PETALING JAYA: Although Bumi Armada Bhd
has received a contract extension worth billions of ringgit, analysts have mixed views due to the company’s debt level and the overall challenging outlook for the oil and gas industry.
Maybank IB Research said Bumi Armada’s “highly” leveraged financials remain an ongoing concern and that it would need to de-gear through asset monetisation and reduction in expenses.
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