going to pay the RM11,500 million bank borrowing ? You think this is a small sum ? RM11,500 million is a massive amount.

Just look at this baseless Armada Profit and Loss since 2014
give you the link to 2018 annual report also https://www.bumiarmada.com/App_File/Image/assets/[Final]%20BAB%20AR2018.pdf

2014 Profit RM224 million
2015 Loss RM241 million
2016 Loss RM2,005 million
2017 Profit RM376 million
2018 Loss RM2,319 million

From 2014 to 2018, Total Profit is RM600 million, Total Loss is RM4,565 million

----

Even during the Oil and Gas golden era 2014, Armada can only get RM224 million profit, what can you expect from Armada in this era ? Just tell me how is Armada going to pay the banks RM11,500 million ?

you know what kidnappers in primary school offer to little kids ? sweets.. just like the promoters of Armada. IDSS may not sound good, tell the kids not to take the sweets.

Johnchew is unfortunately right, Armada is in such bad shape, it is impossible to be saved. Operators are trying so hard to pass the worthless shares to ikan bilis.

What is wrong with you promoters... you buy Armada, we also buy Armada. You sell Armada, we also sell Armada. Why do you promoters feel that you are so special ?

IDSS supported the share price from dropping too fast because IDSS buy back at the end of the day.. got it ? IDSS also helps to prevent newcomer buying and keeping high risk companies save them from losing hard earned their money. You promoters are blindly asking everyone to buy and keep shares of a company that has RM11,500 million bank borrowings ( do you know how big is that debt ? ) which is confirmed Armada cant pay back ( cant even pay the loan bank interest ). It is like holding on to a time bomb the we dont know when will explode.

Although we say Armada is very bad ( which is true ) we still like Armada a lot, we always buy Armada shares ( at the end of the day )... only difference is that we do not keep the Armada shares because we know the danger involved.

all these promoters are desperate... they are stuck and they think by promoting Armada everywhere, some ikan bilis will buy and push Armada shares up for them to escape. If Armada is so good, no need to promote lah... just buy lah

Jason Tay Really ma , if the company so bad the boss won't pump money lo. Think also know lo ..
If company no good la u want pump money meh
So hai ...
Your brain how long didn't use jo. Pls use back .
27/09/2019 2:51 PM

the boss did not pump money in lah, he is buying something from Armada at lelong price. The boss is a very smart person, he buy something inside Armada that does not carry the debt RM11,500 million debt. People like you are buying something that is with RM11,500 million debt.

Jason Tay Ckca then u go away la , don't invest here if u can't take the risk .

Drop or up is our problem . Non of your business.

Scare invest go put your FD .

---
I do invest in Armada... I sell in the morning, then I buy back later on. Of cos I do not have any Armada shares, I just play IDSS with Armada. One of these day will will see a big dip... EPF already start selling... soon more will be selling, snowball effects.

madcow78 Just wondering why those who are so pessimistic about this Company bother to come here and bombard the forum. If i have no interest in the Company i won't be bother to leave any comments. Having said that, good move that they managed to secured US$75m shareholder loan. Look forward to more good news, especially the next quarter results to justify further the uptrend.

27/09/2019 12:46 PM

your US 75 milllion loan no need to pay back ah ? Even if US 75 million is given free, it is only RM RM 300 million. Armada need to pay back each year RM800 million, RM 300 million not even enough to pay bank interest. Armada will still need to borrow more money to cover the repayment. That is why the debt becomes bigger and bigger.

Still refuse to admit, just matter of time before Armada announce PN1... so many directors already left Armada ...

Armada RM11500 million debt is impossible to repay with Armada operation income. Each year need to pay at least RM500 million interest, if principal repayment is RM300 million, it will take 38 years.

That is RM800 million bank repayment each year for 38 years. How to find RM800million each year to repay banks ? That is if the debt did not grow, in Armada case, it is a growing deeper and deeper.. bottomless pit.

Impossible for Armada to clear that bank borrowing because it is not just debt, they also have salary, bills, maintenance and etc to pay. That is why AK is taking out of Armada whatever that is still valuable, he knows Armada is doomed... will become a zombie

want to promote also go and choose a safer counter to promote lah.. choose this kind of company to promote. Earning money from other people suffering wont give you any good

stockraider Must understand what AK is doing good for Armada, in its offer for refinancing loh....!!
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promoters... promoters... want to die go ahead lah, dont lead innocent ikan bilis into this half bankrupt company. The debt is RM11500 million, how much did AK give to Armada ? cant even cover 1 year bank interest repayment. How about next repayment ? still got things to sell at lelong to AK kah ?

You think AK do for free kah... AK is slowly taking away all the things that has value from Armada into his private companies. Soon Armada will become a skeleton company with RM11500 million debt. Still dare to go in or keeping Armada shares ?

Long time no see...today is the best time to short Armada. You see past few days I did not trade in Armada because I see many foolish people still chasing Armada, kept quiet let all of you learn a bitter lesson.. a painful one.

This debt deal only managed to delay the PN1 announcement ( for the second time ). This deal does not solve the RM11,500 million bank borrowing problem. Not only it does not reduce the RM11,500 million bank borrowings, Armada has to lose a portion of their profitable operations to AK private vehicle.

The only winner from this deal is AK because Armada gains nothing out of it apart from delaying the PN1 announcement. After this deal, Armada future income will be reduced, while debt to bank still remains the same at RM11,500 million. You can clearly see Armada cannot pay the bank interest with their normal business operations, how are they going to do it now with reduced business operations ?

AK already get back a portion of his investment in Armada from this deal, EPF already start running away ( EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 6,000,000 shares on 20-Sep-2019. ). The ikan bilis to panic sell as soon as they realise Armada cannot escape PN1 announcement for the 3rd time.

Maybe you have forgotten how Armada drop to 15 sen, it was the first time when they delay bank repayment by begging the banks to delay repayment. This time again, they cant pay the banks, bank wont give them anymore fresh loans. They have no choice but to sell profitable operations to AK at lelong price, just to pay bank interest. Same situation like last time. Will Armada drop to below 15 sen again ? All the big investors must be getting worried now, what will happen when the next repayment due date arrive ? IF continue like this, sure PN1... if PN 1, 3 sen also dont know got people want to buy or not.

Good idea, go and sleep while you still can because after tomorrow, you wont be able to get much sleep anymore.

Have you forgotten how Armada fall to 15 sen last time ? Because they do debt restructuring to prevent PN1. This time they are doing it again with AK to prevent PN1. So, be prepare for 15 sen and 5 sen when PN1 is announced.

What good news ? getting more debt is good news ? giving up business to AK private company is good news ?

What 0% chance of PN1, Armada is already PN 1, it is just not yet announce because got people help. It is already proven money Armada normal operation cannot pay the RM11,500 million bank borrowings. EPF has already started running away...

you can deny all you want, reality is still the same. Armada cannot pay the bank interest for their RM11,500 million bank borrowings. 1st time they beg the bank to delay bank interest payment, managed to do it. 2nd time still cant pay, bank dont want to delay anymore, they have to give some of their profitable business to AK private company to help them pay the bank interest. They survive again 2nd time...

3rd time will be coming soon, 4th time will be coming, 5th time.... how many times can more Armada can delay it ? We are not talking about RM500 million bank borrowings, we are talking about RM11,500 million bank borrowings... How to pay ? RM500 million is just the bank interest.

Normally when a company announce PN1, the share price will trade less than 5 sen

EPF selling will be coming soon https://www.malaysiakini.com/news/492198

Gov funds will not invest in Armada, they will be selling soon... just wait for their boss to get instruction from Dr M.

The best solution is, if that product is not profitable.. dont sell.

Gobind is just a politicians, he dont know how business works. He think by just increasing tariff, automatically profit will roll in. Try do that in pasar... you increase your vege from RM1 to RM5, you think you profit immediately increase ? you must also see what your competitors are offering... of all the other sellers selling at RM1.5, you see at RM5, who will buy from you ? even though it looks like you are going to make money from increasing from RM1 to RM5.

if AK buy back Armada, the RM11.5 billion debt will be a private debt... u think he so stupid ah, better let all of you share the RM11.5 billion debt than having to settle the debt by himself

AK wont buy lah... you think he want to lose money, the reason why he list Armada is because he dont want it anymore, if Armada is so good, better keep it as a private company and no need to share profit with anyone.

RJ87, you must know how the promoters work and how the ikan bilis chase shares, then very easy to make money from IDSS.. did u see me buying yesterday ? surely yesterday cannot, too dangerous for IDSS but today excellent condition when it surge in the morning.

RJ87.. I dont need to push down, just sell high early in the morning... like just now 0.325.. and wait. Before end fo the day, everything settled.

EPF cabut lari lah what else...

just imagine if one delivery to a remote place lose RM100, how many other delivery to cover that one loss ? If there are more than 10 or more remote places to delivery, all the orders combined also cannot cover the losses.

ckca RJ87... 1 sen ( 3 % ) is enough for IDSS for profit for a cheap 30 sen counter.
17/09/2019 10:42 AM

however today I think can make more than that because WAR IS NOT GOING TO HAPPEN

RJ87... 1 sen ( 3 % ) is enough for IDSS for profit for a cheap 30 sen counter.

soon all the storage tank will be filled to the brim, no place to store oil from production field... nobody wants it anymore, many offshore, especially those FPSO will be closed down because too expensive to operate.

ilurker... dont need greenes, there are just too much oil being pumped up.. over supply, price will drop

if you think all these online business is the future, then you should buy into other delivery service companies, because they can choose where they want to deliver and where they dont want to delivery...BUT not POS because POS delivery route are very bad and they have no choice, loss making also have to deliver.

The only way POS can make money is to stop delivering to remote places. Unfortunately they cant do that.

charge RM8 for the package, delivery cost, petrol plus worker time... RM100... one package loss is already kill all the profits.. Nowadays so easy to buy from online shop... imagine more remote kampong start buying 1 or 2 package a day, POS will suffer even bigger losses. Just look at the chart in the news paper on how POS make loss, you can clearly see ... despite alot of package to deliver they are all loss making. They more they deliver, the more they lose money. Unlike other players, they only deliver to big towns, that is why they can make money.

after this will target pos

RJ87, iDSS got lower brokerage fees lah 1sen down is already good profit for cheap counters like armada. At the moment already down 1.5sen from 32.5

imagine 1 remote kampong 1 package, you spend half day travel there with a van and one worker and you charge RM8 for that one package. sure lose money lah.

truly Today I went to pos laju collection centre nearby my area, I was supprised when I entered the building, it was crowded, and when I try to talk to the staff there, the lady said that the hv approximately 10000 parcel per day arriving, there are also motorbikes, bicycle,tv... Etc, and I wonder is this the company that can lose money?this is only pos laju, don't include normal mail yet, and how bout documents?only 1 centre, 10k parcel a day... And still can hear someone said that pos is dying??? Are they blind???
14/09/2019 9:36 PM

because when they deliver, they make loss. They have to make delivery to remote places, sometimes 1 package in the middle of the jungle.. cant even pay for petrol money.