BUMI ARMADA BERHAD

KLSE (MYR): ARMADA (5210)

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Last Price

0.585

Today's Change

+0.005 (0.86%)

Day's Change

0.575 - 0.585

Trading Volume

21,283,800


46 people like this.

71,168 comment(s). Last comment by Robert Waters 16 minutes ago

Posted by eugenewong794 > 2 months ago | Report Abuse

Higher crude oil prices might be good for this stock but its bad for inflation which central banks have been trying to bring down by raising interest rates, as well as bad for malaysia, cos of subsidised petrol, so higher crude oil prices might lead to inflation increasing which means interest rate staying higher for longer, hope the red sea incident gets resolved, either way investing in O&G is a good hedge against inflation

DickyMe

14,107 posts

Posted by DickyMe > 2 months ago | Report Abuse

Maybe, but not for long period.
Economy will be at stake when price increase and demand drops, which is an automatic reaction. When contraction happens every other activities shrink to fit demand of the time.
Hence, unemployment is certain and circulation of money shrinks. Domino effect!

Mabel

22,915 posts

Posted by Mabel > 2 months ago | Report Abuse

Haha don't worry...Santa is cuming to town..

NEW YORK (Dec 23): Wall Street is counting on the so-called Santa Claus Rally to bring record highs as markets close out 2023 with strong gains. The S&P 500 is up over 4% in December alone and has risen 24% this year, bringing it within 1% of a new all-time high. The benchmark index is also on track for its eighth straight positive week.

If history is any indication, that momentum is likely to continue in the short term. The end of the year tends to be a strong period for stocks, a phenomenon dubbed the “Santa Claus Rally”. The S&P 500 on average has gained 1.3% in the last five days of December and first two days of January, according to data from the Stock Trader's Almanac going back to 1969. Those gains have been pinned on reasons varying from buying before the new year following tax-related sales to general holiday hopefulness.

This year, optimism is high. The Federal Reserve (Fed) surprised investors earlier in December by signaling that its historic monetary policy tightening is likely over and projecting rate cuts into 2024, following signs that inflation is continuing to moderate. Data on Friday supported that trend, showing annual US inflation, as measured by the personal consumption expenditures price index, slowed further below 3% in November.

Bursa Malaysia is anticipated to stage a rebound next week, buoyed by continuous support from foreign funds and improving economic conditions. From a technical perspective, the FTSE Bursa Malaysia KLCI (FBM KLCI) failed to surpass the critical resistance level of 1,465 despite a few attempts, followed by four consecutive days of decline and broke below the 20-day exponential moving average (EMA) on Friday. However, as the index has managed to hold above its 50-day EMA, the odds of an upside move are increasing. Hence, we believe the benchmark index is still in a consolidation mode with a slight positive bias.

As such, we anticipate the benchmark index to trend within the 1,450-1,470 range for next week, with immediate support at 1,450 followed by 1,440. On a Friday-to-Friday basis, the FBM KLCI fell 7.87 points to end the week at 1,454.38 versus 1,462.25 a week ago.

Meow

vespa

785 posts

Posted by vespa > 2 months ago | Report Abuse

All quiet on the western front

Posted by Justaboylearning > 2 months ago | Report Abuse

wonder if Felix dumped all the shares

RayLee

133 posts

Posted by RayLee > 2 months ago | Report Abuse

Oil prices expected to remain flat in 2024...Seems like oil counters likely to remain flat as well

https://www.thestar.com.my/business/business-news/2023/12/28/oil-prices-expected-to-remain-flat-in-2024

nikicheong

2,250 posts

Posted by nikicheong > 2 months ago | Report Abuse

A sad and quiet end to the year. Here's to hoping there is a lot more positivity to come next year.

From what I gather, the Armada Sterling V is undergoing pre-commisioning works once again. The target remains to achieved first oil in the 2nd week of the new year.

Posted by Justaboylearning > 2 months ago | Report Abuse

Happy New Year Niki, fingers crossed for second week!

Posted by Robert Waters > 2 months ago | Report Abuse

Happy New Year 2024 to all BA interested. Let's hope for a revival of the stock next year.

zonefinder

216 posts

Posted by zonefinder > 2 months ago | Report Abuse

Happy New Year to our fellow Armadians. Be patient, our Time will come...

zonefinder

216 posts

Posted by zonefinder > 2 months ago | Report Abuse

Happy New Year to our fellow Armadians. Be patient, our Time will come...

myongcc5

708 posts

Posted by myongcc5 > 2 months ago | Report Abuse

HAPPY NEW YEAR!

8dragon

1,974 posts

Posted by 8dragon > 2 months ago | Report Abuse

The conclusion is, all IB TP has proven incorrect 😂😂

Tommy88

7 posts

Posted by Tommy88 > 2 months ago | Report Abuse

Many analysts call to BUY with much higher TP… but the the share is just not performing 😏

Jerichomy

4,220 posts

Posted by Jerichomy > 2 months ago |

Post removed.Why?

Jerichomy

4,220 posts

Posted by Jerichomy > 2 months ago |

Post removed.Why?

rohank71

728 posts

Posted by rohank71 > 1 month ago | Report Abuse

BA at 50 looks like there is 2 play...

rohank71

728 posts

Posted by rohank71 > 1 month ago | Report Abuse

When TunM goes down will BA another Astro?

Posted by ITreeinvestor > 1 month ago | Report Abuse

(Jan 3): Bumi Armada Bhd is poised for sequential earnings growth in the coming quarters, amid better quarter-on-quarter contributions from the Armada Kraken floating production storage and offloading (FPSO) unit, and first oil being achieved in Oil and Natural Gas Corporation Ltd's KG-DWN-98/2 in the coming weeks.

nikicheong

2,250 posts

Posted by nikicheong > 1 month ago | Report Abuse

According to my sources, the Armada Sterling V is once again ready to receive first oil. Awaiting for ONGC side now. Unknown as to how long this may take, but should be soon. Fingers crossed no more mishaps now!

Posted by Justaboylearning > 1 month ago | Report Abuse

Let’s go Niki , bought another 600 lot at 0.495

Posted by armadatuah2017 > 1 month ago | Report Abuse

Look at the buying queue volume....darn huge!!! 20 million shares

rohank71

728 posts

Posted by rohank71 > 1 month ago | Report Abuse

Looking bullish. Tech Analysis looks good for a rebound.

TimCoke

117 posts

Posted by TimCoke > 1 month ago | Report Abuse

good news soon

Posted by ITreeinvestor > 1 month ago | Report Abuse

stay tune

ONGC nears contract award on flagship offshore redevelopment project

https://www.upstreamonline.com/field-development/ongc-nears-contract-award-on-flagship-offshore-redevelopment-project/2-1-1577644

Posted by Justaboylearning > 1 month ago | Report Abuse

Can anybody bypass the paywall? Can't see

nikicheong

2,250 posts

Posted by nikicheong > 1 month ago | Report Abuse

@ITreeinvestor what's the relevance to Bumi Armada?

Posted by Felix666888 > 1 month ago | Report Abuse

Brokerage: Hong Leong Investment Bank Research

Investment advice: short-term buy

Available buying price: 45-48-49 cents

Upside target: 55-60-64 sen

Stop loss point: 40 cents


Closing price: 50 sen (as of January 3)


Armada (ARMADA, 5210, Mainboard Energy) retreated 32% from its 52-week high of 73 cents to 49.5 cents on Tuesday (January 3) and is currently trading near the long-term support area of ​​48 cents to 43 cents. Once it breaks above 52 sen, it marks the beginning of an uptrend.

In addition, the additional key support levels of 45 sen and 43 sen will provide a buffer for further declines. Once the uptrend begins, there is an opportunity to move higher to 55-60-64 sen levels, with a stop loss of 40 sen.

The company expects sequential earnings growth in the coming quarters on better quarter-on-quarter contribution from the Kraken floating production, storage and offloading (FPSO) vessel, coupled with the addition of the ONGC KG-DWN-98/2 The project will produce its first oil in the coming weeks, allowing Armada Sterling V to make a significant contribution following final acceptance in the first quarter of this year.

Looking forward, Armada Sterling V's first contribution in fiscal 2024 is expected to be a booster for the company's earnings, driving net profit to grow by 11.2% year-on-year

Posted by Felix666888 > 1 month ago | Report Abuse

My biggest investment holding still Armada.

Posted by Justaboylearning > 1 week ago | Report Abuse

wonder if Felix dumped all the shares

KimSua

385 posts

Posted by KimSua > 1 month ago | Report Abuse

net short position peak 0.95/0.96 this week (tue/wed) short covering till 0.93% yesteday, i see the same trend today. So...don't miss the boat

TimCoke

117 posts

Posted by TimCoke > 1 month ago | Report Abuse

buy now before its too late ya

8dragon

1,974 posts

Posted by 8dragon > 1 month ago | Report Abuse

Another dull year for O&G counters as oil prices will be traded within
70-80/pb...

Mabel

22,915 posts

Posted by Mabel > 1 month ago | Report Abuse

Why Are Billionaires Loading Up On Oil?

The most powerful investors in the world are loading up on energy investments.
Warren Buffett invested over $50 BILLION.
Billionaire Ken Griffin increased his holdings by 150%.
Carl Icahn has made a billion-dollar bet!

Why exactly?

It may be because they see a continued rise of oil on the way.
JP Morgan analysts have pegged the future price of oil at $380 per barrel.
That would send oil companies skyrocketing.

Future Meownaires

nikicheong

2,250 posts

Posted by nikicheong > 1 month ago | Report Abuse

Expect some very good news by tomorrow if no other issue crops up. Armada Sterling V will achieve first oil imminently within the next 24 hours.

KimSua

385 posts

Posted by KimSua > 1 month ago | Report Abuse

Winter snow storm to hit east coast USA and northern Europe. Polar vortex is back this year. Impacting oil production and increase in heating oil. Until Feb.

RISK8888

2,226 posts

Posted by RISK8888 > 1 month ago | Report Abuse

This time betul happening? No more delay?

RISK8888

2,226 posts

Posted by RISK8888 > 1 month ago | Report Abuse

Macam yes and macam no saja.

KimSua

385 posts

Posted by KimSua > 1 month ago | Report Abuse

Sudah 2024 Bro

Sslee

4,091 posts

Posted by Sslee > 1 month ago | Report Abuse

Sorry mistaken 2023 news on Sterling V.
No wonder Armada price stangnant, it has been more than one year since FPSO Sterling V successfully hooked up with the buoy mooring system on end Dec 2022

nikicheong

2,250 posts

Posted by nikicheong > 1 month ago | Report Abuse

It is done. First oil has been achieved at Armada Sterling V!

RISK8888

2,226 posts

Posted by RISK8888 > 1 month ago | Report Abuse

Betul kah? Next Monday will be announce?

Posted by Leejunhan366 > 1 month ago | Report Abuse

Great news.

8dragon

1,974 posts

Posted by 8dragon > 1 month ago | Report Abuse

Another difficult year for O&G sector....

vespa

785 posts

Posted by vespa > 1 month ago | Report Abuse

Long last

KimSua

385 posts

Posted by KimSua > 1 month ago | Report Abuse

Both techinals and fundamental so are strong next week. Should see better movement. Good luck

nikicheong

2,250 posts

Posted by nikicheong > 1 month ago | Report Abuse

India’s state-controlled Oil & Natural Gas Corporation (ONGC) has kick-started oil production from its much-delayed flagship deepwater project in the Krishna Godavari basin offshore the nation’s eastern coast.

ONGC on Sunday confirmed the development and said that it has achieved “first oil production from the deepwater KG-DWN-98/2 block, situated off the coast of Bay of Bengal.”

The Indian giant noted that with the commencement of oil production from the 'M field' in the deepwater block, it has completed the project’s second phase of development.

“The flagship project is on track with final phase of the project planned to be completed by June and then onwards commencement of gradual ramping up to reach planned peak production of 45,000 barrels of oil per day and 10 million cubic metres per day (MMcmd) of gas from the deepwater KG-DWN-98/2 block,” it added.

However, ONGC did not reveal the initial oil production level achieved from the offshore asset.

https://www.upstreamonline.com/production/ongc-fires-up-oil-production-from-flagship-deepwater-asset/2-1-1579895

rohank71

728 posts

Posted by rohank71 > 1 month ago | Report Abuse

tq Niki for the update

RayLee

133 posts

Posted by RayLee > 1 month ago | Report Abuse

HLIB maintained its "buy" call on Bumi Armada, with a target price of 71 sen

https://theedgemalaysia.com/node/695950

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