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: Billionaire T. Ananda Krishnan’s Bumi Armada Bhd
may have averted bankruptcy for the moment via its multi-billion-ringgit debt refinancing, but the loss-making company continues to be highly geared and will incur an additional RM40mil in interest expenses.
Speaking to StarBiz, an equity analyst welcomed the move by the offshore energy facilities and service provider to refinance its unsecured term loans of US$380mil (RM1.57bil) and revolving credit facilities of US$280mil (RM1.16bil), which have been delayed for some time.
