【ARMADA 5210 交流专区】布米亚马大

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Date of change	21 Feb 2017
Name	MR SHAPOORJI PALLONJI MISTRY
Age	52
Gender	Male
Nationality	Ireland
Designation	Non Executive Director
Directorate	Non Independent and Non Executive
Type of change	Resignation
Reason	Other commitment
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of shareholders	No
Qualifications	- Degree in Business Administration and Economics from Richmond College, London.
Working experience and occupation	He is the Chairman of Shapoorji Pallonji group, a 150 years old diversified business conglomerate with business interests in Construction, Real Estate, Infrastructure, Water, Oil & Gas and Renewable Energy. The group has a presence in more than 40 countries.
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	He is a director and major shareholder of Shapoorji Pallonji and Company Private Limited which is the joint venture partner of Bumi Armada Berhad in the joint venture which owns and operates two floating production, storage and offloading vessels in the D1 and C7 blocks, offshore India. In 2016, another joint venture between the parties, Shapoorji Pallonji Bumi Armada Godavari Private Limited, was established.

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布米阿马达董事辞职

2017年2月26日
（吉隆坡25日讯）布米阿马达（ARMADA，5210，主板贸服股）宣布，非执行非独立董事夏波吉米斯里（Shapoorji Pallonji Mistry）辞去现有职务。

根据日前的文告，52岁的印度亿万富豪夏波吉米斯里，于2014年10月27日加入布米阿马达董事部。

他也是夏波吉帕朗吉集团（Shapoorji Pallonji）的主席，该集团在建筑、房地产、基建，以及再生能源领域皆有足迹。

布米阿马达主席东姑阿里瑞德浩丁称：“我代表公司董事部感谢夏波吉米斯里这段期间的贡献。他的丰富经验，让他拥有独到的见解。”

“夏波吉米斯里拥有许多业务及职务需要监管，所以我们完全理解他辞职的理由。我与其他董事祝他未来一切顺利。”【e南洋】

Type	Announcement
Subject	OTHERS
Description	Press Release titled "Shapoorji Pallonji Mistry Resigns as a Director of Bumi Armada" is attached hereto.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5344157

Attachments Press Release - Shapoorji Pallonji Mistry Resigns as a Director of Bumi Armada.pdf

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营业额锐减65%
布米阿马达末季亏近13亿

2017年2月28日
（吉隆坡28日讯）布米阿马达（ARMADA，5210，主板贸服股）截至去年12月31日末季，净亏12亿9558万令吉或每股净亏22.09仙，比上财年同季的净亏8508万令吉或每股亏1.45仙显著恶化。

该公司净亏扩大，归咎于数项资产进行11亿令吉的非现金减值活动，特别是重新评估岸外支援船（OSV）资产，因持续面对严峻的市况。

同时，末季营业额从5亿8904万令吉，按年锐减65%至2亿545万令吉。

这是因为所有大型项目的改造船活动，已在去年末季完成，拖累浮式生产储油及卸油船（FPSO）和浮式天然气解决方案（FGS）营业额暴跌97.4%。

手握订单395亿

此外，Armada Claire、Armada Perdana，以及Armada Perkasa的贡献按年减少，还有岸外海事服务（OMS）营业额亦下滑5%。

布米阿马达全年净亏18亿8718万令吉或每股32.17仙，上财年则净亏2亿3457万令吉或每股4仙；而营业额则按年下跌35%至14亿1660万令吉。

布米阿马达执行董事兼总执行长莱昂哈兰德说：“随着四项大型项目在今年开始营运，我们会在2017财年看到现金流增加，以及正面的核心净利。”

同时，将会看到越来越多新项目，特别是在庞大的FPSO市场，这是公司能够发挥经验的领域。

截至去年12月末，公司订单合约总数达395亿令吉。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2016	31 Dec 2015	31 Dec 2016	31 Dec 2015

1	Revenue	205,453	589,042	1,416,596	2,179,734
2	Profit/(loss) before tax	-1,292,322	-104,011	-1,845,057	-171,392
3	Profit/(loss) for the period	-1,307,261	-86,864	-1,905,829	-241,777
4	Profit/(loss) attributable to ordinary equity holders of the parent	-1,295,575	-85,080	-1,887,181	-234,566
5	Basic earnings/(loss) per share (Subunit)	-22.09	-1.45	-32.17	-4.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	0.9700		1.2400

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获新合约．4探油计划近完成．阿玛达盈利转好

（吉隆坡1日讯）阿玛达（ARMADA，5210，主板贸服组）2016年第四季及全年业绩表现远逊于市场预测，分析员预料今年盈利表现将转好，特别是旗下一些油气装置取得新合约，以及4项探油计划已经或接近完成，料推动盈利表现，因此普遍保持其评级。

丰隆研究认为，阿玛达2017财政年盈利表现料较佳，主要是旗下一些新浮式生产储油卸油装置（FPSO）取得新合约，以及4大计划如马尔他设施今年2017年首季获租、Olombendo在今年2月探到石油、Sterling-III及Kraken装置的维修与装配和营运（HUC）已完成，开始准备生产石油，料将刺激公司今年盈利贡献。

马银行研究对阿玛达2017及2018净利预测保持不变，旗下浮式生产储油卸油装置于2017年获取新合约，实为潜在催化因素，其中关键包括成功执行手中的工程合约、管理成本及交出盈利。

丰隆研究指出，阿玛达2016财政年第四季核心净亏（不包括11亿令吉的疑账及资产减值拨备）2亿2220万令吉，全年净亏则为1亿5180万令吉，落后该行全年预测5300万令吉净利、及市场预测1亿零740万令吉净利。

肯纳格研究指出，阿玛达2017年盈利将受到新盈利来源推动。惟应注意Kraken计划进展，因该公司与客户重新洽商新的采油日期，预料从原本的今年4月1日展延至今年第二季。

肯纳格研究将阿玛达2017财政年净利预测下调9%至2亿7850万令吉，2018年则为3亿5790万令吉，主要反映Olombendo、阿玛达Sterling-III及Kraken计划将作出全年盈利贡献、以及假设旗下岸外支援船只的平均使用率达55%水平。



文章来源：
星洲日报‧财经‧报道：李文龙‧2017.03.01

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阿玛达印度大亨联营FPSO业务

财经  2017年03月16日
（吉隆坡16日讯）布米阿玛达（ARMADA，5210，主板贸服股）宣布，將和S.P工程服务（简称SPES）在新加坡成立一家名为Armada 98/2的联营公司，以执行浮式生產储油卸油船（FPSO）採购及建设工程。

同时，Armada98/2將以空船租赁方式，租船给旗下另一家联营公司--Shapoorji Pallonji Bumi Armada Godavari公司（简称SPBAG）。

空船租借是期租的一种，船东仅把船交给租方使用，租方配备船员及负责经营管理。

据文告，布米阿玛达將持有Armada98/2的49%-1股，而SPES则持有该联营公司51%股权+1股。

此次联营计划有助布米阿玛达开拓FSPO业务，同时减轻其財务及项目执行风险。

值得一提的是，SPES是印度企业大亨沙普尔米斯里的旗下子公司之一。

同时，沙普尔米斯里之前是布米阿玛达非执行和非独立董事，于2月21日辞职。【东方网财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	BUMI ARMADA BERHAD ("BUMI ARMADA" OR "COMPANY")- ESTABLISHMENT OF A JOINT VENTURE COMPANY WITH S.P. ENGINEERING SERVICES PTE. LTD.
1. INTRODUCTION Further to Bumi Armada’s announcement on 22 July 2016 with respect to the establishment of Shapoorji Pallonji Bumi Armada Godavari Private Limited (“SPBAG”), a joint venture (“JV”) company of Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited, a wholly-owned subsidiary of Shapoorji Pallonji And Company Private Limited (“SPCL”), the Board of Directors (“Board”) of Bumi Armada wishes to announce that Bumi Armada Offshore Holdings Limited (“BAOHL”), a wholly-owned subsidiary of the Company, has, together with S.P. Engineering Services Pte. Ltd. (“SPES”), an indirect subsidiary of SPCL, established another JV company known as Armada 98/2 Pte. Ltd. (“Armada 98/2”), on 15 March 2017 in Singapore. The establishment of Armada 98/2 is regarded as a related party transaction under the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“LR”) as it involves the interests of a former Director of Bumi Armada, Mr. Shapoorji Pallonji Mistry (“Mr. Shapoor”) by virtue of him being a director of Bumi Armada within the preceding 6 months of the date on which Armada 98/2 was established. Further details of his interests are set out in section 6 below. 2. DETAILS OF THE JV Armada 98/2 has been set up for the purpose of owning and undertaking the engineering, procurement and construction of a floating production, storage and off-loading vessel (“FPSO”) and to charter the same on a bareboat charter basis to SPBAG (“Bareboat Charter”), in the event SPBAG is successfully awarded an FPSO project (“Project”). In the event that SPBAG is awarded the Project, BAOHL and SPES (collectively, “Parties”) intend to formalise the Armada 98/2 JV arrangement through a shareholders agreement to, amongst others, regulate the Parties’ relationship as shareholders of Armada 98/2, which will include provisions on the Parties’ economic and voting rights and obligations, as well as their responsibilities in connection with Bareboat Charter of the FPSO by Armada 98/2 to SPBAG. The estimated total financial commitment for such JV arrangement is not available at this juncture. A further announcement will be made at appropriate time when there are further updates and details on the Armada 98/2 JV.      (i) Information on the Parties a) BAOHL BAOHL is a wholly-owned subsidiary of Bumi Armada incorporated in the Republic of The Marshall Islands on 17 June 2010 and is principally involved in the business of owning, chartering and managing of ships and vessels and provision of marine support and other services to offshore oil and gas companies. As at 15 March 2017, the authorised share capital of BAOHL is US$50,000 comprising 50,000 registered shares of US$1.00 each. The issued and paid-up share capital of BAOHL as at 15 March 2017 is US$10,000 comprising of 10,000 registered shares of US$1.00 each. b) SPES SPES was incorporated in Singapore under the Companies Act (Cap. 50) on 2 September 2013. Its principal activities are engineering, design and consulting activities. SPES is an indirect subsidiary of SPCL which is owned by Mr. Shapoor and his brother, Mr. Cyrus Pallonji Mistry, directly and through their companies. The SPCL Group of Companies is a large conglomerate with multiple business segments, with over 23,000 employees and an annual group turnover of US$4 billion. As at 15 March 2017, the issued and paid-up share capital of SPES is US$50,000 comprising 50,000 ordinary shares and US$27,175,000 comprising 27,175,000 preference shares. (ii) Information on Armada 98/2 Armada 98/2 is incorporated as a private limited company in Singapore under the Companies Act (Cap 50) on 15 March 2017 under its present name. Armada 98/2 is 49% less1 share held by BAOHL and 51% plus 1 share held by SPES. The intended principal activity of Armada 98/2 is ship owning, chartering and managing ships and vessels, marine support and other services to oil and gas industries. As at 15 March 2017, the issued and paid-up share capital of Armada 98/2 is US$5,000 comprising 5,000 ordinary shares. 3. RATIONALE FOR THE ESTABLISHMENT OF ARMADA 98/2 This establishment of Armada 98/2 forms part of the overall arrangement between the Company and SPCL in relation to the bidding of the Project where, subject to a successful award of the Project, Armada 98/2 will be the entity to own and carry out the engineering, procurement and construction of the FPSO for charter to SPBAG, and which SPBAG will in turn charter to the client. Overall, this JV arrangement will enable the Bumi Armada Group to expand and carry out its FPSO business, as well as mitigate its financial and project execution risk exposure if the Project is awarded, by leveraging on Bumi Armada and SPCL’s strong history and experience in fabrication and construction related activities. 4. EFFECTS OF THE ESTABLISHMENT OF ARMADA 98/2 The establishment of Armada 98/2 will not have any effects on the issued and paid-up share capital of Bumi Armada and the substantial shareholdings in Bumi Armada. The establishment of Armada 98/2 will not have any material effects on the earnings per share, net assets per share and gearing of the Bumi Armada Group for the financial year ending 31 December 2017. 5.APPROVALS REQUIRED The establishment of Armada 98/2 is not subject to any approval from the shareholders of Bumi Armada and/or any regulatory authorities. 6. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM Save as disclosed below, none of the Directors, major shareholders or persons connected with them has any interest, direct or indirect, in the establishment of Armada 98/2. Mr. Shapoor was previously a Non-Independent Non-Executive Director of Bumi Armada. He resigned from the Board on 21 February 2017. He is also a director and major shareholder of SPCL. Therefore, Mr. Shapoor is deemed to be interested in the establishment of Armada 98/2 by virtue of his directorship in Bumi Armada within the preceding 6 months of the date on which Armada 98/2 was established. As at the date of this announcement, Mr. Shapoor does not have any direct and/or indirect interest in Bumi Armada shares. Mr Shapoor had abstained from deliberations and voting on the establishment of Armada 98/2 at the relevant Board meetings of Bumi Armada when he was still a director of Bumi Armada. Mr Ravi Shankar Srinivasan who was the alternate director of Mr Shapoor, had also resigned from the Board on 21 February 2017, was also not involved in any deliberations and voting on the establishment of Armada 98/2 at the relevant Board meetings of Bumi Armada. 7. DIRECTORS’ STATEMENT The Board, having considered all aspects of the establishment of Armada 98/2, is of the opinion that the establishment of the Armada 98/2 is in the best interest of Bumi Armada. 8. PERCENTAGE RATIO APPLICABLE TO THE ESTABLISHMENT OF THE JV COMPANY The percentage ratio applicable to the establishment of Armada 98/2 pursuant to paragraph 10.02(g) of the LR is 0.0003%, computed based on the audited consolidated financial statements of Bumi Armada for the financial year ended 31 December 2015. This announcement is dated 16 March 2017.

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Type	Announcement
Subject	OTHERS
Description	Press Release titled "Bumi Armada Announces New Appointment To The Board" is attached hereto.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5391477

Attachments Press Release - Bumi Armada Announces New Appointment To The Board.pdf

Date of change	10 Apr 2017
Name	MR UTHAYA KUMAR A/L K VIVEKANANDA
Age	63
Gender	Male
Nationality	Malaysia
Designation	Independent Director
Directorate	Independent and Non Executive
Type of change	Appointment
Qualifications	-     Fellow of the Institute of Chartered Accountants in England & Wales-     Corporate Finance, Institute of Chartered Accountants in England & Wales-     Chartered Accountant, Malaysian Institute of Accountants-     Member of Malaysian Association of Certified Public Accountants
Working experience and occupation	1979               Qualified as a Chartered Accountant with Price Waterhouse, London1982 - 1987    Regional Manager and Head of Price Waterhouse in East Malaysia1990                Admitted Partner, Price Waterhouse Malaysia1996                Head of Energy, Utilities, Media and InfoComm Group1997 - 2003     Markets Leader responsible for top clients and industry development of PwC Malaysia2003 - 2012     Markets and Advisory Leader in Malaysia and on merger of PwC Regional Firm became Markets Leader followed by Advisory Leader of PwC SEAPEN*2012 - 2014     Partner of PwC South East Asia Peninsula* PwC SEAPEN Region comprises Malaysia, Thailand, Vietnam, Cambodia and Laos, where over 3000 people across these five countries share knowledge, resources and experience to best serve their clients' needs across the region.

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Bumi Armada首季净利增至4800万 FPO业务进账走高
Surin Murugiah/theedgemarkets.com
May 31, 2017 15:57 pm MYT

（吉隆坡31日讯）Bumi Armada Bhd 2017财政年首季净利按年扩增至4811万令吉，同期仅净赚2343万令吉，归因于浮式生产卸油装置（FPO）业务的进账增加。

然而，这家岸外能源设备及服务供应商2017财年首季 （截至3月31日止）的营业额却萎缩至4亿417万令吉，同期营业额报4亿3077万令吉。

Bumi Armada在今日的一则文告中指出，在Armada Olombendo和Armada LNG Mediterrana分别首次产油及产天然气所获得的营收带动下，FPO业务首季营业额随即按年增长10.7%。

然而，该集团表示，岸外海事服务（OMS）业务的营业额却跌挫23.2%，因岸外支援船（OSV）的使用率较低。

Bumi Armada执行董事兼总执行长Leon Harland表示，首季业绩表现反映出集团正处于过渡阶段，尽管市场情况艰巨，集团表现仍有所回升。

“Bumi Armada在2016年末季蒙亏后，本季成功转亏为盈。今年首季，我们的Armada LNG Mediterrana FSU 和 Armada Olombendo FPSO也开始投产，这两座油气田分别坐落于马尔他（Malta）和安哥拉（Angola）。”

“最近，我们也从印尼的Karapan Armada Sterling III天然气田产出首批天然气。我们希望，坐落在英国北海的Armada Kraken油田能尽快产出首批石油。此外，以上这些项目的租金收入料可推高集团2017年整体的营收表现。”

Harland指出，鉴于勘探活动并不多，OSV业务在艰巨的营运环境下仍奋力求存，因此，该集团不认为OSV业务的租金或使用率将有所回升。

“我们继续尽可能有效地管理这项业务，但由于我们在里海（Caspian Sea）的铺管活动正在进行中，因此，海底建设业务相对来说较稳定。

“展望未来，我们看到FPSO、浮式储油和再气化市场仍有商机，市场涌现越来越多的新项目。我们将仔细审视这些商机，斟酌该如何为客户与股东创造更高的价值。”

（编译：倪嫣鴽）

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	404,173	430,768	404,173	430,768
2	Profit/(loss) before tax	73,617	55,937	73,617	55,937
3	Profit/(loss) for the period	56,418	21,165	56,418	21,165
4	Profit/(loss) attributable to ordinary equity holders of the parent	48,108	23,430	48,108	23,430
5	Basic earnings/(loss) per share (Subunit)	0.82	0.40	0.82	0.40
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	0.9600		0.9500

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布米阿马达
2合约启动提振盈利

2017年6月2日

分析：大众投行
目标价：90仙

最新进展

布米阿马达（ARMADA，5210，主板贸服股）截至3月底首季净利按年激增1.05倍，因为去年出现一笔1790万令吉的非现金减值拨备，及融资成本较高，拉高了比较基础较低。

该集团首季净赚4810万8000令吉或每股0.82仙，上财年同季则达2343万令吉。

不过，营业额却从4亿3077万令吉，按年减少6.2%，达4亿417万令吉。 归咎于岸外海事服务（OMS）营业额因为岸外支援船的使用率减少，而下跌23.2%。

行家建议

该公司首季的船只使用率下跌至42%，截至目前，共有21只岸外支援船（OSV）没有投入运作。不过首季已获6项新的OMS订单。

在Karapan Armada Sterling 3（Madura）和Armada Kraken的合约项目启动后，我们预计，现财年下半年会提升布米阿马达的盈利。

随着国际原油价格稳定，OSV市场比早前市况更好，该公司也趁势，在今年4月脱售了Armada Aman船只。

我们了解布米阿马将会继续通过出售旧船只来加强现金流，以更有效管理旗下船队。维持“超越大市”评级，和90仙目标价。



【e南洋】

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布米阿马达加纳联营
争FPSO合约

2017年6月16日
（吉隆坡15日讯）布米阿马达（ARMADA，5210，主板贸服股）与Shapoorji Pallonji油气缔结联营，在加纳成立一家联营公司，瞄准当地浮式生产储油及卸油船（FPSO）项目。

布米阿马达向交易所报备，子公司布米阿马达海事控股有限公司（简称BAMHL），是与Shapoorji Pallonji油气携手成立联营公司，取名为布米阿马达Shapoorji Pallonji加纳有限公司 （简称BASPG）。

布米阿马达表示，联营是为了结合各方的能力与专才，目标是赢得FPSO项目。

“联营可让公司拓展业务，同时通过联营方的强稳记录和相关领域的经验，减轻获得合约后的财务和项目风险。”【e南洋】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	BUMI ARMADA BERHAD (BUMI ARMADA OR COMPANY)ESTABLISHMENT OF A JOINT VENTURE COMPANY IN GHANA
1.         INTRODUCTION The Board of Directors (“Board”) of Bumi Armada wishes to announce that its wholly owned subsidiary, Bumi Armada Marine Holdings Limited (“BAMHL”), has, together with Shapoorji Pallonji Oil and Gas Private Limited (“SPOG”), a wholly owned subsidiary of Shapoorji Pallonji And Company Private Limited (“SPCL”) and Cypress Energy Company Limited (“CECL”) established a joint venture (“JV”) company known as Bumi Armada Shapoorji Pallonji Ghana Limited (“BASPG”), on 5 June 2017 in Ghana. The certificate of incorporation of BASPG was received by the Company on 10 June 2017. The establishment of BASPG is regarded as a related party transaction under the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“LR”) as it involves the interests of a former Director of Bumi Armada, Mr. Shapoorji Pallonji Mistry (“Mr. Shapoor”) by virtue of him being a director of Bumi Armada within the preceding 6 months of the date on which BASPG was established. Further details of his interests are set out in section 6 below. 2.       DETAILS OF THE JV The JV arrangement is for the purpose of combining the capabilities and expertise of BAMHL, SPOG and CECL (collectively, "Parties") with the intention of ultimately securing the award of a floating, production, storage and offloading (“FPSO”) project in Ghana. (i)         Information on the Parties a)       BAMHL BAMHL was incorporated as a BVI business company in British Virgin Islands under the BVI Business Companies Act, 2004 on 10 April 2015 under its present name and its principal activities is investment holding. As at 14 June 2017, the authorised share capital of BAMHL is 50,000 shares with a par value of USD1.00 each. The issued and paid-up share capital of BAMHL is 10,000 shares of USD1.00 each. b)      SPOG SPOG was incorporated in India under the laws of India on 14 August 2012 as Cosima Properties Private Limited. The name of the company has been changed from Cosima Properties Private Limited to Shapoorji Pallonji Oil and Gas Private Limited with effect from 19 May 2015. Its principal activities consist of engineering, procurement, fabrication, construction, installation and commissioning services for offshore and onshore oil and gas exploration and production industry and for vessels/ facilities used for liquefaction of natural gas, storage, transportation and regasification of liquefied natural gas, to provide operation and maintenance services for floating vessels used for offshore oil and gas production, processing and storage, and for LNG carriers. SPOG is a wholly owned subsidiary of SPCL, the ultimate beneficiary owners of which are Mr. Shapoor and his brother, Mr. Cyrus Pallonji Mistry. The SPCL Group of Companies is a large conglomerate with multiple business segments, with over 23,000 employees and an annual group turnover of USD4 billion. As at 14 June 2017, the authorised share capital of SPOG is INR 2505,05,00,000 comprising 125,00,50,000 ordinary shares of INR 10 each and 1255,00,000 Preference Shares of INR 100 each. The issued and paid-up share capital of SPOG is INR 734,55,67,980 comprising 1,06,06,798 ordinary shares of INR 10 each and 7,23,95,000 Preference Shares of INR 100 each. b)      CECL CECL was incorporated as a limited liability company in Ghana under the Ghana Companies Act 1963 (Act 179) on 26 March 2013 under its present name. As at 14 June 2017, the authorised shares of CECL is GHC 1,000,000 and the stated and paid up capital is GHC 200,000. The principal activity of CECL is the marketing of offshore field and support services. (ii)      Information on BASPG BASPG was incorporated as a limited liability company in Ghana under the Companies Act, 1963 (Act 179) on 5 June 2017. The authorised shares of BASPG is 1,000,000 and its issued shares is 223,000. The stated capital of BASPG is GHS 1,003,500. BASPG is 45% held by BAMHL, 45% held by SPOG and 10% held by CECL. The principal activities of BASPG is floating, production, storage and offloading development. 3.       RATIONALE FOR THE ESTABLISHMENT OF BASPG The JV arrangement will enable the Bumi Armada Group to expand and carry out its business, as well as mitigate its financial and project risk exposure in respect of any FPSO project awarded, by leveraging on the parties’ strong history and experience in fabrication and construction related activities and the local experience. 4.       EFFECTS OF THE ESTABLISHMENT OF BASPG The establishment of BASPG will not have any effects on the issued and paid-up share capital of Bumi Armada and the substantial shareholdings in Bumi Armada. The establishment of BASPG will not have any material effects on the earnings per share, net assets per share and gearing of the Group for the year ending 31 December 2017. 5.       APPROVALS REQUIRED The establishment of BASPG is not subject to the shareholders of Bumi Armada’s approval and/or any regulatory authorities. 6.       INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM Save as disclosed below, none of the Directors, major shareholders or persons connected with them has any interest, direct or indirect, in the establishment of BASPG. Mr. Shapoor was previously a Non-Independent Non-Executive Director of Bumi Armada. He resigned from the Board on 21 February 2017. He is also a director and major shareholder of SPCL. Therefore, Mr. Shapoor is deemed to be interested in the establishment of BASPG by virtue of his directorship in Bumi Armada within the preceding 6 months of the date on which BASPG was established. As at the date of this announcement, Mr. Shapoor does not have any direct and/or indirect interest in Bumi Armada shares. Mr Shapoor had abstained from deliberations and voting on the establishment of BASPG at the relevant Board meetings of Bumi Armada when he was still a director of Bumi Armada. Mr Ravi Shankar Srinivasan who was the alternate director of Mr Shapoor, had also resigned from the Board on 21 February 2017, was also not involved in any deliberations and voting on the establishment of BASPG at the relevant Board meetings of Bumi Armada. 7.       DIRECTORS’ STATEMENT The Board (save for Mr Shapoor and Mr Ravi Shankar Srinivasan, who had abstained from all deliberations and voting on the establishment of BASPG), having considered all aspects of the establishment of BASPG, is of the opinion that the establishment of BASPG is in the best interest of Bumi Armada. 8.       PERCENTAGE RATIO APPLICABLE TO THE ESTABLISHMENT OF THE JV COMPANY The percentage ratio applicable to the establishment of BASPG pursuant to paragraph 10.02(g) of the LR is 0.008%, computed based on the audited consolidated financial statements of Bumi Armada for the financial year ended 31 December 2016. This Announcement is dated 14 June 2017.

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Erin石油长期拖款严重
布米阿马达暂停合约

2017年6月23日
（吉隆坡23日讯）由于Erin石油尼日利亚长期拖欠款项，促使布米阿马达（ARMADA，5210，主板贸服股）宣布，停止供应服务。

布米阿马达日前向交易所报备，旗下布米阿马达（新加坡）私人有限公司（简称BASPL），和阿马达Oyo有限公司（简称AOL），已个别发出暂停通知给Erin能源企业的子公司Erin石油。

三家公司签署营运与维修服务的合约，但Erin石油迟迟未付款给AOL，且不定期付款给BASPL。

布米阿马达执行董事兼总执行长莱昂哈兰德通过文告表示：“我们如此做，是因为Erin石油拒绝提供清晰的结构，关于他们如何符合协议，以及偿还拖欠布米阿马达的钱，尽管我们已经重复尝试要友好地解决这个问题。”

他续称，这样的情况已经维持太久，所以，公司决定行使合约中的权利。

“在充满挑战的情况下，集团愿意与客户合作，以在解决方案上达到共识。不过，该解决方案必须充分合理。”【e南洋】

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD - NOTICES OF SUSPENSION ISSUED TO ERIN PETROLEUM NIGERIA LIMITED IN RELATION TO THE OPERATIONS OF FPSO ARMADA PERDANA
Bumi Armada Berhad’s ("Bumi Armada" or the "Company") wholly-owned subsidiaries, Bumi Armada (Singapore) Pte Ltd (“BASPL”) and Armada Oyo Limited (“AOL”), have each issued a notice of suspension (“Notice of Suspension”) to Erin Petroleum Nigeria Limited (“EPNL”), a subsidiary of Erin Energy Corporation, to suspend the provision of services by BASPL and AOL under the Operational and Maintenance Services Contract (“O&M Contract”) and Bareboat Charterparty Contract (“Charterparty”) respectively (“Contracts”). The suspension of operations is due to longstanding delays in the Charterparty payments due to AOL, as well as irregular payments on the O&M contract to BASPL. Details of the Contracts (i)            O&M Contract On 17 February 2014 BASPL entered into the O&M Contract with Oceanic Consultants Nigeria Limited (“Oceanic”) for the provision of operation and maintenance services for the FPSO Armada Perdana (“FPSO”) deployed at the Oyo Field Development located offshore of Nigeria. On 25 March 2014, Oceanic, novated its rights and obligations under the O&M Contract to EPNL. The O&M Contract was further amended by the letter agreement dated 30 June 2015 between BASPL, EPNL and AOL. (ii)          Charterparty On 17 February 2014, AOL entered into the Charterparty with Oceanic for the charter of the FPSO by AOL to Oceanic. On 25 March 2014, Oceanic novated its rights and obligations under the Charterparty to EPNL. The Charterparty was further amended by the letter agreement dated 30 June 2015 between BASPL, EPNL and AOL. Details of the Notices of Suspension BASPL and AOL had, on 16 May 2017, after repeated attempts to arrive at a mutually acceptable solution to both parties, issued Notices of Overdue Payment and Letters of Demand (“LOD”) to EPNL in which BASPL and AOL had demanded immediate payment of undisputed outstanding sum. To date, EPNL has not responded to the notices and LOD. The suspension does not relieve the EPNL of any of its own obligations under the Contracts. Operational Impact (i)            O&M Contract BASPL is suspending the performance of its obligations under the O&M Contract with effect from 12.00 p.m. Lagos time (5.00 p.m. Malaysia time) on 21 June 2017 except for the critical maintenance and other activities to mitigate occupational health and safety and environment risk. (ii)          Charterparty AOL is suspending the performance of its obligations under the Charterparty with effect from 12.00 p.m. Lagos time (5.00 p.m. Malaysia time) on 21 June 2017. Financial Impact The outstanding sum claimed by BASPL and AOL has been fully provided for in the Bumi Armada Group’s financial statements. The suspension of operations is not expected to have significant impact on the full year 2017 financial results of the Company, the extent of which cannot be conclusively ascertained at this juncture. Next steps The Group continues to evaluate all its available options on this matter including the possibility of working with EPNL to arrive at an amicable solution.  In the event that an amicable solution between the parties cannot be achieved, Bumi Armada will proceed with the next steps to fully enforce its rights against EPNL based on advice from external counsel. Bumi Armada will continue to provide updates from time to time on any further material development on this matter. This announcement is dated 21 June 2017.

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Type	Announcement
Subject	OTHERS
Description	Press Release titled "Bumi Armada Suspends Operations On FPSO Armada Perdana Due To Longstanding Amounts Owing From Erin" is attached hereto.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5467589

Attachments Press Release - Bumi Armada Suspends Operations On FPSO Armada Perdana Due To Longstanding Amounts Owing From Erin.pdf

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遭Erin拖欠费用须作拨备．阿玛达3年财测下砍

（吉隆坡22日讯）阿玛达（ARMADA，5210，主板贸服组）遭Erin石油拖欠费用，而终止尼日利亚租船和维修服务，分析员预期该集团盈利将受打击，且必须为此作出拨备，因此下砍未来3年财政年财测。

马银行研究指出，阿玛达旗下Armada Perdana遭Erin拖欠浮式生产储油船（FPSO）租赁及运营和维修（O&M）超过6／2个月的费用，因此，Armada Perdana业务遭到冻结，该行也藉此下砍阿玛达2017至2019财政年财测，分别介于10至13%或6%。

必须积极执行4项目

该行认为，阿玛达必须积极执行手握的4个项目，分别为FPSO Kraken、Olombendo & Madera和FSU Malta，一旦成功执行，将可重拾市场情绪及声誉。

阿玛达是于本月21日开始，停止Armada Perdana FPSO业务，主要是因为Erin长期拖欠费用所致。

受消息影响投资情绪，阿玛达今日挫1仙，收在70仙，为第四大热门股，成交量达4145万3200股。

丰隆研究则对阿玛达遭拖欠费用一事不感意外，主要是因为Erin由2016年开始即拖欠费用，拖累阿玛达必须在2016财政年为此拨备9140万令吉。

该行表示，阿玛达目前在与Erin协商中，至于可回收多少款项，尚是未知数，肯定的是该公司将为此作出拨备。

“阿玛达的欠债在前一年已经有所减少，因此，不预见将会出现其他的债务。”

可趁机再竞标FPSO工程

丰隆表示，随着与Erin的合约终止，对于阿玛达而言可带来利好，因为阿玛达可以趁机再度竞标FPSO工程。

丰隆相信，阿玛达在新合约贡献下，今年的盈利将逐步走强，不过，Armada Kraken的延期运交却会影响投资情绪。

肯纳格研究则表示，阿玛达已对此作出全面拨备，因此不会显著冲击2017年财务表现。

阿玛达是在2014年1月提供有关服务为期7年，合约将于2020年届满，合约总值约3亿8100万美元（13亿令吉），可延长多两年，总值1亿零800万美元（3亿6000万令吉）。



文章来源：
星洲日报‧财经‧报道：刘玉萍‧2017.06.22

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布米阿马达英国采获石油

2017年6月28日
（吉隆坡28日讯）布米阿马达（ARMADA，5210，主板贸服股）宣布，旗下浮式生产储油及卸油船（FPSO）Armada Kraken，于本月23日在英国北海的Kraken油田成功开采原油。

布米阿马达今早发表文告指出，该Kraken油田的产油量正逐步增加，而开采的最后验收作业，将在短期内完成。

布米阿马达执行董事兼总执行长莱昂哈兰德形容，这是极为重要里程碑。

“我们不断通过Armada Kraken和其他三个浮式生产及营运船（FPO）项目，提高公司的现金流和营业额表现。”

Armada Kraken是布米阿马达今年启动的4项浮式生产及营运船之一。

该公司指出，Armada Kraken浮式生产储油及卸油船，是他们有史以来最大的重型原油生产配备，每天可处理多达46万桶原油。

市场看好今年可转盈

市场乐见布米阿马达这项最新的业务发展，甚至上调目标价格。

大华继显研究提到，这符合该油田拥有方的开采时间表，即EnQuest公司（持有油田70.5%股权）和Cairn Energy私人有限公司（29.5%）。

不但如此，这也解决了大部分投资者对这项计划的疑虑，这是因为该项目在过去面对重重挑战。

这些包括布米阿马达在去年9月宣布和英国Enquest公司达成的协商，需支付8500万美元（约3.5亿令吉）的违约金。

因此，随着Kraken油田开采成功，大华继显研究认为，料不再有赔偿事件，其收入将在下半年入账。

4项新的浮式生产及营运船项目启动后，大华继显研究认为，今年将是布米阿马达转亏为盈的一年。

该投行维持该公司“买入”的投资评级，上调目标价9仙，至1.01令吉。

大众投行也看好这项发展，重申“超越大市”投资评级和目标价90仙。【e南洋】

Type	Announcement
Subject	OTHERS
Description	Press Release titled "Bumi Armada achieves First Oil on the Armada Kraken FPSO" is attached hereto.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5471165

Attachments Press Release - Bumi Armada achieves First Oil on the Armada Kraken FPSO.pdf

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北海每年料贡献1.28亿．阿玛达今年有望转盈

（吉隆坡28日讯）阿玛达（ARMADA，5210，主板贸服组）的浮式生产储油卸油（FPSO）船在英国北海首次采油，产量将按不同阶段逐步增加，分析员估计每年带来2000万至3000万美元（约1.28亿令吉）之盈利贡献，这可缓冲近期面临连串挫折所受之风险，并有望转亏为盈。

阿玛达周三股价大受激励，一度上涨4.5仙至最高76.5仙，闭市挂75仙，起3仙，为第三大热门股。

新任首席执行员兼执行董事利昂哈兰发文告强调，在北海生产首油是重要里程，除了交付油予客户，也为出租各项油气资产获取租金。

他说，浮式生产储油卸油船将进一步启用。

分析员预料下半年或年杪作最后接纳。

他披露，ARMADA KRAKEN是其4项计划的第三项，这是阿玛达今年启动的；亦是首个重型油产设施，每日拥有46万桶产能。

他形容，在北海营运，也标帜著作为一个生产设施业主、营运者与职责持有者。

早前，KRAKEN面临延宕，同时也面对2000万美元损害赔偿和6500万美元的按金退还。

大华继显预测，KRAKEN计划料每年贡献最高达3000万美元盈利贡献，按该计划8亿美元资本开销，这是保守估计。

大华认为，在新计划开始营运后，预计2017年财务状况有望转亏为盈。

阿玛达截至12月的2015与2016财政年各面临亏损，2016年扩大亏损至18.87亿令吉。

大华指出，该计划目前仍在等候最终的接收期，可能在下半年。

分析员指出，阿玛达在上述计划面临诸多挫折与罚款；其中启用期由4月1日延宕，主要是2月13日起的现场安装浮式生产储油卸油船遭恶劣气候阻挠。

料不会再有不可预料的罚款

大华说，阿玛达对罚款已及早作注销，预料未来不会再有不可预料的罚款。

联昌研究预测，在KRAKEN的浮式生产储油卸油船出租，将由2018年1月开始，这是比较保守的看法；因为早前EnQuest曾透露从2017财政年下半年开始产油。

联昌了解，英国卫生与安全监管当局的这项检查定于2017年9月，亦是接纳前的最终程序。

联昌预期，一旦KRAKEN的上述油气资产于今年第四季开始出租，将对其股价形成催化剂。

联昌说，Olombendo的浮式生产储油卸油船进展良好，该船次季从光船出租，盈利比重料由首季80%增至次季90%，预期第三季全面贡献。

至于Karapan Sterling3则将于10月开始获费，另一艘7年租约及今年11月到期的TGT1浮式生产储油卸油船，预料有望获得延长租期。另一艘叫Claire的该类船，可能再获重新活跃起来，视油价与生产率而定。

联昌相信阿玛达除探讨发股筹集10亿令吉以减短期债务，仍可探讨其他筹资方式。

这对集团是正面的举措，可持续从4项计划增加现金流和营收，这4项计划在过去3年积极筹建。

大众研究也对上述消息欣慰，料不会再受罚款，给予“超越大市”评级，目标价94仙。



文章来源：
星洲日报‧财经‧报道：张启华‧2017.06.28

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布米阿马达
Kraken开始产油展望佳

2017年6月30日

分析：丰隆投行研究
目标价：72仙

最新进展

布米阿马达（ARMADA，5210，主板贸服股）宣布，旗下浮式生产储油及卸油船（FPSO）Armada Kraken，于本月23日在英国北海的Kraken油田成功开采原油。

根据文告，该Kraken油田的产油量正逐步增加，而开采的最后验收作业，将在短期内完成。

Armada Kraken浮式生产储油及卸油船，是该公司有史以来最大的FPSO项目，每天可处理多达46万桶原油。

行家建议

经过今年初的数次展延后，早前有者担心开采原油会进一步推迟至7月1日以后，所以，上述消息对布米阿马达来说是正面进展。

这消息对我们的预测影响不大，因为我们早已把Armada Kraken FPSO的贡献，纳入2017财年业绩预测。

基于项目规模不小，相信Armada Kraken FPSO将会是布米阿马达未来数年盈利主要来源。

成功开采原油，让该公司在处理更大型及更复杂的FPSO项目，更具有公信力。

然而，该FPSO项目并非没有风险，尤其是油价依然承压，而EnQuest公司（油田业者及营运商）负债又高，净负债达1.13倍。若油价进一步受挫，EnQuest公司有可能无法付款给布米阿马达。



【e南洋】

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Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD (BUMI ARMADA OR COMPANY)INCORPORATION OF A NEW SUBSIDIARY
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Bumi Armada Berhad (“Bumi Armada” or “the Company”) wishes to announce that its wholly-owned subsidiary, Bumi Armada Singapore Holdings Pte Ltd (“BASH”), has incorporated a subsidiary known as Armada Marine Angola (SU), Lda (“AMA”). The certificate of incorporation of AMA was received by the Company on 27 July 2017. AMA was incorporated on 21 July 2017 as a private limited liability company by shares in Angola. The principal business of AMA is to provide management and consulting services including human resources, finance and other related support services to companies in the Bumi Armada Group operating in Angola. The authorised capital, and issued and paid-up capital of AMA is Kz330,182.00 (Three Hundred and Thirty Thousand, One Hundred and Eighty-Two Angolan Kwanzas), equivalent to USD2,000.00 (Two Thousand US Dollars). The issued shares are currently held by Ms Filipa Silva Tavares De Lima, a partner of FTL Advogados being the correspondent office of CMS Rui Pena & Arnaut in Angola, as the attorney holding the shares in the interest and for the benefit of BASH upon the terms and conditions stated in a Fiduciary Deed dated 18 May 2017 on temporary basis pending receipt of foreign investment approval to be obtained by BASH from the Ministry of Commerce of Angola. The incorporation of AMA is not expected to have any material impact on the earnings or net assets of the Bumi Armada Group for the financial year ending 31 December 2017. None of the Directors and/or major shareholders of Bumi Armada and person connected to them has any interest, direct or indirect, in AMA. This announcement is dated 28 July 2017.

icy97

布米阿马达加纳设子公司

2017年8月5日
（吉隆坡4日讯）布米阿马达（ARMADA，5210，主板贸服股）宣布，旗下布米阿马达新加坡控股私人有限公司，设立了位于加纳的布米阿马达海洋加纳有限公司。

布米阿马达昨天向马交所报备，布米阿马达新加坡控股私人有限公司于今月1日，设立拥有60%股权的子公司布米阿马达海洋加纳有限公司。

布米阿马达海洋加纳有限公司的主要业务，主要是为加纳油气业的离岸船只提供支撑服务。

根据文告，同样位于加纳的Cypress能源有限公司，持有剩余40%股权。【e南洋】

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD - INCORPORATION OF A 60% OWNED SUBSIDIARY
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Bumi Armada Berhad (“Bumi Armada” or “the Company”) wishes to announce that its wholly-owned subsidiary, Bumi Armada Singapore Holdings Pte. Ltd., has incorporated a 60% owned subsidiary known as Bumi Armada Marine Ghana Limited (“BAMG”) on 1 August 2017 in Ghana. The remaining 40% equity stake in BAMG is owned by Cypress Energy Company Limited (“CECL”). The certificate of incorporation of BAMG was received by the Company today, 3 August 2017. The principal activity of BAMG is the provision of offshore support vessel services to the oil and gas industry in Ghana. CECL was incorporated as a limited liability company in Ghana under the Ghana Companies Act 1963 (Act 179) on 26 March 2013 under its present name. The authorised shares of CECL is GHC 1,000,000 and the stated shares is GHC 200,000. The principal activities of CECL are sale and marketing of offshore field support services, pipeline maintenance and construction, and transportation of goods and general logistics. The incorporation of BAMG is not expected to have any material impact on the earnings or net assets of Bumi Armada Group for the financial year ending 31 December 2017. None of the Directors and/or major shareholders of Bumi Armada and person connected to them has any interest, direct or indirect, in BAMG. This announcement is dated 3 August 2017.

icy97

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD- FORMATION OF NEW SUBSIDIARIES
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Bumi Armada Berhad (“Bumi Armada” or “the Company”) wishes to announce the recent incorporation in the Netherlands, of a direct wholly-owned subsidiary and two indirect wholly-owned subsidiaries. The deeds of incorporation of the three companies were received by the Company on 5 August 2017. The formation of a Netherlands holding company structure is part of Bumi Armada’s ongoing initiatives to streamline its corporate structure, create a corporate and legal shield, optimise efficiencies and establish a commercial presence close to key target clientele and major oil and gas companies. Bumi Armada Holdings B.V. (“BAHB”) was incorporated on 4 August 2017 as a private limited company and its entire issued and paid-up capital of USD25,000 is held by Bumi Armada. BAHB is the holding company, under which all subsidiaries and joint venture companies in the Bumi Armada Group involved in offshore services via two business units:  Floating Production and Operation (“FPO”) (comprising floating, production, storage and offloading and floating gas solutions) and Offshore Marine Services (“OMS”) (comprising offshore support vessel and subsea construction services), will be held. Subsequently, BAHB on 4 August 2017 has formed a wholly-owned subsidiary known as Bumi Armada Holdings Netherlands B.V. (“BAHNB”). BAHNB is a private limited company with its issued and paid-up capital of USD25,000. On 4 August 2017, BAHNB has formed a wholly-owned subsidiary known as Bumi Armada Netherlands B.V. (“BANB”). BANB is a private limited company with its issued and paid-up capital of USD25,000. BANB will be the holding company for subsidiaries and joint venture companies involved in the FPO business unit. The formation of the said three companies is not expected to have any material impact on the earnings or net assets of Bumi Armada Group for the financial year ending 31 December 2017. None of the Directors and/or major shareholders of Bumi Armada and person connected to them has any interest, direct or indirect, in BAHB, BAHNB and BANB. This announcement is dated 7 August 2017.

icy97

icy97 发表于 22-6-2017 06:45 AM
Erin石油长期拖款严重
布米阿马达暂停合约

2017年6月23日
（吉隆坡23日讯）由于Erin石油尼日利亚长期拖欠款项，促使布米阿马达（ARMADA，5210，主板贸服股）宣布，停止供应服务。

布米阿马达日前向交易所 ...

Type	Announcement
Subject	OTHERS
Description	BUMI ARMADA BERHAD- NOTICES OF SUSPENSION ISSUED TO ERIN PETROLEUM NIGERIA LIMITED IN RELATION TO THE OPERATIONS OF FPSO ARMADA PERDANA (UPDATES)
Bumi Armada Berhad’s (“Bumi Armada” or “the Company”) announcement dated 21 June 2017 on the above matter refers. Despite numerous discussions with Erin Petroleum Nigeria Limited ("EPNL"), payments due to Bumi Armada (Singapore) Pte Ltd (“BASPL”) and Armada Oyo Limited (“AOL”) for the provision of services by BASPL and AOL to EPNL under the Operational and Maintenance Services Contract (“O&M Contract”) and Bareboat Charterparty Contract (“Charterparty”) respectively, remain outstanding. However, following meetings with the Department of Petroleum Resources (“DPR”) of Nigeria and EPNL subsequently, BASPL and AOL have allowed the flow of produced oil into the FPSO cargo tanks. The Company continues to engage with EPNL in order to reach an amicable solution for the outstanding payments. Bumi Armada will continue to provide updates from time to time on any further material development on this matter. This announcement is dated 9 August 2017.

icy97

布米阿马达
3年财测下修

2017年8月10日

分析:大马投行
目标价:79仙

最新进展:

布米阿马达（ARMADA，5210，主板贸服股）获得Erin能源企业的批准，从尼日利亚Oyo区的OML 120油田产油，并装入旗下浮式生产储卸油轮（FPSO）Armada Perdana油缸。

经过几次与尼日利亚的石油资源和Erin能源会面后，Erin能源仍无法偿还债务。

因此，该批油产将不会从Armada Perdana的邮轮卸载，除非已经有债务的解决方案。

虽然这意味着该油轮的营运很大可能会暂停，但同时也代表洽谈仍在进行中。

6月，Erin石油尼日利亚长期拖欠款项，促使布米阿马达宣布停止供应服务给该公司。

行家建议:

由于过去净利表现令人失望，因此布米阿马达必须交出令人信服的次季业绩，好让我们上修评级。

目前，该股是以2017财年的15倍本益比交易，领域则是20倍，因为该公司净利能否在下半年复苏，还存在风险。

由于该公司无法在两艘尼日利亚的油船取得营业额，促使我们把2017至2019财年的净利预测，下修4%至5%。

整体而言，我们仍谨慎看待近期的净利前景，因早前Kraken油船延迟开工，可能会被罚款。



【e南洋】