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Ananda’s Armada in a storm

Bumi Armada’s high capex in the last three years and hiccups in some of its operations have put a strain on its balance sheet and the spotlight on its major shareholder

Bumi Armada aims to improve balance sheet

WHILE a number of analysts agree that the worst may already have been priced into Bumi Armada Bhd, there are some concerns the company may need to resort to raising funds given its high gearing position and the need to brighten its outlook in order to secure jobs moving forward.

CIMB Research retains Add for Bumi Armada, TP 70 sen

KUALA LUMPUR: CIMB Equities Research is retaining its Add recommendation for Bumi Armada with an unchanged sum-of-parts based target price of 70 senwith the key rerating catalyst being closure in the refinancing negotiations.

Armada Kraken seen as a boost for Bumi Armada

PETALING JAYA: Bumi Armada Bhd expects the Armada Kraken floating production, storage and offloading unit (FPSO), which achieved first oil last week, to boost the performance of the company

Bumi Armada seeks RM1.1bil from Woodside

PETALING JAYA: Bumi Armada Bhd has filed a claim in the Australian court seeking US$283.51mil (RM1.1bil) from Woodside Energy Julimar Pty Ltd for the termination of a contract for the charter of the Armada Claire floating production, storage and offloading (FPSO) unit.

MISC may own 65% of Bumi Armada

PETALING JAYA: MISC Bhd may gain up to two-third majority control in Bumi Armada Bhd if a deal to inject its offshore assets into the latter for shares pans out, analysts said.

Bumi Armada fundamentals intact

WHAT’S going on with international offshore oilfield services provider Bumi Armada Bhd? When will the bleeding of its share price stop?

Cut in earnings forecast affects Bumi Armada, shares fall 21 sen

PETALING JAYA: Shares in Bumi Armada Bhd lost a-fifth of its value after analysts slashed their earnings forecast on news that a client had terminated a contract involving one of its floating production, storage and offloading (FPSO) vessels.

Mistry boost for Bumi Armada

WHILE it is generally business as usual for shipping giant Bumi Armada Bhd, two developments have taken place recently that make the stock an interesting counter to watch.

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Liquidity risk still hovers over Bumi Armada

BUMI Armada Bhd’s tight liquidity situation is seen as a setback for the company in expanding its business and taking on new contracts.