Ananda’s Armada in a storm

Heavy provision: Armada Kraken is finally deployed to an oil and gas field in the North Sea.

IF anybody thought the worst was over for Bumi Armada after it sailed through a brutal downturn in the oil and gas industry three year ago, they were proven wrong last week.

An internal memo from executive director and group chief executive officer Leon Harland painted a sombre picture of the oil and gas company that is controlled by low-profile billionaire T. Ananda Krishnan.