Friday 29 Mar 2024
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KUALA LUMPUR (Dec 4): Bumi Armada Bhd substantial shareholders Datuk Ahmad Fuad Md Ali and Datuk Abdul Farish Abd Rashid are buying additional shares in the company.

In a filing with Bursa Malaysia this evening, Bumi Armada said Fuad had acquired 1.15 million shares last Friday (Nov 28), and 300,000 shares the past Monday.

He now owns 2.05 million shares or 0.03% direct stake in Bumi Armada.

Meanwhile, Farish had also acquired one million Bumi Armada shares on Nov 28, bringing his direct shareholding in the company to 0.02% stake.

It is worth noting that Fuad and Farish also have 414.603 million shares or 7.07% indirect stake in Bumi Armada, held by Ombak Damai Sdn Bhd, a private vehicle controlled by the duo.

Shares of Bumi Armada were actively traded as the third most active stock on Bursa Malaysia today, with more than 53.773 million shares traded. At the closing bell, the counter was up two sen or 2% to RM1.04.

Year-to-date, the stock has fallen by RM1.43 or 57.8%.

In a separate filing with Bursa Malaysia earlier today, Bumi Armada said it has not been able to conclude the US$1.18 billion charter contract with Indonesian-based Husky-CNOOC Madura Ltd (HCML) for the supply of one floating production, storage and offloading (FPSO) by its Nov 27 deadline.

This is fourth delay in the execution of the agreement.

Bumi Armada said that HCML and the consortium of Bumi Armada Offshore Holdings Ltd and its joint-venture company PT Armada Gema Nusantara have mutually agreed to extend the period for the signing of the contract to next Wednesday.

The signing of the FPSO contract has been the subject of several delays since Bumi Armada first announced that HCML had issued a letter of intent for the deal in August.

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