Posted by ITreeinvestor > 2024-07-09 20:43 | Report Abuse

MISC didn't deny the transaction, instead it mean that if any progress big enough to disclose, they will make announcement in bursa.

Posted by nikicheong > 2024-07-09 20:48 | Report Abuse

A deal, if any, is still in its infancy.

I wrote in to Bursa Malaysia today on both MISC and Bumi Armada. Only MISC has responded with an official clarification.

Posted by Robert Waters > 2024-07-09 21:13 | Report Abuse

This seems to be the usual way with BAB. When Kraken had HSP failure we had to get information from Enuest, even though the matter was immaterial for them. Any develpment that leads to change in management I approve, as they do not care about minority shareholders being informed.

Posted by leeabraham > 2024-07-10 09:42 | Report Abuse

knee jerk reaction yesterday.

Posted by zonefinder > 2024-07-10 10:05 | Report Abuse

No smoke without fire. Just that this will take some time to materialise. Meantime, the management will take this as an excuse to sit back and relax. No more initiative to look for projects. What a joke...

Posted by serpent100 > 2024-07-10 10:55 | Report Abuse

Misc main main

Posted by nikicheong > 2024-07-10 11:06 | Report Abuse

Speculations of a merger might have lifted Bumi Armada’s (BAB) share price in the past month. While combining both FPSO fleets may propel the merged entity to Modec’s fleet size, alongside complementary geographical FPSO market presence, the stumbling blocks are too great in our opinion. There is a lack of financial synergies from the non FPSO segments. If any, we think a collaboration in certain projects may generate more positive market reaction. We advise investors to take profit on BAB.

SELL BAB with an unchanged target price of RM0.50. We assume the recent share price appreciation is related to the speculation, as BAB’s fundamentals is unchanged with no nearterm prospects of a contract win. Moreover, a Jun 24 Upstream article revealed that the payment dispute by ONGC for the JV FPSO Armada Sterling V still lingers, despite the FPSO having already achieved first oil on 7 Jan 24. This also implies that the final acceptance test may miss management’s expectation of Jun 24. Hence, we advise taking profit on BAB.

https://research.uobkayhian.com/content_download.jsp?id=79779&h=633b65a72baf25227e30eaab8d497bba

Posted by ITreeinvestor > 2024-07-10 11:29 | Report Abuse

Potential to create a mega FPSO player equal to Modec’s fleet size, with complementary areas in geographical reach.

Theoretically, combining the 13/8 offshore assets of MISC/BAB can create an FPSO behemoth with a fleet size equivalent to Modec, the largest FPSO player globally

Posted by Robert Waters > 2024-07-10 11:30 | Report Abuse

Armada already missed on the expectation of acceptance test for ASV.
They also missed to deliver on the promise of contracts in the Caspian, where Greedy Gary went to find an excuse for NOT getting involved.

Posted by Penarak > 2024-07-10 13:35 | Report Abuse

UOB TP 0.50 is too low.In the near term,it will probably linger in the 0.575 -0.61 margins.

Posted by nikicheong > 2024-07-10 16:02 | Report Abuse

Back to reality!

Posted by nikicheong > 2024-07-10 18:28 | Report Abuse

Haiyoo rather than making stuppid announcements on Bursa, announce something substantive!

Posted by 696988 > 2024-07-10 20:55 | Report Abuse

At least they did clarification of news. Better than nothing

Posted by Penarak > 2024-07-10 21:56 | Report Abuse

Doesn't look like there is a deal happening anytime soon,since both are in denial 😬

Posted by 696988 > 2024-07-10 23:02 | Report Abuse

I will just hold for one more month see how going

Posted by Cockcroach > 2024-07-11 04:55 | Report Abuse

Exited all. Same rumour happened few years back.

Posted by TimCoke > 2024-07-11 08:59 | Report Abuse

Unable to deny means something happening, stay tune

Posted by nikicheong > 2024-07-11 09:55 | Report Abuse

Another opportunity lost. Some more, this is a gas FPSO closer to home. Bumi Armada has been trumpeting its "gas projects".

Gary is sleeping on the wheel and somebody gotta be waking him up!!!

https://www.upstreamonline.com/exclusive/two-contractors-in-battle-for-petronas-ultra-deepwater-fpso-project/2-1-1674744

Posted by Balian de Ibelin > 2024-07-11 10:39 | Report Abuse

Big shareholders still throwing all.

Posted by Robert Waters > 2024-07-11 10:44 | Report Abuse

Sleepy Gary reported that he has nothing to report. Now he will take a few weeks of rest thinking that anouncement of nothing is something to cover up his idleness.

Posted by leeabraham > 2024-07-11 12:34 | Report Abuse

should sell & move on ?

Posted by Heungheungloveyou > 2024-07-11 13:16 | Report Abuse

sell and move on

Posted by ITreeinvestor > 2024-07-11 16:01 | Report Abuse

https://www.upstreamonline.com/finance/acquisition-talks-reported-between-malaysian-fpso-players-but-no-material-development/2-1-1675120

Posted by gamble > 2024-07-11 16:08 | Report Abuse

everyone writing to make armada looks bad. run!

Posted by Gabriel Khoo > 2024-07-11 17:29 | Report Abuse

Bumi Armada is pleased to announce that the Armada Sterling V FPSO has completed the necessary acceptance tests and successfully achieved Final Acceptance effective 1 July 2024. The achievement of Final Acceptance signifies the commencement of the firm charter period for the Armada Sterling V FPSO.



As previously announced on 6 May 2019, the vessel charter is for a firm period of nine (9) years, with ONGC having the option to extend for an additional seven (7) years, on a yearly basis.

Posted by ITreeinvestor > 2024-07-11 17:33 | Report Abuse

Finally, final acceptance and new earning will kick in from Y24Q3 onwards

Posted by ITreeinvestor > 2024-07-11 17:35 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3463477

Posted by nikicheong > 2024-07-11 18:19 | Report Abuse

Something decent for once.

Still puzzling why it takes them 10 days to announce. If they practice good governance, they should announce as soon as something is finalised to minimise insider trading.

Posted by Gabriel Khoo > 2024-07-11 18:24 | Report Abuse

UOB analyst is against BAB.

Posted by nikicheong > 2024-07-11 18:46 | Report Abuse

One down. Small wins, one at a time.

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 raymondroy > 2024-07-11 20:33 | Report Abuse

UOB KH not so positive on the potential merger...
https://www.freemalaysiatoday.com/category/highlight/2024/07/11/merger-between-ananda-krishnans-bumi-armada-and-misc-a-bridge-too-far/

Posted by 696988 > 2024-07-11 20:57 | Report Abuse

Normal lah, they always not so positive.

Posted by marlboroman2 > 2024-07-11 21:26 | Report Abuse

https://www.shareinvestor.com.my/bc/downloads/uob_kayhian/BUMI_ARMADA_BERHAD(5210).pdf

Posted by marlboroman2 > 2024-07-11 21:27 | Report Abuse

The same analyst? The one who gave a TP of 19 sens when BA was trading at 27 sens back in November 2020.

Look at the historical chart of BA at that time and have your thoughts.

Posted by Penarak > 2024-07-11 22:10 | Report Abuse

Yeah,all let fly !

Posted by Robert Waters > 2024-07-12 00:47 | Report Abuse

Analyst Kong Ho Meng worked for OSK and then RHB. They sold me original Yinson investment 10 years ago. I remember they were against Armada because of ethnicity. At that time I was still naive and said I did not mind at all. Bought small portion. Now, without being racist I say OK to consider all options. I was once interviewed by chinese company that did NOT want any more chinese and wanted to be more open... so it works all ways.
But the Yinson investment worked out for me, for their credit.

Posted by Balian de Ibelin > 2024-07-12 09:21 | Report Abuse

fierce
more Big Shareholders exit.

will the nexgen continue in the polluting oil business?

Posted by Balian de Ibelin > 2024-07-12 09:33 | Report Abuse

I propose a change in business direction to do AI and datacenter since people are starting to dump these AI datacenter shares as well

Posted by Balian de Ibelin > 2024-07-12 09:48 | Report Abuse

price today already factored in the cashflow from commencement of charter business

Posted by Balian de Ibelin > 2024-07-12 09:54 | Report Abuse

in FPSO business you need to put in huge energy to get energy out.
Transformers only outlast lifetime of FPSO when used in a steady state operation basis.

a lot of fansi drifted away after the fiasco. 😁

Posted by Balian de Ibelin > 2024-07-12 10:17 | Report Abuse

when you fail to put energy in, circumference of line solidifies like arterial plaque, liquid pressure rises and current climbs to infinity, if the cut out fails either in quantity or time, transformer blows. 👍😁

Posted by steady31 > 2024-07-12 10:29 | Report Abuse

just ridiculous BA still below its 52 week high when even the once highly indebted Perdana is 2.5x higher from 0.20 to 0.50 in the same period. With net earnings of 0.13-0.16 annually, in 3 years time its net asset value will be as high as its share price.

Posted by Penarak > 2024-07-12 10:52 | Report Abuse

Share price not showing acceptance of Sterling V .It should hv gone up alittle.Coupled with the getting off of those who boarded on Tuesday ,the afternoon session could be somewhat rocky .

Posted by Balian de Ibelin > 2024-07-12 10:59 | Report Abuse

Yes but other companies shares climbed because they have the skillset to do the core business.

Give it some time
and fresh newbies nexgen will not know that Armada has zero skillset operating an FPSO resulting in transformer blowouts 👍😘

Posted by marlboroman2 > 2024-07-12 13:57 | Report Abuse

I am one of the faithful fansi (the buy to hold type), market as a whole not going anywhere & BA looks like a safe counter imho

Posted by SonniaFang > 2024-07-12 14:20 | Report Abuse

OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024, predicting robust fuel use in the summer months.

https://www.thestar.com.my/business/business-news/2024/07/12/aneka-jaringan-wins-rm53mil-logistics-hub-job

Posted by SonniaFang > 2024-07-12 14:21 | Report Abuse

Oil theme still in play

Posted by Russel > 2024-07-12 15:27 | Report Abuse

Holland

Posted by gamble > 2024-07-12 15:33 | Report Abuse

run...will reach 0.5 as per uob advice.

Posted by steady31 > 2024-07-12 15:51 | Report Abuse

BOD of Armada is poor in capital management.With such high consistent earnings and having so aggressively paid down bank borrowings to now a very comfortable level,, it is high time they consider paying dividends to sustain a higher share price. For a start 3 cents dividend is not generous as it will amount to a payout of 25% of earnings. Share price will definitely strengthen and 1.00 is not impossible as dividend yield would just be 3.3%