“We continue to believe that Bumi Armada will find it very challenging to engage in further asset disposals in the next two-year horizon, which brings into question if the new Nov 22 deadline has sufficient timing, ” UOB Kay Hian said.
KUALA LUMPUR: Bumi Armada Bhd
’s extension of the final maturity date for its Tranche 1 facility to Nov 23,2022 from May 2021 previously has not sat well with analysts.
“We are negative on this news, as we view that the extension of the maturity date could indicate that Bumi Armada is facing difficulties in securing a refinancing from the banks, ” said Kenanga Research.
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