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Business 18 Oct 2012 | 12:00 AM

Forbes Bumi Armada take-out oversubscribed

HONG KONG: The US$276m seven-year loan for Forbes Bumi Armada Offshore Ltd has been oversubscribed, receiving more than US$300m in commitments from seven Indian banks, according to sources. The borrower is Singapore-incorporated Armada D1 Pte Ltd, a joint venture between India's Shapoorji Pallonji Co, Malaysia's Bumi Armada Bhd and Mauritian company Clean Environment Investments Co Ltd.

Business 24 Aug 2013 | 12:00 AM

Bumi Armada in for two new jobs

WITH a bit of luck, Bumi Armada Bhd could bag two floating, production, storage and offloading (FPSO) vessel jobs as early as next month.

Corporate News 13 Nov 2014 | 12:00 AM

Second extension for Bumi Armada’s FPSO contract, share price hits 52-week low

PETALING JAYA: Bumi Armada Bhd, which has seen some RM5bil being wiped out from its market capitalisation since mid-June when oil prices began to fall, has said that it has postponed the execution date of its RM3.76bil contract with Husky-CNOOC Madura Ltd (HCML) for the second time.

Business 07 May 2019 | 1:03 AM

Trading ideas: Digi, Axiata, Salcon, Bumi Armada, Straits Inter Logistics, Barakah

KUALA LUMPUR: JF Apex Research expects Digi.com Bhd, Salcon Bhd, Bumi Armada Bhd, Axiata Group Bhd, Straits Inter Logistics Bhd and Barakah Offshore Petroleum Bhd to be among the stocks to watch on Tuesday.

Business 25 Apr 2019 | 12:00 AM

Billionaire Ananda Krishnan's Bumi Armada stays afloat

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.

Corporate News 05 Mar 2019 | 12:00 AM

Cash call option for Bumi Armada

PETALING JAYA: Despite management’s guidance that there will not be an equity raising exercise in the near term, Bumi Armada Bhd may need to recapitalise its balance sheet, said KAF-Seagroatt & Campbell Securities.

Corporate News 17 Apr 2018 | 10:27 AM

Bumi Armada FPSO hit by Erin Petroleum Nigeria's force majeure event

KUALA LUMPUR: Bumi Armada Bhd has been hit by a suspension of its Armada Perdana floating production storage and offloading (FPSO) unit by Erin Petroleum Nigeria Ltd (EPNL).

Business 23 Jun 2017 | 12:00 AM

Analysts unfazed by suspension of FPSO ops

PETALING JAYA: Analysts are unfazed by the suspension of operations of Bumi Armada Bhd’s floating production storage and offloading (FPSO) vessel Armada Perdana, considering that the vessel had no revenue contributions previously, coupled with non-receivables for a prolonged period

Corporate News 28 Feb 2017 | 11:26 AM

Not all doom and gloom despite Bumi Armada net losses

KUALA LUMPUR: Bumi Armada Bhd's net losses widened in the fourth quarter ended Dec 31, 2016 after a RM1.1bil non-cash impairment on several of its assets, predominantly in the offshore vessels (OSV) business segment.

Business 14 Jul 2011 | 12:00 AM

Bright earnings prospects for Bumi Armada

MIDF Research has put a value of RM3.62 for Bumi Armada Bhd, based on 20.4 times the price earning ratio (PER) for 2012, representing a potential upside of 19.3 per cent to the final initial public offering (IPO) price.