Posted by TimCoke > 1 month ago | Report Abuse

Collect more!

Posted by ocbc > 1 month ago | Report Abuse

M&A price must be >$0.98

Posted by Robert Waters > 1 month ago | Report Abuse

That I agree. Many times too many I sold counters that were going up senselessly and against all logic. Soon after, there was an anouncement. New contract, winning law suit or similar. In Armada case most likely positive is that the statue of limitation has run out. Or judge decided that they will not be tried as an adult and go to minor court. Or their officer in Malaysia Anti Corruption Committee resigned.
:-)

Posted by vespa > 1 month ago | Report Abuse

@Robert Waters lol

Posted by TimCoke > 1 month ago | Report Abuse

M&A $ < 0.6

Posted by vespa > 1 month ago | Report Abuse

TimCoke … any basis to your comment ?

Posted by vespa > 1 month ago | Report Abuse

This is about a month old and am not sure if posted earlier by others but here goes.
Gain For MISC With Bumi Armada Synergy
By Editor -November 16, 2024

News broke in Jul 2024 that MISC may take a substantial stake in Bumi Armada Berhad, obliquely implying that Objektif Bersatu Sdn Bhd (OBSB, ultimately owned by tycoon Ananda Krishan) that holds a 34.6% stake in BAB could be looking to exit the company.

MISC’s share price subsequently corrected 16% from RM8.90 on 3 Jul 2024 to a recent low of RM7.46 on 25 Oct 2024, as shareholders feared the implications of MISC possibly having to expend a lot of its cash on a mandatory general offer (MGO). We think that this worst-case scenario is now unlikely to be true, as MISC and BAB announced to Bursa on 14 Nov 2024 that both parties have signed an MOU and will over the next nine months explore a merger of MISC’s Offshore Business Unit (OBU) with BAB in an all-share transaction. CGS Investment Bank theorises that MISC may inject its OBU into BAB in exchange for new BAB shares. The house’s target price for BAB implies a RM4.7bn valuation (in contrast to its market cap of RM3bn), while it also values MISC’s offshore business at RM15bn.

Combining the two entities at these valuations, MISC will end up with a 76% stake in the merged entity (‘ME’), while OBSB’s stake in ME may be diluted to 8.3%. MISC may be obliged to execute an MGO for BAB, according to the Malaysian Code on Take-Overs and Mergers 2016, but if OBSB publicly announces that it does not intend to accept the MGO, there is a chance that MISC may not cross the compulsory acquisition threshold of 90%, which fits in well with the stated intention of both MISC and BAB to keep ME listed.

As such, assuming the merger is completed, CGS expects MISC to place out shares in ME to ensure adequate free float. A 10% placement by MISC may raise RM1.97bn for MISC (assuming a valuation of RM19.7bn for ME), equivalent to 22% of the RM9.1bn that MISC had spent on building the FPSO Mero-3. In this way, CGS believes that MISC can indirectly achieve its goal of paring down its stake in Mero-3, since its efforts to find trade buyers for the Mero-3 have so far not been successful, according to the company.

Operating synergies and prospects for MISC’s growth
MISC may experience a relief rally, since an all-shares transaction will help preserve MISC’s cash balances. The house thinks that a merger of two mid-sized FPSO companies can also help pool engineering resources, with cost synergies, while MISC can gain exposure to BAB’s growth initiatives, including the Bluestreak carbon capture and storage (CCS) project in the UK, and the potential to monetise gas via a floating liquefied natural gas (FLNG) solution in Indonesia. The house reiterates Add on these potential rerating catalysts.

EGMs will need to be convened at both companies, giving minority shareholders a chance to analyse closely and vote accordingly. The key downside risks are if the valuation for MISC’s OBU is lower than expected, or if BAB’s valuation is higher than expected.

Posted by vespa > 1 month ago | Report Abuse

https://www.businesstoday.com.my/2024/11/16/gain-for-misc-with-bumi-armada-synergy/

Posted by sheldon > 4 weeks ago | Report Abuse

TQ vespa.
The last sentence was from MISC's perspective hence opposite for BAB.

Posted by nikicheong > 4 weeks ago | Report Abuse

https://www.pharos.energy/investors/press-releases/vietnam-production-licence-extensions-granted/

The TGT block has been granted a 5-year license extension to 2031! This is good news, as the Armada TGT FPSO's lease was recently extended to 2026. There is a potential 5 additional years of extension to come in the future.

Posted by sg999 > 3 weeks ago | Report Abuse

Game over???

Posted by Robert Waters > 3 weeks ago | Report Abuse

About a month ago, CEO of Sapura Energy resigned. Stock went up 50%. From 3 to 4.5 sen. (back to usual now). Imagine the reward for shareholders if Greedy Gary resign. One can only dream.

Posted by shocklim > 3 weeks ago | Report Abuse

@ Robery Waters

Has Gary done a good job as CEO?

I guess so as he has brought the company from the red into the black

And from billions of debt to what it is today

Can he do any better by getting new and additional contracts?

Yes

But are we sure a new CEO can do any better.

Sometimes it is better to deal with the devil we know than the angel we do not.

Anyways, just my 2 sen worth of opinion as i am not as knowlegable as you and NikiCheong

Posted by vespa > 3 weeks ago | Report Abuse

Armada’s future would lift off with Petronas being the benefactor.. Hopefully the merger takes place with MISC’s outfit.

Posted by sg999 > 3 weeks ago | Report Abuse

TIME TO ALL IN！！！ 0.78 a t least!!!

Posted by Just88 > 2 weeks ago | Report Abuse

Nikicheong, any estimate on the potential impairments amount in Q4 ? Thanks

Posted by Just88 > 2 weeks ago | Report Abuse

what is the current book value for armada kraken ?

Posted by nikicheong > 2 weeks ago | Report Abuse

Just88 no estimate. It’s a management overlay, they can pluck any figure. If I had to guess, something in the region of rm200mil.

Posted by Just88 > 2 weeks ago | Report Abuse

Nikicheong, thank you for your opinion. Any idea what is the current book value of karken ?

Posted by Robert Waters > 2 weeks ago | Report Abuse

Happy New Year 2025 Everyone.

Posted by vespa > 2 weeks ago | Report Abuse

I echo your greetings Mr Waters

Posted by nikicheong > 2 weeks ago | Report Abuse

Blessed new year to everyone! May the new year beckon positive developments at Bumi Armada.

Posted by TimCoke > 2 weeks ago | Report Abuse

signaling

Posted by alivetoinvest > 2 weeks ago | Report Abuse

Astro Next

Posted by Robert Waters > 2 weeks ago | Report Abuse

That was one BIG Dump. I was just selling some at 0.67 looking at transactions when I saw dozens of selling notifications bring it down to 0.655 with see of red flowing in. Somebody crystallized his profit.

Posted by TimCoke > 2 weeks ago | Report Abuse

buy low

Posted by MarketNavigator > 2 weeks ago | Report Abuse

Can't consider current price is low liao

Posted by TimCoke > 2 weeks ago | Report Abuse

sold some, lets see how later

Posted by Robert Waters > 2 weeks ago | Report Abuse

l have been selling over past few days. There is still possibility of this company shares to go up. But I had it for too long. Greedy Gary, green initiatives that never materialize, impairments every few years ... all of that wears me out.

Posted by nikicheong > 2 weeks ago | Report Abuse

A wise move, Master Robert

Posted by Sovereign > 2 weeks ago | Report Abuse

Wait for the merger with MISC. It is a shame after holding for so long and left just before the dawn of a new beginning.

Posted by Robert Waters > 2 weeks ago | Report Abuse

The price has already appreciated ... my order to sell at 0.68 awaits. But a lot more to sell at even higher price. Seems there is some development that insiders know, but we have no idea of.

Good action today.

Posted by TimCoke > 2 weeks ago | Report Abuse

last boost

Posted by TimCoke > 2 weeks ago | Report Abuse

its like many retails buying at "high" point is it

Posted by Noni > 2 weeks ago | Report Abuse

Going back to 0.65 ?

Posted by ITreeinvestor > 1 week ago | Report Abuse

2. Golden Age of the FPSO cycle

2.1 Strong global FPSO outlook
Rystad Energy estimates that total offshore upstream Oil & Gas and CCS
investments to grow at a 5% CAGR from 2023 to 2027E, where the bulk of
the growth would come from greenfield and brownfield capex – see Figure
4. In 2024-2030E, deepwater (125-1,500m) and ultra-deepwater (>1,500m)
will spearhead offshore liquids production growth at an estimated CAGR of
2.2% and 8.0% each

FPSOs are often the most popular/feasible option for developing oil & gas
fields in such depths as pipeline installation/construction can be extremely
expensive and technically challenging. While FPSOs are not exclusively used
in deepwater and ultra-deepwater, they are particularly well-suited for
these environments due to their ability to handle their unique challenges
and complexities.

We think the FPSO market is currently in the “Golden Age” due to a robust
global tender pipeline – with an expected 60 awards from 2024-2028E
(source: Energy Maritime Associates).

Posted by Robert Waters > 1 week ago | Report Abuse

Ah, on a day like today we would have a few dozen messages during the trading about the action a couple of years ago. And of course more comments in the evening. How things changed. But maybe it is the normal run of things that only the very patient stay long enough to be rewarded.

Posted by Sovereign > 1 week ago | Report Abuse

Serious money can only be made with plenty of patient.

Posted by vespa > 1 week ago | Report Abuse

Quite right Sovereign, but with a qualifier; with good governance and transparent management.

Posted by TimCoke > 1 week ago | Report Abuse

M&A $ < 0.6

Posted by 696988 > 1 week ago | Report Abuse

Tim..... do you have the M&A link?

Posted by RayLee > 1 week ago | Report Abuse

I thought Armada would move up today since oil price rose to $80 per barrel ...

Posted by TimCoke > 6 days ago | Report Abuse

watchout, pls

Posted by TimCoke > 5 days ago | Report Abuse

I don’t have the link. Hopefully, it’s not triggering the institutional selling

Posted by 696988 > 5 days ago | Report Abuse

nvm, I sold all already, too tired to hold anymore at least earn some angpau money.

Posted by TimCoke > 5 days ago | Report Abuse

good la, gxfc

Posted by vespa > 5 days ago | Report Abuse

taking some off the table (profit) never hurts

Posted by 696988 > 5 days ago | Report Abuse

thank you haha

Posted by Robert Waters > 5 days ago | Report Abuse

I also sold some, but majority of stake I am still holding. Looking for new bargains. This does NOT look like a bargain any more. Rather a peaking stock that may still have a bit of upward move to go. Cheers.

Posted by Vincenzo888 > 2 hours ago | Report Abuse

FPSO contractors lining up for replacement of sizeable Malaysian floater
PTTEP recently floated a tender for a replacement FPSO for the Kikeh field offshore Malaysia from 2028.

I believe Bumi Armada and MISC JV could won this PTTEP's Kikeh PFSO replacement project. This is deep water oil field offshore Sabah. Not many companies have this experience.