ARMADA (5210) Overview - BUMI ARMADA BERHAD

Armada still pity oil price go up because of war ...it stays flat

2 weeks ago

XXXvalue

you must be crazy to send oil tanker to the region at this moment.

2 weeks ago

Dialog, Hengyuan, Deleum, Dayang much better

2 weeks ago

this operator Armada wants to drop the price

2 weeks ago

One possible explanation for the lackluster biddings maybe because BAB is taking a conservative approach to conserve funds for the future PSC developments in Indonesia fields which are capital intensive. A lot has been achieved by the company last few years in term of debt reduction but going forward we are yet to see any tangible results for having a strong balance sheet. If the merger falls through I wont be surprised if the company is privatised.

2 weeks ago

@Sovereign, it does not make sense that Bumi Armada is merely conserving funds for developing Akia and Kojo, when the FID is 4 and 5 years away respectively, at the very earliest. Cause if that were the case, they would be wise to deploy ~RM1bil to reduce the debt immediately and then progressively rebuild the coffers over the next 3 to 4 years. This would instantly result in around RM70mil in savings per annum which will translate to RM70mil increase in profits, and enough to pay a 1 sen dividend to shareholders. From my understanding at the AGM, they are keeping this spare cash for some specific near-term purpose as a bargaining chip - FPSO, FSRU, FCSIU/FSIU, FLNG - but how likely is this near-term opportunity to be achieved? That's the million dollar question. The CFO clearly mentioned that Bumi Armada is in a unique position at the moment cause they are bidding with the cash in hand, unlike others who will need to raise debt/equity funding.

2 weeks ago

Just88

I m still waiting for the transformational moment

2 weeks ago

TimCoke

Run

2 weeks ago

Operator wont let it fly instead dropping it ....wasting time you to invest your money in this stock ...

2 weeks ago

LimPek1510

This stock is on auto cruise mode since AK passed away. His son is a monk in Thailand and the 2 daughters also not involved in his business.

2 weeks ago

I have stopped investing in Armada for a few months now; it has been a roller coaster for me over the last 10 years. Made the most profit from Armada in my portfolio but I see Armada is sliding down the slope; hence I cleared it a few months ago. It is interesting to see some hardcore supporters also starting to lose confidence in Armada too. Don't know if I feel relieved or sad for Armad's pathetic stock price situations after I left.

2 weeks ago

stncws

armada canbe 60c when oil 100

2 weeks ago

MM78, if you had invested in the company over the last 10 years it meant you had bought into the company when the share price was around RM 1.50. Like you I have been investing the company since almost 10 years ago and since then bought more shares when there were dips in the share price and havent sold a single share. The company is at a pivotal juncture, a correct turn will send the price up to a multi-year level. Nobody can be sure when that will be or if it will come at all but one thing is for sure, the company is not going to go bust and if anything with the free cash flows the company is generating it can sit on its laurels. That for me is the reason to keep holding on to its shares as the only way for it to go is up. It requires a lot of patience though.

2 weeks ago

KLCI 2010 1,518.91
KLCI as of now 1515.32 Oh dear!

2 weeks ago

Stetupid stock - Armada

2 weeks ago

🤣🤣🤣🤣🤣

stncws

armada canbe 60c when oil 100

3 hours ago

2 weeks ago

Go to hell Aramada

2 weeks ago

@ Sovereign I started buying Armada around late 2014 or early 2015 since then its price went mostly down slope but I continued to buy and sell some along the roller coastal ride, sillily, at high single digit profitability level for the first few trades.! I barely knew the company then but I slowly paid more attention to how it was run. I came to the "understanding" then that Armada has some existing long term FPSO contracts and with extension provisions when the initial contract period ends. Dint pay too much attention new an FPSO was under constructions ( and was behind schedule , cant recalled exactly though ). So I presume its revenue should be quite stable and quite visible only to see the company was bogged down by so much loan hence financial costs. 2 MDs were change before Greedy Gary came onboard as MD . Over the years I continue to accumulate Armada till it became the "flagship" in my humble size investment portfolio then. I bought and sold various portion size of Armada stock to cash in along the ways and by Oct year 2019 my average holding cost was about RM 0.29 when I sold a big portion of Armada to cash in and brought back some cash when its stock price rebound to RM0.44. I guess I was lucky to do so shortly before Covid 19 became a major pandemics. Over the subsequent years I bought and sold Armada at various prices and amazingly have not made a trade at loss despite I often despaired at how fragile the Armada stock price were. So it has been my lucky stock so far and I kept some faith till I sensed the current Armada management was not coming forward to share timely information of Kraken when it had major issues. My confidence went down further when the management only keep talking about lofty carbon catching project but could not get any new FPSO projects since Gary came onboard as MD. The new charter rate for Kraken is not attractive at all and is a hole that cant be filled in by any new FPSO business. So I sold my last batch of Armada share in April at RM 0.54 I cant see any immediate bright spots for Armada with its current leadership unchanged . For 10 years I traded 1.8 millions Armada share at average selling price of RM 0.60, possibly would be my biggest traded stock in life. Most importantly I do make some good money out of it, I am most grateful though.

1 week ago

Armada appears to have lost its way

1 week ago

Robert Waters

It is beyond belief how underperforming became the nature of this company. As the success they list the sale of the asset (and debt reduction). The only progression is by means of PLANS and studies.

1 week ago

Except for repaying the loans with strong cash flow in the last few years , I cant see what the Armada management has achieved beyond that ; hence the market is not convinced. Not only the management has performed poorly but the Board of Directors is not functioning well. The MD need to be replaced before we can see better leadership. The shareholders should be more vocal on these bad situations.

1 week ago

https://klse.i3investor.com/web/pricetarget/research/75283

MM78 there were vocal shareholders who asked relevant questions in the AGM, the answers from Management was never direct. And to make matters worse, the old man who is the Chairman, shut down more questions from the shareholders who actually probed about the business. Meanwhile, he just let shareholders who were rambling on about vouchers and door gifts. Terrible Chairman.

1 week ago

mikeann

1 week ago

Some of you are already invested overseas but for those uninitiated you should explore the idea of investing in developed economies.

1 week ago

Diversify

1 week ago

Hello bro, you keep buying and you keep losing ...hahahahahah better dont post this research...wasting time

mikeann

https://klse.i3investor.com/web/pricetarget/research/75283

4 hours ago

1 week ago

Settttuupid research 😂

mikeann

https://klse.i3investor.com/web/pricetarget/research/75283

4 hours ago

1 week ago

@nickicheong, all the more to suspect the management is not interested to interact well with shareholders if the chairman shut down active relevant questions in AGM. I attended Myeg AGM recently and when the meeting chairman tried to stop more questions being asked , she was reminded by one shareholder that under SEC rules, she cant stop questions being asked by shareholders in AGM. Myeg MD was gracious enough to allow more questions and answers session while the AGM was waiting for the resolutions votes count. I think that shows a big difference between an open management and could not care less management towards the minor shareholders. Another good example is Hibiscus MD who would go all out to answer questions in AGM patiently with lots of details he knows like the back of his hand, showing a competent, confident and caring leadership. Armada leadership is far below these 2 examples.

1 week ago

SonniaFang

So that's the reason why Armada share price slip?

1 week ago

No wonder they all shares everyday but why got retailers buying ? buying hoping Armada rise again ....🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 rediculous ....

1 week ago

So everyday retailers are selling ..wow .......how long ? More cheap to go ?

1 week ago

@Sonia . Share price is influenced as much by the quality and integrity of the company's top management leadership as its financial performance track records. Why would an investor trust some incompetent management team to run your company ?

1 week ago

Bumi Armada withers away into the darkness and abyss, day by day.

1 week ago

Useless

1 week ago

The analysis below is generated by Perplexity AI on Armada :
" The main factors behind Bumi Armada's stagnant revenue growth over the past 10 years, despite its strong cash flow, are as follows:

Lack of New Major Projects: Armada has not secured significant new FPSO (Floating Production Storage and Offloading) contracts in recent years. Its revenue is heavily dependent on a limited portfolio of long-term FPSO contracts, and without new project wins, top-line growth remains flat.

Asset Divestments and Business Restructuring: The company has exited or wound down non-core businesses, such as its Offshore Support Vessel (OSV) segment, to focus on core FPSO operations. While this has improved profitability and cash flow, it has also reduced overall revenue contributions from diversified sources.

FPSO Contract Expiries and Rate Reductions: Some existing FPSO contracts are entering extension periods with lower day rates—for example, the Armada Kraken FPSO is expected to see a rate cut of up to 70% upon contract extension. This directly impacts future revenue streams, offsetting gains from operational improvements.

Limited Industry Growth and Competitive Pressures: The global FPSO market has seen limited new project awards in recent years, with increased competition from larger international players. This has constrained Armada’s ability to grow its order book and revenue base.

Sectoral and Macro Headwinds: The oil and gas sector has faced prolonged periods of weak oil prices, capital discipline among oil majors, and a shift toward energy transition, all of which have reduced demand for new FPSO projects and limited sector growth opportunities.

Focus on Deleveraging Over Expansion: Management has prioritized using strong cash flows to pay down debt and strengthen the balance sheet, rather than aggressively pursuing new revenue-generating projects. This conservative approach has stabilized the company but at the expense of top-line expansion.

In summary, Armada’s stagnant revenue growth is primarily due to a lack of new contract wins, asset divestments, contract rate reductions, and a strategic focus on financial stability over expansion, even as strong cash flows have improved profitability and reduced debt.

Related
What internal strategies might Armada be missing to boost revenue growth
How have industry trends influenced Armada's revenue stagnation over a decade
Could operational inefficiencies be limiting Armada’s revenue despite strong cash flow
What role do competitive pressures play in Armada’s long-term revenue performance
How might market perception affect Armada's ability to translate cash flow into growth

1 week ago

MM78, a very good assessment of Armada's state of affairs. Latest news is Yinson to pause major investments as revenue continues to drop despite all the contract wins. Maybe there was unhealthy competition out there in term of FPSO biddings. Let's see what this means for Armada.

1 week ago

LimPek1510

when the competitor pause major investment, it is time for Armada to grab in new FPSO project. If the management still not able to perform, speechless loh.

1 week ago

If true, that means Yinson has dropped out of the Tangkulo FPSO race. Which leaves Bumi Armada with 2 other competitors. Still no final decision made just yet.

1 week ago

Some bad news out of Indonesia - the Tuna project has hit some snags and Harbour Energy is looking to exit. As such, it is highly unlikely there will be an FID and FPSO award anytime soon.

Which now brings us back to a SINGULAR prospect - Tangkulo FPSO.

In a day and age where FPSO projects abound globally, and in a situation where Bumi Armada is flush with cash and with capacity to borrow significantly more, it is a sorry state of affairs that there is only one active FPSO bid at the moment, and even that from what I hear, the Company's bid is not competitive.

6 days ago

This is what happens when you have a Board and Management accountable to no one.

6 days ago

They may be putting their lot in PSCs or other pivots otherwise times and opportunities are wasted by not actively bidding for projects available out there. Looks like they are still in consolidation mode instead of going on a growth path now that funding is not a problem.

6 days ago