Bumi Armada share price down to 48.5 sen on likely revenue hit

RHB Research said it did not expect “expect a lumpy vessel impairment” as it is still on the assumption that the issue will be resolved in the short term.

PETALING JAYA: Spooked by the unexpected shutdown of Bumi Armada Bhd’s Armada Kraken floating production storage and offloading (FPSO) vessel in the UK North Sea, investors have sold down shares of the company.

At market close yesterday, the stock lost 23.62% of its value or 15 sen lower at 48.5 sen.