Things were beginning to look up for Bumi Armada Bhd
after it refinanced some of its debts and returned to the black in the third quarter ended September last year (3QFY19).
The oil and gas services provider saw a run-up in its share price in 2018, driven by the operational recovery in the Armada Kraken vessel, which had faced numerous operational hiccups previously. Its more stable operations would partially help reprieve debt obligations, according to analysts.
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