Bumi Armada to the Main Market

BUMI Armada Bhd, which will be listed on the Main Market of Bursa Malaysia this month is on track to become a leader strong services sector, offshore oil and gas in Asia within five years.
Executive director and chief executive officer Hassan Basma Assad, said the company is now close to a major player in Asia marine transport services storage system (FPSO) and offshore support vessels (OSV).
"As a company, to achieve the target we need to remain competitive, healthy and continued to record profits. "In terms of regional competition, we were very close to the main competitors from Hong Kong and Singapore," he said in an interview with The Star in Kuala Lumpur, recently. In the FPSO segment, Basma said Bumi Armada aims to become the world's fourth largest players and the largest in Asia in terms of fleet size by 2013. "We are now approaching the first

Bumi Armada launches IPO at RM2.03 billion

services Provider of offshore oil and gas industry internationally, Bumi Armada Bhd yesterday launched its initial public offering (IPO) valued at RM2.03 billion, after re-listing on the Main Market of Bursa Malaysia.
It was the largest IPO so far this year in the local stock market and one of the largest in Asia.
For the IPO, a company owned by tycoon Ananda Krishan is offering 644.26 million shares, of which 461.9 million was allocated to selected investors and foreign institutions, while 102.49 million to Bumiputera investors approved. A total of 79.86 million is being offered for subscription to retail investors, with 29.28 million for public subscription, while the 21:29 million for directors, employees and individuals who contributed to the success of the company. For the shares allocated to retail investors, it is offered at an indicative price of RM3.15 per share to the final price is determined after the pricing of the institution determined through the bidding process. Based on the indicative price for retail investors, the IPO Bumi Armada, will generate RM2.03 billion. It also puts the value of the company's market capitalization at about RM9.5 billion after the listing is scheduled on 21 July. Executive Director who is also Chief Executive of Bumi Armada, Assad Hassan Basma, said part of the capital raised from the IPO will be used to strengthen the company's business in existing markets. He said the company will explore the opportunities available in those markets as well as attempting to enter new markets in Latin America, Africa and Asia. "We are bidding for six projects, each on average worth between U.S. $ 300 million to U.S. $ 500 million domestically and abroad, "he said at a press conference after the prospectus launch IPO in Kuala Lumpur yesterday. Basma said, going forward, the strategic focus group is continuing its growth in four business segments of the marine transport ( FPSO), transportation and installation (T & I), offshore support vessels (OSV) and oilfield services (OFS).

Improved financial performance Tradewinds

Tradewinds (M) Bhd, a related company which controls 60 percent of farm supply and 50 per cent of national sugar supply is expected to record a better financial performance this year. Its chairman, Datuk Syed Abdul Jabbar Shahabudin said the expectation is based on many factors, including increased productivity and price high crude palm oil, the forward purchase rice at competitive prices and projected increases in exports of sugar.

"Tradewinds will add three more palm oil processing plant involving an investment of RM120 million, with the first building in Kuala Suai, Miri, Sarawak this year.
"In addition to rice mill upgrade, we will also add two storage warehouses of sugar this year, which as a whole suggests 2011 as another good year to the Tradewinds," he said after the group's Annual General Meeting in Kuala Lumpur yesterday. Present managing director Bakry Hamzah and Tradewinds Plantation Bhd chief executive, Chan Seng Fatt. The group recorded its highest pre-tax profit amounted to RM825.546 million in the year ended December 31, 2010, compared to RM349.225 million in the previous year on the income of RM5.575 billion . Syed Abdul Jabbar, said the proposed acquisition of the entire interest in Mardec Ltd by Prisma Spectrum Sdn Bhd, a wholly owned subsidiary of Tradewinds Plantation, of the Semi Bayu Sdn Bhd, is expected to be finalized in the third quarter of this year and will start contributing to the group's net profit as early as the fourth quarter this year. He said, for a start Mardec expected to contribute about RM20 million to RM30 million net profit a year Tradewinds Plantations. Meanwhile, Bakry said they will focus better to improve the rice harvest this year in addition to receiving adequate security of supply from abroad, particularly from Vietnam and Thailand. of rice country, he said enough. Malaysia, he raised the country's rice reserves to 292,000 tons from 92.000 tons during the Asian financial crisis of the past. The amount is enough to cover an emergency supply for six months. Tradewinds in December last year took over 54 per cent stake in Padiberas Nasional Bhd (Bernas). The amount of rice sold BERNAS grow by 1.6 percent to 1.33 million tonnes last year, compared with 31.1 tonnes the previous year. Tradewinds is dominated by Tan Sri Syed Mokhtar Al-Bukhary recorded a profit before tax RM183.949 million in the first financial quarter ended March 31, 2011, increased 34.7 percent compared to RM136.537 million the same quarter the previous year. It is derived from income rose to RM1.461 billion from RM1.299 billion.