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Business 30 Mar 2019 | 12:00 AM Premium

Brazil FPSO jobs aplenty for local players

The buzz is on for the local floating, production, storage and offloading (FPSO) players. And it is not because of jobs to be awarded by Petroliam Nasional Bhd but opportunities are coming from overseas, particularly Brazil.

Corporate News 22 Feb 2019 | 12:00 AM

Target price for Bumi Armada cut to 30 sen

KUALA LUMPUR: CIMB Equities Research has reduced its target price for Bumi Armada to 30 sen from 70 sen on the possibility that the company may need more equity if it hopes to grow its portfolio of FPSO assets, or if banks fail to agree on an extension for its debt repayments.

Markets 21 Feb 2019 | 9:40 AM

CIMB, Tenaga shore up KLCI to higher close

KUALA LUMPUR: Firm fund buying of CIMB, Tenaga and Press Metal, especially in late trading on Thursday, enabled the FBM KLCI to extend its rally for the fourth day.

Markets 21 Feb 2019 | 1:56 AM

KLCI snaps three-day rally, Bumi Armada most active

KUALA LUMPUR: Blue chips fell early Thursday as investors decided to lock in some gains after a three-day rally as the full year financial results got underway while Bumi Armada came under selling pressure and it was the most active.

Analyst Reports 21 Feb 2019 | 1:05 AM

CIMB Research slashes Bumi Armada target price

KUALA LUMPUR: CIMB Equities Research has reduced its target price for Bumi Armada to 30 sen from its earlier 70 sen on the possibility it may need more equity if it hopes to grow its portfolio of FPSO assets, or if banks fail to agree on an extension to its debt repayment.

Corporate News 18 Jan 2019 | 12:27 AM

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.

Corporate News 13 Sep 2018 | 12:00 AM

FPSO’s final acceptance to mitigate default risks on loans

PETALING JAYA: The final acceptance of Bumi Armada Bhd’s Armada Kraken floating production, storage and offloading vessel (FPSO) will help mitigate the group’s default risks on its related borrowings and improve earnings and cash flow visibility.

Business 13 Jul 2018 | 12:00 AM

Yinson remains upbeat about FPSO industry

KUALA LUMPUR: The number of tenders in the floating production, storage and offloading (FPSO) industry is at its highest now, which augurs well for FPSO providers like Yinson Holdings Bhd.

Analyst Reports 27 Feb 2018 | 12:48 AM

Bumi Armada’s FY17 core earnings slightly above forecast

KUALA LUMPUR: Bumi Armada’s FY17 core net profit of RM322mil was 5.5% higher than CIMB Equities Research’s expectation and 2.5% above consensus due to lower-than-expected 4Q depreciation charge.