【ARMADA 5210 交流专区】布米亚马大

icy97

布米阿马达获48亿银团贷款

财经新闻 财经  2015-12-30 12:08
（吉隆坡29日讯）布米阿马达（ARMADA，5210，主板贸服股）宣布，子公司Armada Cabaca有限公司获得银团贷款，总值不超过11亿1970万2500美元（约48亿744万令吉）。

根据文告，上述贷款包括一个定期贷款融资、信贷额度的备用信用证和银行担保机制。

提供贷款的银行，包括法国工商银行、意大利联合圣保罗银行、德国复兴信贷银行、韩国产业银行、阿联酋阿布扎比银行、法国外贸银行、华侨银行、法国兴业银行、标准渣打银行和三井住友銀行。

Armada Cabaca主要经营租船、海洋支援等服务，给岸外的油气公司。

值得注意的是，该公司是Armada Olombendo浮式生产储卸油轮（FPSO）的船主。

根据去年8月19日所签署的合约，该油轮将租给意大利的EniAngola S.p.A，为安哥拉（Angola）岸外的油田提供服务。

公司表示，贷款是为了让Armada Cabaca能为项目进行部分融资，应对所有关于收购、转换、翻新、动员、运输及安装FPSO的成本及开销。

当中包括所有合约相关配套及相关工程。

布米阿马达表示，贷款会涉及融资成本，预计会推高负债率，但执行合约最终能贡献净资产和净利。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD - ACCEPTANCE OF A SYNDICATED FACILITY COMPRISING A TERM LOAN FACILITY, A STANDBY LETTER OF CREDIT FACILITY AND A BANK GUARANTEE FACILITY NOT EXCEEDING THE AGGREGATE AMOUNT OF USD1,119,702,500
1. Introduction Bumi Armada Berhad (“Bumi Armada” or the “Company”) wishes to announce that its wholly-owned subsidiary, Armada Cabaca Ltd. (“Armada Cabaca” or the “Borrower”) has secured a syndicated facility comprising: (a) a term loan facility; (b) a standby letter of credit facility; and (c)  a bank guarantee facility not exceeding the aggregate amount of USD1,119,702,500 (“Facility”) pursuant to a Facility Agreement dated 23 December 2015 (“Facility Agreement”). The lenders of the Facility are Credit Industriel et Commercial, Intesa Sanpaolo S.p.A., KfW IPEX-Bank GmbH, The Korea Development Bank, National Bank of Abu Dhabi PJSC, Natixis, Oversea-Chinese Banking Corporation, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation. 2. Information on Armada Cabaca Armada Cabaca, a company incorporated in the Republic of The Marshall Islands, is a wholly-owned subsidiary of Bumi Armada Offshore Holdings Limited ("BAOHL") which in turn, is a wholly-owned subsidiary of Bumi Armada. The principal activities of Armada Cabaca are as ship owners, charterers, managers of ships and vessels, marine support and other services to offshore oil & gas companies. Armada Cabaca is the owner of the floating production, storage and offloading vessel named “Armada Olombendo” (the “FPSO”). The FPSO is to be chartered to Eni Angola S.p.A pursuant to a contract dated 19 August 2014 (“Contract”) entered into by BAOHL and a joint venture company, Angoil Bumi JV Lda, as a consortium, for the provision of FPSO services for the Block 15/06 East Hub Field Development located offshore Angola (“Project”). 3. Information on the Facility The Facility is intended for Armada Cabaca, amongst others, to part-finance the Project, reimburse all costs and expenses in relation to the acquisition, conversion, refurbishment, mobilization, transportation, hook-up, mooring and installation of the FPSO, together with all ancillary and related works, pursuant to the Contract. The final maturity of: (a) the term loan and standby letter of credit facilities shall fall on the earlier of the following: i. the last repayment date in accordance with the agreed repayment schedule under the Facility Agreement; and ii. the date falling twelve (12) years from the date of the Facility Agreement. (b) the bank guarantee facility shall fall on the date on which final acceptance is achieved, in accordance with the terms of the Facility Agreement. 4. Effects of the Facility 4.1 Issued and Paid-up Share Capital and Substantial Shareholding The Facility is not expected to have any effect on the issued and paid-up share capital of Bumi Armada or the substantial shareholders’ shareholdings in Bumi Armada. 4.2 Net Assets (“NA”) and Earnings Bumi Armada Group will incur finance costs in respect of the Facility. After taking into account these finance costs, the Contract is expected to contribute positively to the NA and earnings of the Bumi Armada Group. 4.3 Gearing Upon utilization, the Facility is presently expected to increase the gearing of Bumi Armada Group. 5. Directors’ Recommendation The Board of Directors of Bumi Armada is of the opinion that the Facility is in the best interest of the Company. 6. Directors’ and Major Shareholders’ Interests None of the Directors and/or Major Shareholders of the Company or persons connected with them have any interest, direct or indirect in the said Facility. This announcement is dated 28 December 2015.

icy97

3計劃如期進行‧阿瑪達現金流將改善

2016-01-06 16:52      
（吉隆坡6日訊）阿瑪達（ARMADA，5210，主板貿服組）目前估值的下跌空間有限，特別是旗下海上浮式生產儲油船計劃如期推行，即在2016年杪完成後提供顯著現金流，使分析員下調其淨利預測之余，上調其目標價及評級。

艾芬黃氏研究指出，阿瑪達旗下3項海上浮式生產儲油船（Kraken、Olombendo、Rainbow-1）及浮動存儲裝置-Malta計劃正如期進行，預料將在2016年杪完成，並從明年開始為公司提供顯著的現金流。

阿瑪達正競標數項海上浮式生產儲油船計劃，它們包括在納米比亞、尼日利亞及越南，預料將在2016年首半年有結果。

“預料阿瑪達旗下的岸外支援船、及運輸與裝置領域在2015財政年仍蒙受虧損，該行預期其岸外支援船業務將蒙虧至2017年財政年。”

目前該公司的岸外支援船隊的使用率，從2014年第四季的79%下跌至2015年第三季的54%，若是2016年的新合約沒有回溫，預料2016年杪將可能跌至42%。

縱然岸外支援船沒有新合約，惟它在2016財政年仍可為公司帶來正面的現金流，因目前持有的工程合約，仍可在2016年足以支持其逾42%的使用率。該公司的35%使用率即可達到無盈虧水平。

該公司旗下的岸外支援船業務在2015年的營運虧損料達5千870萬令吉、2016年為8千130萬令吉、及2017年為5千200萬令吉，平均船只使用率分別為58%、50%及60%。惟幸它們尚可取得正面的現金流。

該公司旗下的運輸及裝置業務，自2015年第二季即開始蒙受虧損，主要是低使用率及缺乏新合約，預料2015年第四季依然虧損，全年營運虧損料達1千780萬令吉，直至2016年才有望好轉，特別是2016年第二季的Lukoil訂單將獲得較高賺幅。

該行將阿瑪達2015財政年的每股淨利預測下調8%、2016年輕微上調2%、2017年則下調30%，主要是考慮到較高的利息開銷、海上浮式生產儲油船業務在2015至2017年料沒有攫取任何合約、較高有效稅率、及對其岸外支援船及運輸與裝置業務採取較為謹慎假設。

財測下修
評級目標價調高

該行雖下調阿瑪達的淨利預測，惟卻將估值上調至1令吉2仙，評級從“沽售”

上調至“守住”，因獲得海外浮式生產儲油船及浮式天然氣解決方案較高企業價值支撐，特別是將外匯假設定在1美元兌4令吉20仙價位。（星洲日報／財經‧報導：李文龍）


布米阿马达 下跌空间有限
财经 股市 行家论股  2016-01-07 13:00
http://www.nanyang.com/node/742717?tid=462

icy97

布米阿马达 岸外支援船续亏损

财经 行家论股  2016-01-15 11:37

目标价：94仙

最新进展
随着目前国际原油价格重挫，油气领域正面对重重挑战，相关领域活动减少。

在这情况下，布米阿马达（ARMADA，5210，主板贸服股）股价节节下跌，而去年8月至今，股价在80仙至1.12令吉之间波动。

目前，浮式生产储卸油轮（FPSO）业务，仍然是该公司的收益来源，并且正在纳米比亚、尼日利亚和越南竞标FPSO项目，预计年中有答案。

行家建议
油气业虽然低迷，但我们相信，投资者能够从中获得有收益的投资机会；若没有任何企业新闻，短期内，布米阿马达的股价持续在80仙至1.12令吉之间波动。

目前，布米阿马达的订单额为290亿令吉，其中88%来自FPSO项目、8%来自岸外支援船（OSV），以及4%来自运输与安装（T&I）项目。

该公司只有47%船舶的OSV合约有效期到2017年或以后，我们预测，在未来数个季度中，OSV领域持续蒙受亏损。

我们保留净利预测，维持“中和”评级和94仙目标价。



MIDF 投资研究

【南洋网财经】

ahpiewking

太谢谢你了，你的资料太好了，我找了好久

icy97

布米阿马达全年亏2.35亿 末季亏损恶化

财经新闻 财经  2016-02-27 14:17
（吉隆坡26日讯）布米阿马达（ARMADA，5210，主板贸服股）截至去年12月杪第4季，净亏8508万令吉或每股净亏1.45仙，比前年同季的5256万令吉亏损更严重，但仍宣布派息0.82仙。

布米阿马达在文告中指出，公司在当季呆账拨备、资产注销和减值亏损，总值1.833亿令吉，因而拖累净利表现。

第4季营业额按年跌16.07%，至5亿8904万2000令吉，归咎于资产使用率低企，拖累收入减少。

布米阿马达代总执行长陈智敏表示，公司在当季对还未收回的款项，拨出资金作为拨备，但接下来会设法收回这些款项。

“扣除了这些拨备，公司当季将取得1.42亿令吉的净利。”

合计全年，公司净亏2亿3456万5000令吉或每股净利4仙，2014财年则净赚2亿1869万令吉。

全年营业额按年减少9.08%，报21亿7973万4000令吉。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2015	31 Dec 2014	31 Dec 2015	31 Dec 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	589,042	701,832	2,179,734	2,397,339
2	Profit/(loss) before tax	-104,011	-32,551	-171,392	309,182
3	Profit/(loss) for the period	-86,864	-54,968	-241,777	224,365
4	Profit/(loss) attributable to ordinary equity holders of the parent	-85,080	-52,560	-234,566	218,690
5	Basic earnings/(loss) per share (Subunit)	-1.45	-0.87	-4.00	4.32
6	Proposed/Declared dividend per share (Subunit)	0.82	1.63	0.82	1.63
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.2400		1.1500

icy97

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD- CHANGE IN UTILISATION OF PROCEEDS RAISED FROM THE RIGHTS ISSUE
On 13 October 2014, Bumi Armada Berhad (“Bumi Armada” or “Company”) completed a renounceable rights issue of 1,466,567,350 new ordinary shares of RM0.20 each at an issue price of RM1.35 each, pursuant to the Circular to its shareholders dated 23 June 2014 (“Circular”), and the Abridged Prospectus dated 12 September 2014 (“Abridged Prospectus”) (“Rights Issue”). Bumi Armada raised gross proceeds of RM1,979.9 million from the Rights Issue (“Rights Proceeds”). Pursuant to Paragraph 9.19(32) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors (“Board”) of Bumi Armada wishes to announce that it has approved further changes to the manner of utilization of the Rights Proceeds, from those disclosed on page 11 of the Abridged Prospectus and announced on 1 July 2015. 1. With respect to the previous allocation of RM80.0 million of the Rights Proceeds to the Transport and Installation (“T&I”) business unit, RM59.9 million has been reallocated to the Floating Production, Storage and Offloading Operations (“FPSO”) and the Floating Gas Solutions (“FGS”) business units. 2. With respect to the previous allocation of RM160.0 million to the Offshore Support Vessel (“OSV”) business unit, RM94.1 million has been reallocated to the FPSO/FGS business units. 3. As a result of paragraphs 1 and 2 above, the previous allocation of RM1,520.0 million to the FPSO/FGS business units has been increased to RM1,674.0 million. The reallocation of the Rights Proceeds reflects the continued weakness in the OSV and T&I markets and is in line with the Bumi Armada Group’s overall strategy of focusing on its core FPSO/FGS businesses. This announcement is dated 26 February 2016.

icy97

Woodside 能源单方面终止合约 布米阿马达将采法律行动

财经新闻 财经  2016-03-05 10:09
（吉隆坡4日讯）布米阿马达（ARMADA，5210，主板贸服股）接获澳洲Woodside能源公司单方面提出的合约终止，认为该合约终止无效，因此将采取法律行动。

根据文告，独资子公司阿马达Balnaves有限公司（ABPL）接获Woodside能源公司单方面终止阿马达Claire浮式生产储卸油轮（FPSO）合约的通知。

阿马达Claire浮式生产储卸油轮是在澳洲北部Balnaves油田运作。

布米阿马达认为，Woodside能源公司单方面提出的终止合约无效，相等于违反合约，因此要维护公司在这项合约的权利，如采取法律行动。

这项合约终止将影响布米阿马达本财年的业绩表现，不过影响程度暂无法确定，需胥视公司对Woodside能源公司采取的法律行动结果。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD-        PURPORTED TERMINATION OF CONTRACT
Bumi Armada Berhad’s ("Bumi Armada" or the "Company") wholly-owned subsidiary Armada Balnaves Pte. Ltd. (“ABPL”), has received a Notice of Termination from Woodside Energy Julimar Pty Ltd (“Woodside”) purporting to terminate the contract in relation to the charter of the Armada Claire Floating Production Storage and Offloading ("FPSO") unit ("Contract"), which has been operating in the Balnaves Field, off north-western Australia since delivering first oil in August 2014. Bumi Armada’s position is that the purported Notice of Termination is not valid, and in fact tantamount to a cancellation for convenience or alternatively, is a repudiation of the Contract by Woodside, pursuant to which the Company is entitled to compensation from Woodside. The Company intends to fully enforce its rights under the Contract, including initiating legal proceedings against Woodside for its unlawful purported termination of the Contract. Financial Impact The purported termination of the FPSO charter contract is expected to have an impact on the full year 2016 financial results of the Company, the extent of which cannot be conclusively ascertained at this juncture as it will depend on the outcome of the Company’s legal action against Woodside. This announcement is dated 4 March 2016.

icy97

阿瑪達受壓

2016-03-05 16:43      
（吉隆坡5日訊）阿瑪達（ARMADA,5210,主板貿服組）旗下浮式生產儲油卸油船——阿瑪達克萊里船合約被終止，現正受到來自融資銀行財團的壓力。

阿瑪達上週五宣佈，阿瑪達克萊里在澳洲西北部的巴爾內弗斯油田運作的合約，已被Woodside Energy Julimar所終止。

阿瑪達克萊里的融資銀行財團，包括日本的三井住友銀行及法國的外貿銀行（Natixis）。目前阿瑪達克萊里已經沒有任何租約。

消息向《The Edge》透露，阿瑪達正為合約終止進行賠償洽商，不過，詳細情況不明，因為終止原因不詳。據悉，自2014年以來，阿瑪達克萊里與Woodside即傳出不和。

據瞭解，銀行財團要求阿瑪達為阿瑪達克萊里4年合約期提供擔保，這是很不尋常的，因為通常在船只建造期間才需要擔保。

巴爾內弗斯油田擁有1千700萬桶石油及300億立方尺的天然氣，生產成本為4億3千800萬美元（約14億令吉）。

消息指出，阿瑪達克萊里是特為巴爾內弗斯油田而設，若是充當其他新合約用途，需要改造及更多的資金。

截至2015年杪，阿瑪達現金盈余萎縮至15億2千萬令吉，比前期的33億令吉低得多，而長期債則增加至62億6千萬令吉（前期為51億7千萬令吉）。（星洲日報／財經‧The Edge專版）

APULA

FPSO合約終止‧阿瑪達3年財測下調
2016-03-07 17:13  
http://biz.sinchew.com.my/node/132610?tid=18
   
（吉隆坡7日訊）阿瑪達（ARMADA,5210,主板貿服組）浮式生產儲油卸油船（FPSO）合約遭終止，分析員憂慮會產生骨牌效應，進一步打擊未來盈利前景，紛紛下砍未來3年財測。

阿瑪達是在上週五宣佈旗下浮式生產儲油卸油船——阿瑪達克萊里船合約被終止，各大證券行對此大感不妙，憂慮集團盈利前景將大受打擊。

馬銀行研究初步評估發現，這將對阿瑪達營運和財政帶來重大打擊。



淨利稀釋11至28%

“一般來說，當FPSO在中期遭解約，業者將取得適當的賠償。有關事件全面發酵可能稀釋阿瑪達2016至2018財政年淨利11至28%，並導致現有目標價潛存22仙下調風險。”

更糟的是，大馬研究和肯納格研究憂慮這可能只是惡夢的開始，阿瑪達其餘FPSO工程也可能岌岌可危，其中前者更點名EnQuest的Kraken工程可能在油價冗長低迷的情況下，面對財政能見度壓力。

肯納格研究說，阿瑪達4大FPSO工程轉換進展順利，有望在今年7月開始交接，同時阿瑪達Perkasa合約雖獲延長一年，但憂慮集團可能需要對此進行呆賬撥備，進一步加深FPSO合約的可持續性隱憂。

但大眾研究認為，阿瑪達未來盈利催化因素將由4大FPSO和浮動氣體解決方案（FGS），主要是相關工程預定在2016財政年杪開採首油。

“此外，該公司盈利表現也將繼續由高達275億令吉的訂單及153億令吉的可選擇延長合約拉動。”

不過，綜合上述意見，各大證券行紛紛下砍阿瑪達未來盈利目標，其中聯昌研究下砍2016至2018財政年每股盈利目標11至12%。

或導致股票風險盈利上揚

投資前景同樣不樂觀，艾芬黃氏研究表示，阿瑪達在認列1億8千300萬令吉壞賬撥備後，這項FPSO合約終止可能導致投資者對FPSO前景感到憂慮，因盈利和現金流已不如預期般穩健，可能導致股票風險盈利上揚。

“我們預測風險盈利每上揚10基點，將削弱阿瑪達目標價2仙。”

豐隆研究說，克萊里船估值為每股16仙，基於訴訟結果不明朗，決定將相關估值剔除在外，而油價低迷也讓集團難以尋找新客戶，評級和目標價雙雙下調。

FPSO合約取消打擊投資者信心，阿瑪達今日賣聲四起，股價最低見75仙，挫25仙或25%，終場收在79仙，跌21仙。（星洲日報／財經‧報道：洪建文）


FPSO 合约遭中止冲击净利 布米阿马达盘中挫25%
财经新闻 财经  2016-03-08 11:02
http://www.nanyang.com/node/751522?tid=462

icy97

遭客户中止FPSO合约 布米阿马达采取法律行动

财经新闻 财经  2016-03-10 11:57
（吉隆坡9日讯）布米阿马达（ARMADA，5210，主板贸服股）遭客户中止浮式生产储卸油轮（FPSO）合约后，将对此展开法律行动。

布米阿马达在回应马交所咨询的文告中指出，负责该合约的独资子公司Armada Balnaves公司（ABPL），有意针对客户澳洲Woodside能源公司“不合法地所谓中止”合约的行为，全面履行合约当中的权利，包括采取法律行动。

这项合约受到西澳洲省的法律管制，因此，公司将在当地法庭寻求有关裁决。

此外，公司也指出，ABPL并不是重要子公司，且该合约遭到中止的事件，预计不会对公司其他FPSO的营运，带来严重冲击。

合约价值14.6亿“为了保护公司在此事件中的权利，目前并不适宜给予进一步的回应，不过，公司会在适当时候，公布相关进展。”

根据文告，ABPL是在2011年9月，与Apache能源公司签署合约，以委派阿马达Claire油轮到澳洲北部Balnaves油田，提供相关服务。

在获颁此合约时，合约价值约为14.6亿令吉。

而自阿马达Claire油轮在前年8月运输第一批石油，该油轮就一直在Balnaves油田展开运作。

接着，这项合约在去年5月，转到Woodside能源公司的手中。

该合约最初的定期出租期限是4年，在2018年8月截止，另有四个长达一年的延长选择权。

上周五（4日），布米阿马达接获Woodside能源公司，单方面宣布中止阿马达Claire油轮在Balnaves油田的运作。

布米阿马达当时指出，Woodside能源单方面中止合约是无效的，因此将考虑采取法律行动。【南洋网财经】

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-07032016-00003
Subject	Purported Termination of Contract
Description	BUMI ARMADA BERHAD ("BAB" OR THE "COMPANY")- PURPORTED TERMINATION OF CONTRACT
Query Letter Contents	We refer to your Company’s announcement dated 4 March 2016 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1) Brief details of the Contract. 2) Date of receive of the Notice of Termination. 3) Details of the events and/or circumstances leading to the Notice of Termination. 4) Recourse available to Bumi Armada Berhad and/or Armada Balnaves Pte Ltd ("ABPL") under the Contract. 5) Whether ABPL is a major subsidiary of Bumi Armada Berhad. 6) Whether any operational impact to the Group.
BAB wishes to respond to the letter from Bursa Malaysia Securities Berhad ("Bursa Securities") dated 7 March 2016, whereby Bursa Securities has requested the Company to provide additional information as follows: 1.   In September 2011, Armada Balnaves Pte Ltd (“ABPL”), a wholly owned subsidiary of Bumi Armada Berhad (“BAB”), entered into a contract with Apache Energy Ltd for the provision and charter of a floating production storage and offloading (“FPSO”) vessel (“Armada Claire”) for the Balnaves Field, off North West Australia (“Contract”). The Contract was subsequently novated to Woodside Energy Julimar Pty Ltd (“Woodside”) in May 2015.  The Armada Claire has been operating in the Balnaves Field since delivering first oil in August 2014. The Contract is for an initial fixed term charter of 4 years expiring in August 2018, with options for 4 annual extensions. The Contract was valued at approximately Ringgit Malaysia 1.46 billion, at the time of award. 2.   ABPL received the purported notice of termination on 4th March 2016. 3.   ABPL takes the position that the purported Notice of Termination is not valid. As ABPL intends to fully enforce its rights under the Contract, including initiating legal proceedings against Woodside for its unlawful purported termination of the Contract, it would not be appropriate to provide further comments at this stage as to the circumstances leading to the purported Notice of Termination, in order not to prejudice its rights on this matter. BAB will be disclosing the relevant details at the appropriate time, as soon as it is able to do so. 4.   The Contract is governed by the laws of Western Australia and legal remedies (including damages for breach of contract) will be sought in the courts of Western Australia. 5.   ABPL is not a major subsidiary (as such term is defined under the Main Market Listing Requirements of Bursa Securities) of BAB. 6.   This purported Notice of Termination is not expected to have any material impact on the operations of the BAB Group’s other FPSO vessels. This announcement is dated 8 March 2016.

icy97

布米阿马达发中止通知 保留向Woodside索偿

财经新闻 财经  2016-03-13 11:35
（吉隆坡12日讯）布米阿马达（ARMADA，5210，主板贸服股）发出中止合约通知，给Woodside Energy Julimar有限公司（简称Woodside），并保留索偿权利。

根据文告，上述通知是由子公司Armada Balnaves私人有限公司（简称ABPL）发出，主要针对Armada Claire浮式生产储卸油轮（FPSO）的租船合约。

布米阿马达称，该公司与ABPL的立场是，Woodside已在上周五（4日）发出中止通知，也表明了不愿意受到合约条款束缚的意愿。

这相等于毁约，让ABPL有权中止合约。

因此，ABPL将保留向Woodside索偿的权利。

若有任何显著进展，布米阿马达将作出及时更新。

布米阿马达于周三（9日）宣布，遭Woodside终止合约后，将对此展开法律行动。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD- TERMINATION OF CONTRACT
Further to the announcements made on 4 March 2016 and 8 March 2016, Bumi Armada Berhad (“Bumi Armada”) wishes to announce that its wholly owned subsidiary Armada Balnaves Pte Ltd (“ABPL”) has, on 11 March 2016, issued a notice of termination of contract to Woodside Energy Julimar Pty Ltd (“Woodside”) in relation to the contract for the charter of the Armada Claire Floating Production Storage and Offloading unit (“Contract”). Bumi Armada’s and ABPL’s position is that Woodside had, by the issuance of the purported Notice of Termination dated 4 March 2016 and its subsequent conduct, evinced, and continued to evince, an intention to no longer be bound by the terms of the Contract. This amounted to a repudiation of the Contract which entitled ABPL to terminate the Contract. ABPL reserves the right to claim damages against Woodside for its breach of the Contract. Bumi Armada will continue to provide updates from time to time on any further material development on this matter. This announcement is dated 11 March 2016.

icy97

布米阿马达向澳客户索赔

财经新闻 财经  2016-03-15 12:33
（吉隆坡14日讯）布米阿马达（ARMADA，5210，主板贸服股）独资子公司Armada Balnaves公司（ABPL），在西澳最高法院对中止合约的客户澳洲Woodside能源公司，发出诉状（Writ of Summons）和追讨赔偿。

根据该项诉状，ABPL要求Woodside能源发出中止合约的声明，以及追讨毁约的赔偿金，这将会在较后的阶段才计算。

此外，还包括要求根据合约已完成的工作和提供的材料赔偿6619万1153澳元（约2亿490万9令吉），以及法院认为需赔偿的利益、成本及其他金额。

早前，布米阿马达表示，接获Woodside能源单方面宣布中止阿马达Claire油轮在Balnaves油田的运作。

布米阿马达当时指出，Woodside能源单方面中止合约是无效的，因此将考虑采取法律行动。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD- FILING OF WRIT OF SUMMONS IN THE SUPREME COURT OF WESTERN AUSTRALIA AGAINST WOODSIDE ENERGY JULIMAR PTY LTD
Further to the announcements made on 4 March 2016, 8 March 2016 and 11 March 2016 respectively, Bumi Armada Berhad (“Bumi Armada”) wishes to announce that its wholly owned subsidiary, Armada Balnaves Pte Ltd (“ABPL”), has today, on 14 March 2016, filed a Writ of Summons in the Supreme Court of Western Australia against Woodside Energy Julimar Pty Ltd (“Woodside”) in relation to the contract for the charter of the Armada Claire Floating Production Storage and Offloading unit (“Contract”). ABPL has today, 14 March 2016, filed a Writ of Summons (“Writ”) in the Supreme Court of Western Australia claiming for (1) a declaration that the Contract was repudiated by Woodside purporting to terminate the Contract by issuing the Notice of Termination dated 4 March 2016 to ABPL, (2) damages for breach of contract in respect of such repudiation, the amount of which will be quantified at a later stage (3) the additional sum of US$66,191,152.56 for work done and materials supplied pursuant to the Contract, and (4) interest, costs and such other relief as the Court may think fit. Bumi Armada will continue to provide updates from time to time on any further material development on this matter. This announcement is dated 14 March 2016.

icy97

FPSO合約終止訴訟案‧阿瑪達或取回部份投資

2016-03-15 17:08      
（吉隆坡15日訊）阿瑪達（ARMADA，5210，主板貿服組）向法院提出訴訟，狀告Woodside Energy Julimar，訴訟內容包括：一、隨意終止其浮式生產儲油卸油船（FPSO）合約；二、賠償合約損失的費用；三、追加賠償6千620萬美元（約2億7千300萬令吉）的材料費；四、利息及成本各項開支。

早前，Woodside Energy Julimar終止與阿瑪達其浮式生產儲油卸油船（FPSO）合約。阿瑪達認為這是不合法行動，因此採取包括法律行動以保護公司在合約中的權益。

分析
豐隆研究表示，阿瑪達採取訴訟，意味該公司可能可取回當地部份的投資，這比預測來得好，因早前分析員預期阿瑪達遭終止合約後，並無法取得任何收益。

大馬研究表示，Woodside終止FPSO合約，並非是句點，若油氣領域持續低靡至年杪，該公司EnQuest公司的Kraken的FPSO也可能會面對同樣的風險。

豐隆認為，Woodside承諾在2016年，將撥出15億美元（約61.5億令吉）給資本開銷，主要用於Whatstone液化天然氣（LNG）及Pluto項目，相信Woodside並不會全數支付上述數額。

豐隆補充，上述訴訟的6千620萬美元屬於額外賠償，並未包含在原有的合約。基於訴訟程序冗時，再加上油氣領域低靡，因此豐隆保守看待上述的訴訟。

大馬研究說，阿瑪達可能會面臨終止合約的風險，但也在努力尋找替補合約，包括巴西及越南，預期今年內可獲得辦法。

大馬研究假設EnQuest 2016財政年將虧損5千600萬英鎊（約3億3千萬令吉）。不過，EnQuest市值僅是阿瑪達的12%，EnQuest市值報1億2千英鎊（7億零600萬令吉）。



（星洲日報／財經‧報導：謝汪潮）

icy97

Date of change	16 May 2016
Name	MR LEON ANDRE HARLAND
Age	46
Nationality	Netherlands
Designation	Chief Executive Officer
Directorate	Executive
Type of change	Appointment
Qualifications	Master of Science Degree - Civil (Offshore) Engineering from Delft University of Technology, The Netherlands, 1994.
Working experience and occupation	1994 - Offshore Engineer, Shell Research, Rijswijk, The Netherlands.1995 - 1998 - Research Scientist, Delft University of Technology, Delft, The Netherlands, Shell Oil Research, Houston, USA.1998 - 2000 - Concept Lead Engineer, SBM, Monaco.2000 - 2001 - Proposal Manager, SBM, Monaco.2001 - 2004 - Project Manager, SBM.2004 - 2008 - Vice-President Gas Business Development, SBM Offshore, Monaco.2008 - 2011 - Director FLNG Business, SBM Offshore, Monaco.2012 - 2013 - Senior Vice-President Commercial, Heerema Marine Contractors, The Netherlands.2013 - Present - Executive Vice-President Commercial & Technology, Heerema Marine Contractors, The Netherlands.
Directorship of public companies (if any)	None
Family relationship with any director and/or major shareholder of the listed issuer	None
Any conflict of interests that he/she has with the listed issuer	None
Details of any interest in the securities of the listed issuer or its subsidiaries	None
Due Date for MAP	16 Sep 2016

icy97

Date of change	16 May 2016
Name	MR CHAN CHEE BENG
Age	60
Nationality	Malaysia
Type of change	Redesignation
Previous Position	Chief Executive Officer
New Position	Non Executive Director
Directorate	Non Independent and Non Executive
Qualifications	Degree in Economics and Accounting from the University of Newcastle-upon-Tyne in the United Kingdom and is a Fellow of the Institute of Chartered Accountants in England and Wales.
Working experience and occupation	Mr Chan has more than 37 years of experience in investment banking, financial management and accounting stints with Ernst & Young and Morgan Grenfell & Co. Ltd. prior to joining the Usaha Tegas Sdn Bhd (UTSB) Group in 1992 as head of corporate finance. He is presently an executive director of UTSB and serves on the boards of several other companies in which UTSB has significant interests, such as Binariang GSM Sdn Bhd among others.
Family relationship with any director and/or major shareholder of the listed issuer	None
Any conflict of interests that he/she has with the listed issuer	None
Details of any interest in the securities of the listed issuer or its subsidiaries	Mr Chan has a direct interest in 2,511,200 (0.03%) issued shares in Bumi Armada Berhad

icy97

利昂哈蘭任阿瑪達CEO兼董事

2016-03-24 08:58      
（吉隆坡23日訊）阿瑪達（ARMADA，5210，主板貿服組）宣佈委任利昂哈蘭為新任首席執行員兼執行董事，從2016年5月16日起生效。

阿瑪達在文告中表示，利昂哈蘭目前為Heerema海事承包公司商業和技術執行副總裁，他將聯合負責該公司的表現，及直接負責所有商業、合約、工程及創新措施。

在加入Heerema之前，他任職於全球最大浮式生產儲油船（FPSO）公司SBM岸外公司，並於2004負責展開和建立浮動液化天然氣業務。

至於該公司代首席執行員陳智敏則將重返之前的非獨立非執行董事職位。（星洲日報／財經）

Type	Announcement
Subject	OTHERS
Description	Press Release titled "Bumi Armada Announces New CEO" is attached hereto.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5038717

Attachments Press Release - Bumi Armada Announces New CEO.pdf

icy97

布米阿马达 股价还可涨35%

财经 股市 行家论股  2016-03-30 12:04

目标价：1.05令吉

最新进展
受澳洲Woodside能源终止Claire浮式生产储卸油轮（FPSO）合约的影响，布米阿马达（ARMADA，5210，主板贸服股）股价自3月7日以来，下跌了约22%。

布米阿马达表示，已向澳洲Woodside能源发出诉状，并追讨毁约赔偿金。

行家建议
根据该公司的增长和估值展望，市场对该股的负面影响反应过度，因而目前是趁低吸纳该股的好机会。

我们根据最坏的情况，Claire油轮合约无法获得任何赔偿，下修该集团未来3年的净利预测，分别为2016财年减18%、2017财年减29%，以及2018财年降12%。

不过，也不排除该集团最终可获得一些赔偿金。

该公司的Kraken油田FPSO工程也进行顺利，并降低营运成本。

布米阿马达的“买入”评级维持不变，而目标价则从原本的1.45令吉，下修至1.05令吉，但仍具有35%的上升空间。



分析：马银行投行

【南洋网财经】

icy97

布米阿马达 3年财测遭大砍

财经 行家论股  2016-04-20 12:57

目标价：65仙

最新进展
布米阿马达（ARMADA，5210，主板贸服股）遭客户中止浮式生产储卸油轮（FPSO）合约，并对此展开法律行动。

负责该合约的独资子公司Armada Balnaves公司（ABPL），针对Armada Claire浮式生产储卸油轮（FPSO）的租船合约，认为客户澳洲Woodside能源公司不合法中止合约，这等同于毁约。

行家建议
我们已经移除Armada Claire这项FPSO合约的盈利贡献预测，此外，目前也不把潜在的赔偿金额纳入预测，因为无法量化，而法律诉讼程序向来都耗时冗长。

另外，我们也调整2015至2017财年令吉兑美元汇率的预测，从原本的4.20调整至4.00，这将冲击布米阿马达以令吉计算的净利表现。

综合这两项因素，我们把2016至2018财年的净利预测，分别下修25%、32%、28%，目标价也从81仙，降至65仙。

下修幅度如此巨大，主要是因为Armada Claire不但不会再贡献任何营业额，还必须承担该FPSO项目的融资成本。



艾芬黄氏投行

【南洋网财经】

icy97

FPSO合约遭终止 Bumi Armada向 Woodside索偿 2.76亿美元
By Sangeetha Amarthalingam / theedgemarkets.com   | April 21, 2016 : 4:47 PM MYT   

（吉隆坡21日讯）Bumi Armada Bhd向澳洲 Woodside Energy Julimar Pty Ltd索取2亿7580万美元，以作为终止 Armada Claire浮式生产储卸油船（FPSO）租约的赔偿。

Bumi Armada今日向大马交易所报备，独资子公司 Armada Balnaves Pte Ltd（ABPL）也就FPSO合约已完成的工作和材料供应，索偿770万美元。

该集团是在昨日向西澳最高法院提呈索赔要求。

在此之前，ABPL在3月4日接获通知终止FPSO合约后，于3月14日向Woodside提出诉讼，赔偿数额将在稍后阶段才计算。

Bumi Armada表示，根据申诉书，ABPL作出一般损害索偿，而损失金额已确定，包括总额2亿7581万3698令吉63仙（合约终止无违约，ABPL有权要求的终止金额）。

此外，还要求造成ABPL交易损失的任何额外赔偿。此外，额外的770万美元是按合约已完成的工作和材料供应。

Bumi Armada认为，由于有合理的依据，ABPL就Woodside不履行合约索偿料得到有利的判决。

尽管如此，在一个有利的情况下，损害赔偿的裁决是由法院最终裁定。

该集团补充，如果有任何重大进展，将继续不时作出更新。

（编译：陈慧珊）

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD- FILING OF STATEMENT OF CLAIM IN THE SUPREME COURT OF WESTERN AUSTRALIA AGAINST WOODSIDE ENERGY JULIMAR PTY LTD
Further to the announcements made on 4 March 2016, 8 March 2016, 11 March 2016  and 14 March 2016 respectively, Bumi Armada Berhad (“Bumi Armada”) wishes to announce that its wholly owned subsidiary, Armada Balnaves Pte Ltd (“ABPL”), has, on 20 April 2016, filed and served a Statement of Claim in the Supreme Court of Western Australia (“Statement of Claim”) against Woodside Energy Julimar Pty Ltd (“Woodside”) in relation to the contract for the charter of the Armada Claire Floating Production Storage and Offloading unit (“Contract”). In the Writ of Summons filed by ABPL on 14 March 2016, ABPL had sought from Woodside, among others, an unquantified amount of damages for Woodside’s repudiation of the Contract, by its purported termination of the Contract when it issued a notice of termination to ABPL on 4 March 2016. Under the Statement of Claim, ABPL has made a claim for damages in general for such repudiation, and the amount of such damages has now been quantified by ABPL to include the sum of USD275,813,698.63 (being the amount of the termination payment to which ABPL is entitled had the Contract been terminated without breach) plus any additional damages for loss of bargain caused to ABPL as a consequence of Woodside's repudiation of the Contract. An additional sum of USD7,700,000.00 was sought for work done and materials supplied pursuant to the Contract. Bumi Armada is of the view that there are reasonable grounds to expect a favourable outcome in respect of ABPL’s primary claim against Woodside on the repudiation of the Contract. Notwithstanding the foregoing, the award of damages in the event of a favourable outcome is subject to final determination by the court. Bumi Armada will continue to provide updates from time to time on any further material development on this matter. This announcement is dated 21 April 2016.

CUTERABBITGROUP

訴訟案追討賠償獲支持 布米亞馬大交投熾熱
2016年4月22日
http://www.chinapress.com.my/20160422/訴訟案追討賠償獲支持-布米亞馬大交投熾熱/

（吉隆坡22日訊）Woodside能源公司訴訟案有新進展，布米亞馬大（ARMADA，5210，主要板貿服）將向后者追討總值2億8351萬美元（約11億636萬令吉）賠償，加上股價仍被低估，目標價獲調高，促使股票交投火熱。

布米亞馬大週四（21日）發布文告指出，針對中止浮式生產儲卸油船（FPSO）亞馬大Claire租賃合約，將向Woodside能源追討2億7581萬美元（約10.7億令吉）名譽損失，及額外770萬美元（約3005萬令吉）已完成工程和材料供應賠償。

仍被低估

無論如何，賠償數額仍取決于法庭的最終判決。

肯納格證券研究說，現階段尚未將上述索賠的價值納入考量。不過，如果布米亞馬大能夠獲得全額索賠約11億636萬令吉，及令吉兌美元3.9的水平看來，將為該股的目標價提高19仙。肯納格證券研究目前給予該股目標價80仙。　

儘管該股價近期走高，不過豐隆投銀研究認為，該股因市場尚未全面將上述潛在索賠價值納入考量，仍被低估。

豐隆投銀研究因而將目標價從85仙，調高至1令吉，維持該股“買進”投資評級。

布米亞馬大投資評級與目標
券商	投資評級	目標價格（令吉）
豐隆投銀研究	買進	1.00
馬銀行投銀	買進	1.05
肯納格證券研究	符合大市	0.80
大眾投資研究	中立	0.90
大馬投銀研究	脫售	0.69