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Bumi Armada Shares Fall After Production Suspension

Por: MarketWatch Business June 06, 2023

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The oilfield-services company said late Friday that its Armada Kraken floating production storage and offloading vessel was recently shut-in following the failure of critical hydraulic submersible pump (HSP) transformers. It said the financial impact is expected to be material for the company. Shares in Malaysia didn't trade Monday due to a public holiday. Hong Leong Investment Bank downgraded Bumi Armada to sell from buy and slashed its... + full article



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