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Business 15 Sep 2018 | 12:00 AM

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.

Business 22 Feb 2017 | 12:00 AM

Potential earnings upgrade seen for Bumi Armada

PETALING JAYA: Analysts are expecting potential earnings upgrade for Bumi Armada Bhd, as a result of its floating, production, storage and offloading (FPSO) Armada Olembendo’s first oil success on Feb 8 and subsequently, FPSO Armada Kraken, which is on station and securely moored at the North Sea.

Corporate News 27 Nov 2018 | 12:00 AM

Bumi Armada Q4 profit seen to be lacklustre

PETALING JAYA: Bumi Armada Bhd’s fourth quarter earnings is expected to be lacklustre, due to weakness in the offshore marine services (OMS) segment as well as the renewal of its vessels Armada Constructor and Installer, said UOB Kay Hian.

Corporate News 04 Dec 2018 | 12:00 AM

Shares in Bumi Armada rebound from record low

PETALING JAYA: Shares in Bumi Armada Bhd rebounded from a record low after the company said it would be selective in pursuing new projects.

Business 24 Nov 2016 | 12:00 AM

Bumi Armada incurs RM96.71mil net loss in Q3

PETALING JAYA: Bumi Armada Bhd posted a net loss of RM96.71mil for the third quarter ended Sept 30, 2016 from a net profit of almost RM70mil in the same quarter a year ago, as contributions from floating production, storage and offloading (FPSO) and floating gas solutions (FGS) narrowed.

Business 19 Apr 2013 | 12:00 AM

Change of chairman at Bumi Armada

PETALING JAYA: Bumi Armada Bhd independent non-executive director Tunku Ali Redhauddin Tuanku Muhriz is set to succeed Datuk Seri Mahamad Fathil Mahmood as the company’s chairman.

Business 08 Jul 2015 | 12:00 AM

Bumi Armada unit bags syndicated term-loan facility

PETALING JAYA: Bumi Armada Bhd’s unit Armada Kraken Pte Ltd has bagged a syndicated term-loan facility and a standby letter of credit facility worth US$755mil (RM2.88bil).

Business 18 Feb 2013 | 12:00 AM

Bumi Armada subsidiary gets US$740m contract from India's ONGC

Bumi Armada Bhd's subsidiary has secured a US$740mil contract from India's Oil and Natural Gas Corporation Ltd (ONGC) to provide a floating production, storage and offloading vessel.

Business 22 Feb 2013 | 12:00 AM

Bumi Armada Q4 earnings down 12.5% to RM109m

Bumi Armada Bhd's earnings fell 12.5% to RM109.14mil in the fourth quarter ended Dec 31, 2012 from RM124.76mil a year ago due to higher cost of sales but it was upbeat about the long term outlook for the offshore oil and gas services sector.

Business 08 Apr 2013 | 12:00 AM

Finland's Wartsila bags job to design 4 vessels for Bumi Armada

Finland's Wartsila has secured a major contract to design a series of four multi-purpose platform support vessels (MPSVs) for Bumi Armada Bhd.