PETALING JAYA: Analysts are unfazed by the suspension of operations of Bumi Armada Bhd’s floating production storage and offloading (FPSO) vessel Armada Perdana, considering that the vessel had no revenue contributions previously, coupled with non-receivables for a prolonged period.
PublicInvest Research said it had conservatively not accounted for the contract and maintained it “outperform” recommendation on the counter with an unchanged target price of RM0.90.
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