Analyst Research Report Snapshot

Title:

Flash Note – Bumi Armada (REDUCE, maintain) - Acquiring a MPSV for US$16m

Price:

$12.00

Provider:

Affin Investment Bank

Date:

13 Mar 2013

Pages:

2

Type:

AcrobatPDF

Companies referenced:

BUAB.KL

Available for Immediate Download
Summary:

Acquiring a Multiple Purpose Support Vessel for US$16m (RM49m) Bumi Armada announced that the group has on 13 March 2013 purchased and taken delivery of 1 unit of Multiple Purpose Support Vessel (“MPSV”) known as “Iremis Condor” from Condor Shipco Limited at a total consideration of US$15.8m (RM49.0m). The vessel was renamed Armada Condor. Bumi Armada will deploy the vessel for its future subsea/ umbilicals/ risers/ flowlines (“SURF”) work under the group’s transport & installation business segment.

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