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.
KUALA LUMPUR: The management of Bumi Armada Bhd
is not considering equity fund raising but instead it is mulling asset monetisation, such as selling floating production storage and offloading (FPSO) stakes to partners, setting up private trusts (infrastructure funds) or tapping into an available debt facility of US$1.5bil.
UOB Kay Hian Malaysia Research said these plans have been worked out for more than a year and are in advanced stages.
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