Shares of Bumi Armada tanked 80 percent last year, while the benchmark FBM KLCI declined 5.9%. The company reported a net loss of RM2.3bil in 2018, compared with a net income of RM352.2mil a year earlier. Ananda is Malaysia’s fifth-richest person with a net worth of about RM18.4bil.is nearing an agreement for a loan of around RM2.034bil, sources said, in a deal that will give the embattled energy firm more time to restructure.
Banks are finalising details of a five-year credit facility, according to the people, who asked not to be identified because the information is private. The funds will be used to refinance existing debt that matures in May and for working capital, one of the people said.
Why would a billionaire need a 2 bil loan ? Advance personally first lah ... unless you don't believe you can recoup the loan