Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Dec 28): Bumi Armada Bhd has secured a US$1.12 billion syndicated facility to part-finance the provision of a floating production, storage and offloading (FPSO) vessel for the Block 15/06 East Hub Field Development project, located offshore Angola.
 
In a filing with Bursa Malaysia today, Bumi Armada said the facility comprises a term loan facility, a standby letter of credit facility, and a bank guarantee facility from 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 Corp, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.
 
It added that the syndicated facility is not expected to have any effect on the issued and paid-up share capital of the group, or its substantial shareholders’ shareholdings.
 
However, upon utilisation, the facility is expected to increase the gearing of the group.
 
For the third quarter ended Sept 30, 2015 (3QFY15), Bumi Armada posted a net profit of RM69.99 million, 35.25% lower compared with RM108.09 million a year ago, as revenue dipped to RM559.46 million, from RM636.5 million.
 
For the nine months period (9MFY15), the group registered a net loss of RM149.49 million, compared with a net profit of RM271.25 million in 9MFY14.
 
Bumi Armada shares closed unchanged at RM1.04 today, giving it a market capitalisation of RM6.1 billion.
 
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

      Print
      Text Size
      Share