Cut in earnings forecast affects Bumi Armada, shares fall 21 sen

At risk: One of Bumi Armada’s FPSOs. Analysts speculate that some of the group’s vessels may risk losing their deployment contracts, or not having them renewed.

PETALING JAYA: Shares in Bumi Armada Bhd lost a-fifth of its value after analysts slashed their earnings forecast on news that a client had terminated a contract involving one of its floating production, storage and offloading (FPSO) vessels.

Analysts also speculated that some of the group’s other FPSO vessels could also risk losing their deployment contracts, or not having them renewed.