Posted by raymondroy > 2024-06-26 19:30 | Report Abuse

kazakstan and the surrounding central asia are the worst when it comes to corruption, and crooked deals, just see what REACH is reaping..... if armada goes there then I believe its end of the road :-( just my opinion tho

Posted by Robert Waters > 2024-06-26 20:57 | Report Abuse

I want to say that as disappointed as I am with Bumi Armada, the management of R0ach Energy Berhad has the absolute world record in incompetence and mismanagement. Those guys are clowns of ignorance beyond belief. They have a company like hibiscus, but they crash it down to RM 0.03. In comparison, Greedy Gary is OK.

Come to think about it, R0ach may be a good investment. If someone wants to spend money with me, we can join other forum. Management has been changed recently. But Kazakhstan ...

Posted by Robert Waters > 2024-06-26 21:00 | Report Abuse

I still stand by my opinion of last week here.
-----------------------------------------------
Robert Waters
Take it from a guy who spent 3 years in Kazakhstan, both offshore and onshore. All the projects I saw were failing as the locals were simply too corrupt even for Italians to handle them. And it takes a lot to outdo Italians in corruption.
They had good coffee though, I admit.

1 week ago

Posted by marlboroman2 > 2024-06-26 21:23 | Report Abuse

So long as BA hits Rm1 some time this year, I will be the first in the forum to address the CEO as the Venerable Gary.

Doesn't matter if next he flies to Timbuktu as part of his itinerary.

85 sens is perfectly fine too (the Brent TP)

Posted by nikicheong > 2024-06-27 10:34 | Report Abuse

Looks like Yinson is set to secure yet another FPSO win in West Africa. Truly a slap on the face of Bumi Armada management. Despite having 3 to 4 FPSOs under varying phases of development, Yinson is still able to secure lucrative contracts. That's how far Bumi Armada has fallen. Their reputation in the FPSO space is tattered, and they have no reputation in the green energy or gas spaces. They were the best OSV player around a decade ago, now they sold off the entire OSV division. Bloody bunch of ammeters!

https://www.upstreamonline.com/exclusive/malaysia-player-set-to-scour-market-for-africa-fpso-topsides-modules/2-1-1666960

Posted by Robert Waters > 2024-06-27 12:07 | Report Abuse

Based on Bumi Armada lack of ability to execute, they should be taken over by Yinson. I remember when Yinson was a bus company in Johor (Logistics) and they bought one asset. At that time Armada was a big player. Now Armada has zero projects and Yinson is the star of the industry. Yinson could get a sukuk to take over Armada and shareholders would be better off.

Posted by jacintateh > 2024-06-28 13:29 | Report Abuse

Look at astro under ananda K. Going down the drain vs heydays except maxis stable giving out dividends but not moving also. All sama sama. Even though there is upside for BA but it is limited vs other players.

Posted by Robert Waters > 2024-06-30 20:58 | Report Abuse

Last week action was weak indicating syndicate collecting for news release (?) and I anticipate a spurt. Also average chart signal crossess which are very bullish.
In any case, price target is RM 0.84 based on the latest crude oil futures.

Posted by nikicheong > 2024-07-01 11:52 | Report Abuse

Thus far, it was a rather quiet first half of the year. Not one single news announcement (other than Armada Sterling V first oil).

Some announcements due in the 2nd half of the year:

1. Armada Sterling V full acceptance
2. Armada TGT charter extension
3. RM1.5bil corporate sukuk refinancing
4. Update on Akia PSC
5. Armada Kraken / Sterling II charter extension

Posted by marlboroman2 > 2024-07-01 13:58 | Report Abuse

6. BA springs a surprise announcement with venture into AI and data centre business ..... limit up to blue sky?

Posted by bullrun168 > 2024-07-02 08:50 | Report Abuse

Walaoeh, oil price spike up crazily !
Brent closed at=> $86.60 +1.60 +1.88 %
Like that today Armada going to limit up already liao lah !
Heng ah, Ong ah, Huat ah !

Posted by 1pingpong > 2024-07-02 12:02 | Report Abuse

armada rebound. heading back up steadily

Posted by marlboroman2 > 2024-07-02 15:03 | Report Abuse

AI project in the pipeline? 🤔

Posted by Robert Waters > 2024-07-02 15:10 | Report Abuse

Maybe they will go green by mothballing carbon producing assets to achieve carbon zero certification ?

Posted by marlboroman2 > 2024-07-02 15:15 | Report Abuse

Maybe investors are finally realising the mismatch between current BA price and Brent

Posted by bullrun168 > 2024-07-02 15:49 | Report Abuse

Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.58 (+0.015) (+2.7 %)

Heng ah, Ong ah, Huat ah !

Posted by MM78 > 2024-07-02 15:51 | Report Abuse

Frustrated by lack of business growth by BA for so many years and its lethargic stock price , I sold another 30 % of my total holding around 56-57 range lately. I am left with 1/3 of BA shares versus my record holding of BA shares. It has been 9 years of investing in BA and throughout the years of up and down, I bought and sold about 1.5 Millions shares in between the years to compensate for lack of dividend. Even though it is my most profitable stock in terms of values, I have decided to let go of my BA in stages as I can't see the current BA management doing much to get new contracts in its core business. It is sad.

Posted by Robert Waters > 2024-07-02 17:03 | Report Abuse

I share your frustration. We are excited about the price moves up and down, like today, but there is no project to discuss. And there has not been any for 8 years.
Even if they get one by some miracle, there will be 8 year gap in earnings growth in the future, so I see a lot of sense in your decision.

Posted by Cockcroach > 2024-07-02 17:16 | Report Abuse

HLIB stays overweight on oil and gas sector, names Dialog, Armada, Velesto as top picks

Posted by MM78 > 2024-07-02 18:18 | Report Abuse

The only saving grace for BA is its current Free Cash Flow but given the existing FPSO contracts are approaching the end of contract period subject to potential extension at reduced charter rates; I wonder what the impacts on the Free Cash Flow in near future are. BA looks more like a sunsetting company but with boastful ambitions of going carbon capture applications which shall not be in time to replenish its Free Cash Flow generations when its FPSO entering end of contract or lower charter rates period.

Posted by TimCoke > 2024-07-03 10:11 | Report Abuse

nev? 😏

Posted by TimCoke > 2024-07-03 11:25 | Report Abuse

580 still a good buy

Posted by marlboroman2 > 2024-07-04 09:10 | Report Abuse

585 still a good buy

Posted by TimCoke > 2024-07-04 09:12 | Report Abuse

Any of the news will do, just wait a little, lol

Posted by bullrun168 > 2024-07-04 09:13 | Report Abuse

Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.59 (+0.01) (+1.7 %)
Heng ah, Ong ah, Huat ah !

Posted by marlboroman2 > 2024-07-04 09:29 | Report Abuse

590 still a good buy, possible breakout in play

Posted by nikicheong > 2024-07-04 13:01 | Report Abuse

Like watching paint dry.

Posted by marlboroman2 > 2024-07-04 14:23 | Report Abuse

Like trying to book a grab driver during rush hour (so many drivers in the vicinity but none seems to pick up the ride)

Posted by leeabraham > 2024-07-04 16:48 | Report Abuse

leeabraham bullrun168 Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.59 (+0.01) (+1.7 %)
Heng ah, Ong ah, Huat ah (now 0.575!, tns it, why ah no project ???)

Posted by TimCoke > 2024-07-04 17:33 | Report Abuse

lol, go back in the end

Posted by 696988 > 2024-07-04 21:53 | Report Abuse

Everyday green meh? impossible lah, this not goreng stock also.

Posted by marlboroman2 > 2024-07-05 16:13 | Report Abuse

Today is yellow or green, possible lah, if not then eat pisang goreng lor

Posted by Gabriel Khoo > 2024-07-06 06:42 | Report Abuse

Accroding to the edge misc could take a substantial stake of armada

Posted by Robert Waters > 2024-07-06 11:02 | Report Abuse

Someone has to take charge as they are unable to get any project to move ahead. Yinson would be the best, but even Misc is better.

Posted by daretocutandchange > 2024-07-06 11:30 | Report Abuse

oil n gas stock charts look getting stronger

Posted by ckwee168 > 2024-07-06 13:38 | Report Abuse

@Gabriel, would u be able to share the article from The Edge on the potential buying of Armada stake by MISC? MISC had openly denied such moves in the past, but ARMADA's financials does look healthier now for any potential M&A play ya .. better keep ARMADA shares close to my chest if this is heading into something tangible ... Thanks and God Bless :)

Posted by Gabriel Khoo > 2024-07-06 17:11 | Report Abuse

https://www.klsescreener.com/v2/news/view/1354143

Posted by ckwee168 > 2024-07-07 13:38 | Report Abuse

Thanks, Gabriel and finger cross🤞

Posted by nikicheong > 2024-07-07 15:51 | Report Abuse

I'll gladly accept an exit offer above the 80 sen range, maybe even 75 sen.

Posted by vespa > 2024-07-07 15:53 | Report Abuse

(KUALA LUMPUR, June 6) Sources familiar with the matter revealed that Malaysia International Shipping (MISC, 3816, Main Board Transportation and Logistics) is in talks with Bumi Armada (ARMADA, 5210, Main Board Energy) to acquire the latter's shares and become its major shareholder.

Financial weekly TheEdge quoted sources as reporting that negotiations for Malaysia International Shipping to acquire Bumi Armada have been ongoing, but there has been no breakthrough yet.

In response to a reporter's inquiry, MISC also said: "The company is actively exploring any investment opportunities that can add value to its shareholders. If there is substantial progress, the company will communicate with relevant stakeholders."

It is understood that the above negotiations were conducted at the shareholder level and did not involve management, so the reporter did not seek advice from Bumi Armada.

The largest shareholder of Bumi Armada is Malaysian tycoon Ananda, who currently holds a 34.58% stake in the company.

Is India's Tata also a competitor?

It is believed that Ananda had the idea of ​​quitting several years ago, and Shapoorji Pallonji Mistry of India's Tata Group also seemed interested in taking over. The latter served as a member of Bumi Armada's board of directors from October 2014 to February 2017.

However, there has been no follow-up action since then.

Malaysia International Shipping is a subsidiary of Petronas (holding 51% of the shares) and is mainly responsible for Petronas' transportation-related matters.

Bumi Armada is one of the world's largest floating production storage and offloading (FSPO) operators, with total assets of approximately RM11.59 billion as of the end of March this year.

Posted by vespa > 2024-07-07 15:53 | Report Abuse

Google translation

Posted by nikicheong > 2024-07-07 15:57 | Report Abuse

If anybody has access to The Edge Weekly digital edition (or even print edition), appreciate if you could share the article. Seems like there's something substantive this time around. The Edge is usually quite reliable in their insider information.

Posted by Gabriel Khoo > 2024-07-07 16:25 | Report Abuse

Nik. This above is the key take away. Other written in the edge paper merely on bab info.

Posted by Gabriel Khoo > 2024-07-07 16:29 | Report Abuse

The offer if any to shareholders likely to be at the range of 85 to 90c

Posted by Gabriel Khoo > 2024-07-07 16:29 | Report Abuse

If its acquire by MISC bcos its means value accretion to them

Posted by birkincollector > 2024-07-07 16:40 | Report Abuse

Ananda very old already. Surely start the sucession plan. But his children no interest in businesses. Surely got major corporation moves for all his counters soon including astro and maxis

Posted by nikicheong > 2024-07-07 19:35 | Report Abuse

Link to the article: https://ibb.co/8sJz0Cc

Posted by nikicheong > 2024-07-07 19:36 | Report Abuse

Nothing too damning, but plans are afoot and I hope something comes of it this time. I can see MISC buying Ananda's stake, and then injecting their FPSO into Bumi Armada

Posted by Robert Waters > 2024-07-08 09:17 | Report Abuse

Do not get too excited. I studied Roach Energy a bit. About 50% was bought at 20 sen per share while it was trading at 5. There was hope, but did not materialize. Plans to invest. However, the counter is now at 3 sen.
We better hope all of BAB gets bought. Misc is cash rich as I checked.

Posted by Thirai Thiraviam > 2024-07-08 10:35 | Report Abuse

Given BAB's healthy free cash flow (of around 16 sens per share per quarter), the debt that stands at around 74 sens per share will likely be paid off by the end of 2026. After that, BAB would become a cash cow, at least for a while. Since BAB is no longer growing under the present management, some kind of change could be good.