Sign up | Log in



Home  >>   Daily News  >>   Malaysia  News  >>   Transport  >>   Tycoon to list shipping company
NEWS UPDATES Asean Affairs        6  May 2011

Tycoon to list shipping company

Related Stories

February 10,2011

Malaysia's rapid transit takes shape

December 18,2010
Malaysia to build KL transit

July 5, 2010
Malaysia  Airports flying in India

May 22-24, 2010
Malaysia: High costs hit electronics sector

May 10, 2010
Chipmaker Intel shuts Malaysian unit in ‘transition’

November 11, 2009
Malaysian IT firm eyes e-markets in China, Indonesia

Tycoon T Ananda Krishnan has finally taken steps to list his shipping company Bumi Armada Bhd, which will possibly raise about US $1billion from its initial public offering (IPO), according to some reports.

The latest development came after it was first rumored three years ago that Bumi Armada would be listed.

Details have emerged that the company would be listed on Bursa Malaysia's Main Market. According to its draft prospectus, the listing exercise includes offering a public issue of 644.3 million new ordinary shares and offer for sales of up to 234.3 million ordinary shares of 20 sen each. The draft prospectus on the Securities Commission's website showed that CIMB Investment Bank, Maybank Investment Bank and RHB Investment Bank are the company's joint principal advisers for the IPO.

Bumi Armada is a Malaysia-based international offshore services provider to the oil and gas (O&G) industry in Malaysia and over 10 other countries in Asia, Africa and Latin America. The company provides its services through owning and operating O&G marine assets across the sector's value chain from exploration through field development and construction, production and operations and eventually, decommissioning.

For the year ended Dec. 31, 2010, it achieved profit after tax of RM351mil and earnings before interest, taxes, depreciation and amortisation of RM714mil. Revenue was recorded at RM1.24bil. About 84.8 percent of its revenue for the year ended Dec. 31, 2010 was derived from outside of Malaysia. Its audited consolidated net assets as at Dec. 31, 2010 was RM874.5mil or RM13.89 per ordinary share of RM1 each.

Since as far back as 2005, the market had heard sporadic rumors that Ananda would float the profitable Bumi Armada. He had taken it private in 2003. The listing of Bumi Armada could also be driven by the company's own capital expenditure needs.

Bumi Armada's attraction to investors is its forte in operating FPSOs or floating, production, storage and offloading vessels, which are mainly used to extract oil and gas from deepwater and smaller, harder-to-reach fields. High crude oil prices have spurred these types of exploration and production activities all around the world. Analysts have noted that Bumi Armada is expanding quite well into markets in Africa, India, Mexico and Southeast Asia.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    6  May 2011 Subsribe Now !
  • Asean deals with Myanmar issue Subcribe: Asean Affairs Global Magazine
• VW to build factory in Indonesia Asean Affairs Premium
• Indonesia looks at sale of islands
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Tycoon to list shipping company        
• Moro rebels threaten to end talks

• Thai mutual funds get good grades

• Thai beverage producer turns to nano

• Vietnam signs infrastructure deal p

Asean Analysis    May 2011

Advertise Your Brand
• Myanmar again troubles Asean Sponsor Our Events

Asean Stock Watch    May 2011

• Asean Stock Watch-May 6 p

Global News Impacting Asia    17 November 2010


• Bank of America sees Asian inflation


• Lloyd’s increases insurance push in Malaysia


• Wells Fargo analyst on euro


• Obama’s visit to Asia


ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand