icon will drop to 0.50 cents

price could be 2.00 for them to do privatized...

this share NAT is 1.59...no way it can go down further. once oil price increase BA will be the first to rebound

now EPF will start buying BA

KUALA LUMPUR (Dec 8): Bumi Armada Bhd’s counter gained as much as 4.8% or 5 sen today after CIMB Research maintained its “add” rating on the counter for its long-term fundamentals and firm order book of RM21.8 billion.

As at 4.11pm, Bumi Armada settled at RM1.07, up 3 sen or 2.88% with 26.88 million shares changing hands, giving it a market capitalisation of RM6.28 billion.

On Friday, the company told Bursa Malaysia that its CEO and executive director Hassan Assad Basma would relinquished his positions with effect from Jan 1 next year.

It said Hassan had requested for an early release of his contract of employment due to family reasons.

Prior to that, Hassan had sold the remainder of his equity stake amounting to 2.74 million shares in the company on Dec 4 via two separate transactions at RM1.02 and RM1.03 apiece. He sold the shares due to margin calls.

Pending the appointment of a new CEO, Chan Chee Beng, a member of the board since 2003, has been re-designated as executive director and acting CEO.

He has been a member of the executive committee since 2008, acting as its chairman since last year.

“Under his [Hassan’s] leadership, Bumi Armada has climbed a notch to No. 5 in the world’s FPSO league table over the past three years. While his resignation as CEO is a negative development, we take comfort in the company’s long-term fundamentals, supported by a firm order backlog of RM21.8 billion,” said CIMB Research in a note to clients today.

“We continue to value the stock at 21.2 times calendar year 2016 (CY16) price to earnings ratio (P/E), still at a 30% premium over our target market P/E of 16.3 times pending a review of our premium valuations. Maintain ‘Add’ with a strong FPSO contract pipeline as potential re-rating catalyst,” it added.

It told its clients to take advantage of the share price correction and accumulate shares in the company.

It was also upbeat on Bumi Armada’s fundamentals despite the current oil price weakness, “anchored by its firm order book of RM21.8 billion, excluding the 10-year US$1.18bn Madura contract and extension options worth RM11.8 billion”.

“The company is currently bidding for four FPSO projects - one each in Ghana, Nigeria, Namibia and Angola,” it added.

KUALA LUMPUR: CIMB Equities Research has advised investors to take advantage of the share price correction in Bumi Armada and accumulate the shares.

It said on Monday that despite the leadership change with Hassan Basma is stepping down as CEO due to “family reasons” and current oil price weakness, it continues to like Bumi Armada’s long-term fundamentals.

CIMB Research said the company’s fundamentals are anchored by its firm order book of RM21.8bil, excluding the 10-year US$1.18bil Madura contract and extension options worth RM11.8bil.

“The company is currently bidding for four FPSO projects - one each in Ghana, Nigeria, Namibia and Angola,” it said. Its target price for Bumi Armada is RM2.56, which is a massive 146% above its last traded market price of RM1.04.

CIMB Research said Basma told them that while he was stepping down as CEO due to “family reasons”, he would stay on as a consultant until mid-2016.

Under his leadership, Bumi Armada has climbed a notch to No. 5 in the world’s FPSO league table over the past three years.

“While his resignation as CEO is a negative development, we take comfort in the company’s long-term fundamentals, supported by a firm order backlog of RM21.8bil.

“We continue to value the stock at 21.2 times CY16 price-to-earnings (P/E), still at a 30% premium over our target market P/E of 16.3 times pending a review of our premium valuations.

“Maintain Add with a strong FPSO contract pipeline as potential re-rating catalyst,” it said.

C_Bee_Hong ... if exp date 2023, how much is this warrant suppose to be?

berakah...how to sell without making loss? maybe next year will improved

lloydlim...where did u get the TP from?

Will his resignation cause any effect to BA?

fuelsub project coming next month..be patient

Thc8168...cut loss before to late, this stock going down

“Rule #1: Don’t lose money. Rule #2: Don’t forget Rule #1.” – Warren Buffett

i will start buying when it reach 50cents...maybe by next year

sunztzhe can we meet up one day...this is my email salmanz13@yahoo.com

good 3Q report for icon..but still downtrend this stock. i will start to buy when it reach 0.50cents

i'll start buy in when it is below 0.50 cent

if reach 50cents...then we start buying again

bottom maybe until 50cents

sunztzhe..i find ur writing make more sense due to DS current performance...

im new here, does bimb-wa give dividend?

feel like this stock will take a long time to get back where it was, just wandering how many of u got stuck big time here. instead of making money we lost money here..cut loss and move on to other performing stock guys

after 3Q result announce...DS will dive futher down...

pavillion any news on the 3Q result?

pavillion any news on the 3Q report...

optimushuat a liar

optimushuat...is this true what ur telling?

pavillion any good news to share with us...

i think this is good news for Dsonic

any news on DS 3Q report....

how u know bigmama?

Armada is better

Malaysia's offshore oilfield services firm Bumi Armada Berhad received a Letter of Intent (LOI) from Eni Angola S.p.A (eni Angola), a wholly-owned unit of Eni S.p.A., for the charter, operation and maintenance of a floating production, storage and offloading vessel (FPSO) to a consortium of Bumi Armada Offshore Holdings Limited (BAOHL, a wholly-owned subsidiary of Bumi Armada) and Angoil Bumi JV Limitada (ABJL*) for deployment at Block 15/06, East Hub located offshore Angola.

Under the LOI dated March 28, Bumi Armada will start engineering and procurement work on the FPSO immediately to prepare the vessel for first oil in late October 2016. The contract is valued at approximately $2.9 billion (equivalent to approximately MYR 9.5 billion).

“This LOI is our second large (capex of more than $1 billion) FPSO award in 6 months and underscores our successful migration into the large-project FPSO sector. This is the second time Eni has turned to Bumi Armada for an FPSO in West Africa and we will continue to collaborate with our tried and tested value-chain, as we have done in the past, to successfully deliver this project for our repeat customer. This project is our first VLCC-tanker conversion. The Armada Ali will be used for conversion. The 15/06 FPSO will be delivered in 31 months and this project will take Bumi Armada’s FPSO fleet to eight, clearly moving us into the top-tier of global FPSO players,” CEO/Executive Director of Bumi Armada Hassan Basma said in a press release Monday.
- See more at: http://www.rigzone.com/news/oil_gas/a/132328/Bumi_Armada_Receives_29B_FPSO_Contract_from_Eni_for_Angolas_Block_1506#sthash.mfPw3AUp.dpuf

this stock everyday new low...

Luyee nobody ask ur view

Wayne..can u translate for us

i think the 3Q result will be good...

sun..how do u know the EPS is not good for the next few month?

Tabung haji is buying icon...huat huat huat

tomorrow DS going boom boom boom !!!

tomorrow DS will fly high...

KUALA LUMPUR: Datasonic Group Berhad was selected as the supplier for the smart identity cards for the National Registration Department (JPN) based on the technological capacity and capabilities it had, said Deputy Home Minister Datuk Seri Wan Junaidi Tuanku Jaafar.

He said the selection of the company was made in an open, transparent and accountable manner with no connections between the company and the government.

“The procurement system used by the ministry through open tender means that we were open to Malaysians who have the capability to be involved in the supply of the smart card to JPN.

“The open tender identified that Datasonic met the criteria required by JPN, the Home Ministry and government,” he said in reply to a question from Datuk Norah Abd Rahman (BN-Tanjong Manis) at the Dewan Rakyat yesterday.

Wan Junaidi said the company had factories in Petaling Jaya and Port Klang.

He said JPN together with the Chief Government Security Office (CGSO) always monitored and carried out regular audits of the factories producing the identity cards . — Bernama

this forum is more interesting than watching drama on tv, keep on writing u all....keep the story coming :)

Sun - crude oil price effect oil n gas company, maybe u r in the wrong forum

calvin did u buy any icon share? if u didn't, then why r u here..

hahaha..ada org kena marah

KUALA LUMPUR: The proposed fuel subsidy rationalisation scheme can only be implemented towards the first half of 2015 as the logistics will take some time to implement, said Kenanga Research.
In its note today, the research firm said the petrol subsidy is likely to be given for one car per MyKad.
"Though this will definitely help the government's coffers, there is always the question of how this system can be enforced," said Kenanga Research.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah was recently reported as saying the fuel subsidy rationalisation scheme will be implemented next year in three tiers based on an individual's salary, unlike BR1M which is based on household income.

coming dec oil price will increase, then icon will go up

DS flying today. Better buy n not miss the boat

goodluck and others like him, just leave DS...instead of posting negative comments here...go and buy PDZ