Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.12 |
Showing posts with label ARMADA. Show all posts
Showing posts with label ARMADA. Show all posts
April 22, 2015
April 15, 2015
Fresh contract for the year
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 1.12 |
August 20, 2014
ARMADA - Madura FPSO gig clinched as anticipated
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.51 |
May 26, 2014
BumiArmada - Unfavourable impact from lower utilisation rates
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.51 |
AllianceDBS maintains 'buy' for Bumi Armada
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
KUALA LUMPUR: AllianceDBS Research has maintained its 'buy' call on Bumi Armada Bhd due to the company's bright prospects and a strong RM32 billion orderbook.
Company Name: BUMI ARMADA BERHAD
| Research House: ALLIANCE | Price Call: BUY | Target Price: 2.65 |
KUALA LUMPUR: AllianceDBS Research has maintained its 'buy' call on Bumi Armada Bhd due to the company's bright prospects and a strong RM32 billion orderbook.
The research house also raised the global floating production, storage and offloading (FPSO) player's target price to RM5.15 from RM4.50 previously.
"While we lower 2014 and 2015 financial years earnings estimates by 5.0 per cent and 9.0 per cent, respectively, to reflect slower offshore support vessel (OSV) and transport and installation (T&I) businesses, we still expect a strong pick-up in earnings in subsequent quarters.
"This will be driven by the Kraken FPSO, new contribution from the Angola FPSO and seasonal pick up T&I and OSV in Malaysia and in the Caspian Sea," the
research firm said in a note today.
Meanwhile, Bumi Armada proposed a bonus and rights issue last week, which would raise an estimated gross proceeds of RM2.25 billion.
Of the total, RM1.76 billion would be used for capital expenditure and the balance for working capital and expenses for the proposals, the company said.
"Of the RM1.76 billion capital expenditure, 80 per cent will be used to fund a new FPSO project and the remainder for new OSV and T&I assets.
"We view that the rights issue is attractive for investors. As such, we recommend investors to subscribe their rights entitlement.
"Based on our indicative ex-all target price of RM2.65, upside is still significant at 15 per cent," the research house added.-- Bernama
April 1, 2014
ARMADA - Bags RM9.5bn LOI from Angola
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: JF APEX | Price Call: BUY | Target Price: 5.11 |
Bumi Armada - Second FPSO gig in 2014 - fleet rises to eight
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.62 |
February 20, 2014
ARMADA - 4Q13: Lower margins but better days ahead
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: JF APEX | Price Call: BUY | Target Price: 5.11 |
BumiArmada - Strong outlook of the FPSO industry
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.62 |
Research houses keep 'buy' on Bumi Armada
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Three research houses have maintained their 'buy' call on Bumi Armada Bhd due to its exciting start to the year, underlined by additional contributions from the Kraken floating production,
storage and offloading (FPSO) project, new offshore support vessels and progressive billings of its transportation and installation ventures.
Hwang DBS Vickers Research in its note said despite the company's disappointing fourth quarter financial year 2013 results, the earnings should normalise with the Kraken FPSO project, for a bigger impact starting from the first quarter of financial year 2014.
The international offshore oilfield services provider for the fourth quarter ended Dec 31, 2013 posted a lower pre-tax profit of RM87.401 million.
This is against the RM135.754 million in the same period a year ago, while recording higher revenue of RM556.714 million compared to RM477.768 million previously.
Hwang DBS Vickers also highlighted Bumi Armada's RM1.3 billion contract for the continued deployment of its Armada Perdana FPSO at the Oyo field, offshore Nigeria, for seven years from January 14.
Meanwhile, Alliance Research said Bumi Armada's earnings would also come from the Madura contract or even a contract from Angola, both of which the group has been quite positive on securing.
AmResearch, meanwhile, said the group's order book, including
options, had surged by 74 per cent from RM12.7 billion to RM22.1 billion, of which 60 per cent, are firm commitments.
Hwang DBS Vickers Research, Alliance Research and AmResearch maintained their 'buy' call on Bumi Armada with target prices of RM4.50, RM4.43 and RM5.15 respectively.-- Bernama
Company Name: BUMI ARMADA BERHAD
| Research House: ALLIANCE | Price Call: BUY | Target Price: 4.43 |
Three research houses have maintained their 'buy' call on Bumi Armada Bhd due to its exciting start to the year, underlined by additional contributions from the Kraken floating production,
storage and offloading (FPSO) project, new offshore support vessels and progressive billings of its transportation and installation ventures.
Hwang DBS Vickers Research in its note said despite the company's disappointing fourth quarter financial year 2013 results, the earnings should normalise with the Kraken FPSO project, for a bigger impact starting from the first quarter of financial year 2014.
The international offshore oilfield services provider for the fourth quarter ended Dec 31, 2013 posted a lower pre-tax profit of RM87.401 million.
This is against the RM135.754 million in the same period a year ago, while recording higher revenue of RM556.714 million compared to RM477.768 million previously.
Hwang DBS Vickers also highlighted Bumi Armada's RM1.3 billion contract for the continued deployment of its Armada Perdana FPSO at the Oyo field, offshore Nigeria, for seven years from January 14.
Meanwhile, Alliance Research said Bumi Armada's earnings would also come from the Madura contract or even a contract from Angola, both of which the group has been quite positive on securing.
AmResearch, meanwhile, said the group's order book, including
options, had surged by 74 per cent from RM12.7 billion to RM22.1 billion, of which 60 per cent, are firm commitments.
Hwang DBS Vickers Research, Alliance Research and AmResearch maintained their 'buy' call on Bumi Armada with target prices of RM4.50, RM4.43 and RM5.15 respectively.-- Bernama
January 24, 2014
Bumi Armada - Angola PSV gigs
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
ARMADA - Secures RM52.6m Angolan contract
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: JF APEX | Price Call: BUY | Target Price: 5.11 |
December 17, 2013
BumiArmada - African delight
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
December 4, 2013
BumiArmada - First job in the Ice-Class segment
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
November 18, 2013
BumiArmada - Received Kraken FPSO job award
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
August 21, 2013
BumiArmada - Highest PATAMI in six quarters
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
July 8, 2013
Filanovsky pipe-laying works
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
May 22, 2013
Starting the year on a positive note
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 4.83 |
March 18, 2013
RHB raises oil and gas to 'overweight'
Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
RHB Research upgraded Malaysia's oil and gas sector to 'overweight' from 'neutral', citing an improvement in jobs visibility as state-owned Petroliam Nasional Bhd pushes for domestic production growth.
"Petronas' focus on domestic production will benefit local service providers," the research house said in a note on Monday.
In anticipation of multiple contract awards, RHB said SapuraKencana Petroleum Bhd and Bumi Armada Bhd were its large-cap top picks while Alam Maritim Resources Bhd and Perdana Petroleum Bhd were its picks among the small caps.
"Production aside, exploration activities are also expected to be robust," RHB said.
RHB had a fair value of RM3.76 per share on SapuraKencana, RM4.35 on Bumi Armada, RM1.25 on Alam Maritim and RM1.40 on Perdana Petroleum.
As of 0156 GMT, SapuraKenanca dropped 0.98 per cent to RM3.03, Bumi Armada declined 1.06 per cent to RM3.72 while Alam Maritim dropped 0.57 per cent to 88 sen. Perdana Petroleum rose 0.79 per cent to RM1.27.
The benchmark stock index dropped 0.57 per cent. -- Reuters
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: RHB | Price Call: BUY | Target Price: 3.76 |
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 4.35 |
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
| Research House: RHB | Price Call: BUY | Target Price: 1.25 |
Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 1.40 |
RHB Research upgraded Malaysia's oil and gas sector to 'overweight' from 'neutral', citing an improvement in jobs visibility as state-owned Petroliam Nasional Bhd pushes for domestic production growth.
"Petronas' focus on domestic production will benefit local service providers," the research house said in a note on Monday.
In anticipation of multiple contract awards, RHB said SapuraKencana Petroleum Bhd and Bumi Armada Bhd were its large-cap top picks while Alam Maritim Resources Bhd and Perdana Petroleum Bhd were its picks among the small caps.
"Production aside, exploration activities are also expected to be robust," RHB said.
RHB had a fair value of RM3.76 per share on SapuraKencana, RM4.35 on Bumi Armada, RM1.25 on Alam Maritim and RM1.40 on Perdana Petroleum.
As of 0156 GMT, SapuraKenanca dropped 0.98 per cent to RM3.03, Bumi Armada declined 1.06 per cent to RM3.72 while Alam Maritim dropped 0.57 per cent to 88 sen. Perdana Petroleum rose 0.79 per cent to RM1.27.
The benchmark stock index dropped 0.57 per cent. -- Reuters
February 25, 2013
No earnings surprise, FPSO jobs outlook still hazy
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: MIDF | Price Call: HOLD | Target Price: 3.56 |
Subscribe to:
Posts (Atom)