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: Bumi Armada Bhd
, the oil and gas company controlled by tycoon T. Ananda Krishnan, once again dipped into losses due to impairments.
In its third-quarter result that was released last Friday, the company took a RM563.48mil hit to better reflect the value of its offshore support vessels (OSV) fleet and the sale of floating production and operation (FPO) asset, Armada Ulysses.
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