KUALA LUMPUR: RHB Research reiterated its "buy" recommendation on Bumi Armada Bhd
on improved earnings and cash flow visibility, underpinned by stable FPSO contributions masking weaker offshore marine service weakness.
It said the group's risk-reward profile looks attractive as the current 5.2x FY21 price-earnings and 0.5x FY20 price-book value reflects an elevated 2.6 net gearing as at 3Q20.
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