Bumi Armada shares edge up after RM4.6b deals

Kuala Lumpur

SHARES in Malaysian oil field services firm Bumi Armada moved up slightly (0.25 per cent) to RM3.99 apiece after it announced that it had bagged two contracts worth RM4.6 billion (S$1.77 billion).

The firm, which is controlled by reclusive Malaysian billionaire T Ananda Krishnan, told the stock exchange late on Monday that it had won contracts to deploy, operate and maintain a floating, production storage and offloading (FPSO) vessel in Kraken, one of the largest oil fields in the United Kingdom side of the North Sea.