Wednesday, September 4, 2019

Sold Armada

I have decided to sell Bumi Armada largely because I do not know how to value this company at the moment.

As mentioned before, the previous reaction towards the company was because of over-reaction on its balance sheet and projects difficulties faced.

This has never going to be a long term holding, though, hence the sale. Additionally, since WCE is coming on stream for its additional rights, this sale is to allow cash accumulation.

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