@Abram66

EPF cannot touch anything below RM1B.

@maggigoreng

How do you know it is below market value?

on 9 september, it will either go to rm1.99 or rm0.99.
if go to rm1.99, pe will be 40? for a company that almost at the end of their total addressable market?
unless they have some fantastic plan like going into something new, i dont know what will make them hold onto the 40 pe...

the other thing, their bulk99 website... if you compare to things sold in shoppee.... shopee is cheaper. maybe that is why the bulk99 sales website never really took off. dont take my word for it, you go compare the price. and shopee also offer free delivery if you click on the 'free' coupon.

Q2 will be higher and Q3 will be the highest, then Q4 low, and Q1 lowest.
Hopefully new high this coming 2 quarters.

should just sell edenor if really cannot turn the company around. kept bleeding money.... their cash pile growing, hopefully can secure another new bigger hydro project while growing the company.

Icon has nothing to do with Yinson, not even Yinson's subsidary.

Loan when signed, cannot simply just pay up. If says 5 years, then 5 years.

In the AGM, they also said they will give out shares as dividends... they are just using the dividend money to buy shares for the share holders and give it out as dividend shares.

@Genovese

Let them do what they want to do lah, why u go worry for them? their family owns the biggest share. fpso not yet start running and you complain about cash flow... in 3 years they build 3 big fpso, by end of 2024, two of the fpso will come online.... and here you complain about cash flow? when it runs, then you can judge. it is like complaining on why a 2 years old kid still cannot run. wait lah. fpso also not yet start.

@Genovese

Do you know how EPF works? You speak as if EPF is just 1 investment body and all decision is made via 1 team.

EPF delegates a certain amount of money to various investment houses / funds in Malaysia. The goal is simple, all EPF wants to see is profit at the end of the day. The better they perform, the better the reward. If continue to lose money, EPF will cut them off. So, maybe Fund A buys (Invest) and Fund B sells (trading). It is all up to the fund, EPF dont tell them what to do.

What is this whole Jaks vs Yinson thing, I came here to read about Yinson, not Jaks. Goodness, please share only things related to Yinson. I know you guys hates each other, maybe do it somewhere private like meet up in mamak and bring along 2 hammers.

@noahUK

"volatility of the oil and gas market"

What do you meant by that? You never attend their AGM or read reports/articles about Yinson? Oil price can go up or down, it doesn't effect Yinson's profit. They signed a fixed contract for a fixed amount regardless of the price of oil. What volatility are you talking about?

Finally FPSO Maria Quiteria arrived at the JUBARTE FIELD.
First oil expected at 3Q24, means around September.
USD624k/day rate.

Atlanta only US$210,000/day.

https://www.marinetraffic.com/en/ais/home/shipid:8803162/zoom:10

The next big pay is Agogo at USD726k/day, first oil expected at 1Q26. Which is a long way, unless they managed to complete the conversion 5 or 6 months ahead like Maria, then maybe first oil at mid or end of 2025.

so many years liao... sideways.... can fly or not?

hydro is in laos, not cambodia

looks like QL is in the danger zone of being kicked out of KLCI30

When price climbs before a company announce good news means insider buying.
When price drops after a company announced good news means insider selling.
When price drops before not good QR is announced, means insider selling.

I really dislike these type of companies, maybe it is not the management, maybe accounting department leaked the info, who knows...

I mean, 3rd quarter is always their weakest quarter, and they've already announce the monthly 'harvest' months ago... results is kind of expected, but was hoping for slightly more.

good qr means drop

@Raymond Tiruchelvam

probably move to ICON, their family just became majority shareholder. And it fits his profile, he was in charge of OSV or something similiar at Yinson. ICON is more or less the same with his portfolio in Yinson.

Chill bro, everybody can say what they want. dont need to get angry.

FelixPonndann... are you the UlarSawa guy from TopGlove? because you sure sound like him. just wondering.

@Jeffrey

agree, debt is very high. i also worry.

Yinson charter rates are fixed. Oil up or down dont affect them. It is like signing a long term rental contract at fixed monthly price. I dont know why you guys kept saying oil up and yinson must go up. Kenanga got a report on which counter benefit or lose the most when oil price is up or down.


If oil up, pchem is one of the top winner in bursa. Oil up or down, dont affect yinson at all.

@Permutation

Yes, yinson stock price like dead.... sien.

Anyway, FPSO Atlanta will probably reach the Atlanta field in the coming days. Maybe first oil in 1 or 2 months? FPSO Maria will reach the oil field in 1 or 2 months time. So, the be end of this year, only left FPSO Agogo under construction.

How sure are you the fed will lower the rates? If they lower now before inflation subsides, they risk causing another spike in inflation. If anyone can successfully predicts fed movement, he will be the richest man on earth.

As per the Oakland Path report, there are less and less FPSO operators, this means less bidder for a project. Thus Yinson can negotiate better terms.

Not that things won't go wrong. Murphy's law. Just hope everything will be ok. I wait until my hair becomes white liao.

https://www.oaklandspath.com/the-fpso-industry-and-top-tier-lessor-and-operator-yinson

@Jeffrey

You should read Oakland Path's report and some other IB's report. Ignore IB target price, read the content. Quoted from Oakland Path report:

The company has experienced several contract terminations in the past decade, and it has received termination fees in each case. Here is a summary of the terminated contracts:

- FPSO Lam Son - The FPSO was originally supposed to be leased until June 2021, but the lease was terminated early in April 2017 due to lower production levels than expected. Yinson was paid termination fees. The client continued to charter the FPSO to work at the same field at a lower day rate. The FPSO has recently been extended until June 2024, with an automatic 6-month extension until December 2024.
- FPSO Knock Allan – The FPSO was originally supposed to be leased until April 2019, but the lease was terminated in late 2018. It had previously operated for nearly 10 years in the Olowi Field in Gabon for Canadian Natural Resources before the field ran dry. Yinson was paid the termination fees. The FPSO was upgraded and redeployed as FPSO Abigail-Joseph to Nigeria under First E&P in 2020 on a firm seven-year contract.
- Repsol’s Ca Rong Do – In 1Q18, Yinson’s JV PTSC Ca Rong Do was notified by Repsol of a force majeure event (Vietnam’s territorial dispute with China). The upgrading contract for the vessel has yet to be awarded at that time. Yinson's JV has finalized a full compensation deal for the contract termination in 2020.
- FPSO Pecan Letter of Intent (LOI) – Aker Energy and Yinson entered a letter of intent (LOI) for the provision of an FPSO vessel for the Pecan field. However, the LOI was terminated in early 2020 due to the COVID-19 pandemic and low oil prices. Yinson has been compensated for the work that was already completed.

In two of the four cases, Yinson was compensated for the termination of existing leases, and in the other two cases, it was compensated for the termination of contracts for vessels under construction. This shows that Yinson has chosen its counterparties carefully and that its contracts are well-written, with strong provisions for termination.

FM Putrajaya got raided for "No Palm Oil" ice cream.

https://twitter.com/NewsBFM/status/1786229239702028674

I find the whole argument on palm oil and deforestation pure BS. as if sunflower, soy, olive etc grows in the sky without the need to clear land.

@vdhawan

you got to look at core and none core profit. the pe8 is not quite accurate. profit include earnings from epcc due to accounting. core will just be the fpso charter rate.

@SSLee

Thanks. I am somewhat worried about their debt, but will hold onto it for now. Hopefully everything turns out well.

@SSLee

wanna ask a personal question, how confident are you with yinson on a scale of 10. 1 being no confidence. thanks.

YTLP also had/have crazy huge debt... until things turn around.

Investment Talk with Yinson Holdings
https://www.youtube.com/watch?v=R1COT8KkLj8

It is just like MFCB… waiting game. MFCB flew 6 months after their hydro goes online. Yinson will do the same if everything goes accordingly. It is a waiting game.

@JSJH02

Yes, misunderstood. and yes, like IPP... just need to wait.

Raymond is right. The problem is the super high debt. Once all 3 FPSO sails, Yinson should set a goal to reduce the debt and only take 1 FPSO per year. If they can gradually reduce the debt while increasing the profit, it will fly. All up to the management. WA due in about 15 months time.

He is very quiet.... was wondering why.

he stuck at ytlp? i thought he bought last year, he must be in the green for ytlp.

I see... WA gives higher return if Yinson fly. Makes sense. Oh well, until all 3 FPSO sails and yinson slowly pair down their debt, then maybe can fly.....

looks like OTB left yinson...

yinson green invested in some EV offshore vessel, maybe they buy icon so that yinson green can deploy their EV vessel via Icon, and from there, hopefully to the world.

CIMB warrant expires this september at rm2.45. They got to hold the line.

If everything goes according to plan, all FPSO strike first oil and get paid, Yinson stock price will fly. Question is, will it fly before all fpso sail or after all fpso sail and get paid? Because when all fpso strike first oil and get paid, the debt will not be an issue.

A question of if and when. Do you buy and wait? Or wait and then buy? And what if no oil?

the thing is even with the completion of the fpso, need to set sail and strike first oil, and then get paid... until then... all is just paper. need to see cash in bank.

As usual… cannot fly. Still got 3 warrant not yet expire… just wait

somwhat like MFCB, a small cap build a mid size hydro... when completed, pay down debt and give good dividend and cash flow positive. yinson took up 3 huge FPSO within these few years, now just wait for all 3 FPSOs to be ready. it is a waiting game, if all goes according to plan, should be good.

the million dollar question.... can fly or not?

Hi OTB, can you share the oakland path report? Thanks. If not possible also ok.

I wait for yinson until hair turn white liao…. Dont know what management doing…