Bumi Armada balance sheet poised to improve

Bumi Armada ship

PETALING JAYA: Bumi Armada Bhd’s recent financial results came in within analyst expectations, and moving forward, the international offshore energy facilities and services provider is expected to see healthy operating cash flows.

RHB Research in a report to clients said Bumi Armada’s balance sheet is expected to improve on the back of a healthy operating cash flow, led by stable floating production system (FPSO) operations and continuous asset monetisation.