The contracts were associated with the floating production, storage and offloading (FPSO) vessel Armada Perdana, and the suspension was first announced last June after delays to the bare-boat charter payments as well as irregular payments on the operations and maintenance contract.
PETALING JAYA: The share price of Bumi Armada Bhd
slid 4.5 sen to close at 86 sen with 24.66 million shares changing hands after announcing that the offshore energy facilities and service provider will incur RM30mil loss from the credit risk recovery related to the suspension of the bare-boat charter and operations and maintenance contracts to Erin Petroleum Nigeria Ltd (EPNL), a subsidiary of Erin Energy Corp.
The contracts were associated with the floating production, storage and offloading (FPSO) vessel Armada Perdana, and the suspension was first announced last June after delays to the bare-boat charter payments as well as irregular payments on the operations and maintenance contract.
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