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Bumi Armada Bhd is a Malaysia-based international provider of offshore energy facilities and services. The company?s revenue is derived from business segments including floating production, storage, and offloading, or FPSO, operations; floating gas solutions; and offshore marine services.
Publish date: Wed, 19 Jun 2024, 04:14 PM. The daily chart of Bumi Armada (ARMADA, 5210, Main Board Energy) closed at RM0.565 on June 18, up 1.0 sen or 1.80% on a daily basis, sideways between the support level and the rising trend line. Its daily relative strength index (RSI) indicator began to rise and is at 48.98.
Dec 31, 2023 · We continue to like Armada due to (i) its undemanding valuation in anticipation of bumper earnings in FY24f due to contribution from Armada Sterling V and (ii) current tight FPSO market which gives Armada an upper hand in negotiating favourable charter rates for any new job wins that may arise.
Bumi Armada and ONGC continue discussions to resolve the payment issues and move forward with full operations. The Armada Sterling V is India’s largest floater, with an oil processing capacity of 50,000 barrels per day, a gas capacity of 3 million cubic meters per day, and a crude storage capacity of 700,000 barrels.
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KUALA LUMPUR (May 30): Bumi Armada Bhd’s (KL:ARMADA) net profit for the first quarter ended March 31, 2024 (1QFY2024) rose 19.7% to RM240.54 million, versus RM201.01 million a year earlier, from higher vessel operations revenue.
