More impairments for Bumi Armada

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.