KUALA LUMPUR (July 2): Aberdeen Group Plc has emerged as a substantial shareholder of Bumi Armada Bhd (KL:ARMADA) with its purchase of a 5.02% stake in the offshore oilfield services provider.
According to a bourse filing on Thursday, Aberdeen acquired the stake, comprising 297.5 million shares, in two transactions on June 30.
The transaction prices were not disclosed, but based on the day's closing prices of 34.5 sen, Aberdeen may have paid about RM102.64 million for the shares.
Bumi Armada’s shares have been in a declining trend since January 2025, when the stock was traded between 64 sen and 68.5 sen. Over the past 12 months, the counter has fallen 25% from 44.5 sen to 33.5 sen.
Billionaire Tan Sri T Ananda Krishnan, who passed away in late 2024, was the largest shareholder of Bumi Armada with a 34.55% stake held through his private vehicle Objektif Bersatu Sdn Bhd, while AmanahRaya Trustees Bhd controlled an 8.47% interest.
Bumi Armada Bhd’s (KL:ARMADA) saw its net profit fall 78% to RM40.1 million in the first quarter ended March 31, 2026 (1QFY2026), from RM182.77 million a year ago, mainly on lower contributions from two floating production storage offloading vessels. Revenue was down to RM306.56 million from RM473.97 million.
Bumi Armada's shares closed down one sen or 2.9% at 33.5 sen on Thursday, giving the group a market capitalisation of RM2 billion.