Posted by CharlesT > 1 week ago | Report Abuse

If yr return in stock mkt has been consistently low, say in single digit % or even incur some losses for the past 5 to 10 years, stock investing may not be your cup of tea.

Good to explore other biz.

Posted by CharlesT > 1 week ago | Report Abuse

Posted by Sslee > 16 hours ago | Report Abuse

For once I know of Insas CEO Dato' Wong cracking his head how to invest Insas' cash hoard of more than RM 1 billion into financial instruments that can give save yearly return of over 10%.

Wah, if u can convince him to buy RM1B RCPS of Yinson then hor seh liao....

Basing on 13% return per annum, their interest income will be RM130M....Then their net profit n EPS will increase more than 100%+...Their net profit for 2024 is only RM80m+

Posted by CharlesT > 1 week ago | Report Abuse

Last year they only earned RM38M+ from their RM1B deposits

Posted by BursaVulture > 1 week ago | Report Abuse

Yinson forum.... 40% comments unrelated to Yinson, 40% comments attacking someone, and maybe 20% about Yinson.

WTF, I came here to read about Yinson. For those that kept spamming unrelated things, GTFO. I dont want to make it personal, if you have grudge against someone, go vent somewhere else, I want to read about Yinson only.

Posted by Fabien _the efficient capital allocator > 1 week ago | Report Abuse

So much debt wasted in SBB. Returning "capital" to shareholders in the form of defending share price from 2.40 to 2.80 range.

Posted by Choivo Capital > 1 week ago | Report Abuse

at this price, sbb is better than div no?

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Good way of looking at it in my opinion is also very simple, if Malaysian market don't want to support, Europe international market willing to support and I can get projects that cost 1 billion but bring in 4 billion, then the irr is 18% then things are cheap as my lending costs are lower.
>>>>>>>

I have a USD1.3b contract. I need USD300m equity and borrow USD1b to fund the project.

I dont have the USD300m now, what do i do?

1) Dont do, sit there and wait, collect money from current projects. But then, what does you project team/suppliers who did the huge projects with you do if there is no jobs?
2) Right issues, but your shareholders will hate it.
3) Do placement, but your share price is not at a level where you want to dilute yourself more.
4) Do rcps/mezz, banks are ok but rate is 13%.

With this RCPS, they can effectively do another 3-4 USD1.5bn jobs without raising any equity.

13% seems high, but raising money from right issue is also risky and opportunity cost of for equity is around there. And in this rcps, they can actually just defer everything and dotn pay cash if they dont want to.

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Importantly to also ask who has the ability to bid for contracts and have the money and funds to execute? With bare boat charter rates at 600k per day rate and long term contracts, the market is very favorable to fpso suppliers.

More importantly to look at is to ask the questions is debt non recourse? If it is then you know the limits of liabilities is more controlled and accepted by the lenders

Posted by Sslee > 1 week ago | Report Abuse

Actually I want Yinson to stop SBB so that price can go down further for me to collect cheap cheap

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

FYI in 2023 they already had mezzanine bonds at 12.95- 13.25% rate from institutions. So this is much easier on the eyes

>>>>>
I thought Bond 9.625% is oredi very bad, now RCPS with 12.95%- 13.5% coupon rate....omg...

Anyway for existing Yinson shareholders no worries...u hv beautiful profit projections in yr sweet dreams...

And 2 cents div in real life

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

fyi this deal is also proof that Yinson should already have the FPSO contract in hand, and ready to pounce and is only planning to announce after they get the finances to secure the deal, which is also something to take a look at. Once agogo is deployed all the big risks are mitigated and they can begin to continue with the new projects that they have won.

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

if you borrow 1.2 billion and get back 5.3 billion in 15 years... AND you own the FPSO ready for new commissioning... do you know the IRR returns?

And if you question is if FPSO contract is canceled how? then you can see yinson history how many deployed and how many canceled.. fyi the only one canceled is due to force majere due to china and vietnam worries and even that they are paid counterparty risk and the ship is fully paid for for them to deploy to malaysian waters. fyi they get to keep all the initial payments settlement
>>>>
Maria loans = USD 0.758 billion = RM 3.4 billion—- charter rate USD 5.3 billion.

👉👉👉 Why so desperate on FPSO Agogo … Higher loans but with Low charter rate :

Posted by Holdom2040 > 1 week ago | Report Abuse

If the market detects company going to stop sbb now, everyone will sell in panic. Hoping to buy when it hit very very low. Will u still hold at your high average buy price?

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

you just posted above that yinson order book is 94 billion lasting until 2048 (23 years) but your total yearly revenue is 3976 million a year. meaning in your calculation yinson revenue is only 92 billion over 23 years. correct?
then you put 10% interest expenses or 1.8 billion a year. is the debt profile fixed rate or reducing rate, meaning has yinson ever refinanced debt?

Notably, Yinson has outstanding perpetual bonds amounting to RM1.3 billion. These include a five-year, 7.5% RM360 million sukuk with its first call date in the fourth quarter of 2027 (4Q2027), and a 15-year, 6.8% RM950 million sukuk, callable in May 2033.

It redeemed US$120 million (about RM567 million) worth of its outstanding perpetual bonds this month. These perpetual bonds were issued in March-April 2019, with a coupon rate of 8.1%.

Yinson, which has a charter order book for nine floating offshore vessels, also raised RM238 million through a private placement of 3.96% of its enlarged share capital this year.


then you posted total loans to be paid in 10 years is 2 billion a year, or 20 billion in 10 years. but their loans are non recourse and many are bonds raised by the units themselves which are tied to FPSO and not to mother
>>>>>
Posted by jjohnchew > 15 minutes ago | Report Abuse

👉 Yearly Revenue USD 883.56 million x 4.5 = RM 3976 million / year .

Administrative Expenses RM 185 m x 4 = RM 740 m / year …

QR October 2024 Total Loans n Borrowings RM 19.37 billion >> interest expenses x 0.09 = RM 1743.3 million/ year .


>>> : As 60 % of Term Loans per QR January 2024 is maturity between 2 to 5 years..

👉Total Loans to be paid in 10 years = RM 1937 million/ year

Total expenses ( excluded Hedge , SBB ) / year = RM 4,420.3 million


👉👉 Total Expenses / year - Total Gross Profit / year = RM 1310 million , ie : SHORT of Expenses Fund RM 1310 million.

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

johnchew, if you understand debt profile, do put in proper figures and facts.
Notably, Yinson has outstanding perpetual bonds amounting to RM1.3 billion. These include a five-year, 7.5% RM360 million sukuk with its first call date in the fourth quarter of 2027 (4Q2027), and a 15-year, 6.8% RM950 million sukuk, callable in May 2033.
https://www.marc.com.my/rating-announcements/marc-ratings-affirms-ratings-on-yinsons-programmes/
yes debt profile will hit 22 billion until agogo starts to sail this year. but after that collection of charter rates and repayments will be highly consistent

Posted by Sslee > 1 week ago | Report Abuse

Nowadays I learn how to just skip whatever Mike/John wrote as he invent his own fake figures and facts.

Below are some real figures and facts on Yinson

Repost:
FPSO operation:
YTD Q1 FYE 2024(RM’ mil)
YTD Q1FYE 2025 (RM’ mil)
Variance (RM’ mil)
Revenue 365 651 286
Gross Profit 213 433 220
EBITDA 250 468 218
Core PATAMI 104 177 73
 Increase in revenue was due to fresh contribution from FPSO Anna Nery’s
operation since first oil was achieved on 7 May 2023.

Gross profit 433/651 = 66.51%
EBITDA 468/651= 71.89%
PATAMI 177/651 = 27.19%

Addition revenue after year 2026
FPSO Agogo USD million 4600/15 = 306.67 (2026 onward)
FPSO Atlanta USD million 1700/15 = 113.33
FPSO Maria Quitéria USD million 5300/22.5= 235.56
Addition USD 655.56 million per year
Per quarter USD163.89 million
USD/MYR 4.5 equalvant RM 737.505 million

Total per quarter revenue RM 651+738= RM 1,389 million
EBITDA 71.89% = RM 998.55 million
Gross profit 66.51% = RM 923.83 million
PATAMI 27.19% = RM 377.67

Above only for FPSO operation.
BOD already replied at AGM
EBITDA is expected to reach about USD 1 billion annually from 2026.

Free cash flow after repaying debt and interest to reach USD 200 – USD 300 million annually from 2026 onwards, based on today’s interest rates

Posted by BursaVulture > 1 week ago | Report Abuse

@jjohnchew

What is wrong with you. Someone said going to 9.9% is not an issue as Yinson can cancel their own shares. Just like how you kept saying Yinson sold a percentage of FPSO Anna Nery, when Yinson went into partnership with their Japanese friend clearly states the Japanese co can increase their holding after X years. Talk with facts.

Posted by BursaVulture > 1 week ago | Report Abuse

The only good thing I see from this YP deal is hopefully Abu Dhadi Fund can pull some strings and give Yinson some really good projects. After all, it is in their interest to see Yinson succeed as they will want to cash out when YP IPO.

Posted by JediMaster1 > 1 week ago | Report Abuse

The Most shameless i3 user have multiple id and 2 is suspended !

Please flag this most shameless user jjohnchew or report i3 to suspend this forumer >>>>


Mikecyc ( Suspended )

Johnchew5 ( Suspended )

jjohnchew ( this user still actively created fake news and amend facts & figures from good to bad and try to misleading other user )

The most Shameless user i ever seen in i3 !

complain email address : feedback@i3investor.com

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

jjohnchew

Hoho KonLee what do you think :

1.) Current Ratio 0.64 is oredi Low : working capital can Last for 7 months only .

>>>>>>
What is working capital after 1 billion influx how many more month can survive?

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

and please tell me why crazy funds will pump 1.5 billion into yinson if details so bad ?

I'm confused, funds silly to punt 1.5 billion usd at 7% cash and 6% in kind with no escape clause except ipo?

So yinson still maintain control and they get to cheat professional fund managers from 3 big firms?

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Johnchew have you written to them and share your findings? Why would they sign up to a fake company that has increase its share price by 50x in 15 years?

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Maybe if you write enough stories they can divert funds to jaks instead,

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Are you implying yinson is going bankrupt and expenses more than revenue?wow... Why Abu dabhi funds yinson production with 1 billion usd when other fpso suppliers all have difficulty getting long term funds from banks?

How come yinson bonds rated A and all their bonds taken up?

Only johnchew know yinson is bad...

Posted by jjohnchew > 1 week ago | Report Abuse

Hoho Repost :

Hoho including projected Revenue from FPSO Agogo , Atlanta , Maria and Anna Nery as posted earlier :

Hoho just to simplify the illustration:

👉 Yearly Revenue USD 883.56 million x 4.5 = RM 3976 million / year .


QR October 2024 : Revenue RM 1900 million, ie 50 % contribution from FPSO Anna Nery … >>> 1900/2 x 4 = RM 3800 million/ year .

Total Revenue/ year = RM 7776 million

👉 Gross Profit 40 % =. RM 3110.4 million


Administrative Expenses RM 185 m x 4 = RM 740 m / year …


QR October 2024 Total Loans n Borrowings RM 19.37 billion >> interest expenses x 0.09 = RM 1743.3 million/ year .


👉 Total Loans to be paid in 25 years = RM 774.8 million/ year


👉Total expenses ( excluded Hedge , SBB ) / year = RM 3258.1 million


👉👉Total Expenses / year - Total Gross Profit / year = RM 147.7 million , ie : SHORT of Expenses Fund RM 147.7 million.



>>> : As 60 % of Term Loans per QR January 2024 is maturity between 2 to 5 years..

👉Total Loans to be paid in 10 years = RM 1937 million/ year


Total expenses ( excluded Hedge , SBB ) / year = RM 4,420.3 million


👉👉 Total Expenses / year - Total Gross Profit / year = RM 1310 million , ie : SHORT of Expenses Fund RM 1310 million.

Posted by jjohnchew > 1 week ago | Report Abuse

Hoho why RSS and PDT/ PSS don’t dare to Short … occasionally is IDSS only .

The 2 substantial shareholders are so powerful with their Fund Managers, rotating yummy yummy either price Up or Down… both scenarios are yummy yummy…😅🤫

Posted by jjohnchew > 1 week ago | Report Abuse

Yinson : Short

Hoho oh as at 20/1/2025 :

IDSS : 10,000
RSS : 22,000


Net Short position as at 17/1/2025 :

15,504,524

Posted by kcwong98 > 1 week ago | Report Abuse

$1 billion of new investment for FPSO company considering initial public offering


Yinson Production delighted with support from investors as it prepares for growth


Subscribe

Finance
$1 billion of new investment for FPSO company considering initial public offering
Yinson Production delighted with support from investors as it prepares for growth

Yinson Holdings Group chief executive, Lim Chern Yuan.
Yinson Holdings Group chief executive, Lim Chern Yuan.Photo: YINSON HOLDINGS
Russell Searancke
Norway CorrespondentOslo

Published 14 January 2025, 19:20
Global floating production company Yinson Production has secured US$1 billion investment from new investors in Abu Dhabi, Canada and Asia in what it described as “pre-IPO growth capital”.

The new investors are the Abu Dhabi Investment Authority and funds managed by BCI based in Canada and RRJ Capital Group based in Asia.

The investment, which Yinson said is one of the largest structured equity transactions in Southeast Asia, is made through the issuance of redeemable convertible preference shares, with the option to upsize to US$1.5 billion within 24 months, subject to agreement.

The proceeds will support Yinson Production’s further growth, while US$200 million will be distributed to the company’s controlling shareholder, Malaysia’s Yinson Holdings.

The new funding will strengthen Yinson Production’s market position and help it grow “in a robust FPSO market” as well as boosting its energy transition efforts, the company said.

In terms of the potential initial public offering, Yinson Production’s, chief financial officer Markus Wenker, clarified to Upstream that an IPO is one of “four principal exit options” being studied.

The other three are refinancing, a sell-down through a yield company (bundling certain operating assets into a portfolio company), and/or an equity sell-down at asset level.

“A timeline for an IPO, if we choose an IPO which will depend on the prevailing ECM sentiment at that time and the valuation we can achieve, is three to five years,” added Wenker.

Parent company Yinson Holdings explained separately that some of the US$200 million coming its way will be used to further its renewable energy and green technologies divisions.

Lim Chern Yuan, Yinson Group’s chief executive, said his company was pleased to welcome ADIA, BCI and RRJ as new investors in Yinson Production.

“This landmark transaction comes at a pivotal juncture for Yinson, allowing Yinson Production to capture the great opportunities in the current robust FPSO market, and for Yinson Holdings to return capital to our shareholders and fund our energy transition businesses, Yinson Renewables and Yinson GreenTech.

"We firmly believe in the continued growth of energy demand and also the need for an inclusive energy transition,” he said.


https://www.upstreamonline.com/finance/-1-billion-of-new-investment-for-fpso-company-considering-initial-public-offering/2-1-1764196

Posted by Sslee > 1 week ago | Report Abuse

Making mistakes is a natural part of life.

Being stxxxd is a choice.


Philip

Posted by CharlesT > 1 week ago | Report Abuse

Jaks 1.0
Jaks 2.0
Hengyuan 1.0
Hengyuan 2.0
Serbak

Dont worry, the list will go on

Posted by CharlesT > 1 week ago | Report Abuse

In all the above cases, I am always the minority, against the majority (Sifu/ Seafood/ Master/Waterfish etc)

Sadly, the final outcome proves that the majority are all wrong.

Posted by Sslee > 1 week ago | Report Abuse

Jak 1.0 and jak 2.0 the majority (Sifu/ Seafood/ Master/Waterfish etc) were proven right on JHDP but get it terrible wrong on ALP single handedly wasted all the fortune.

Posted by CharlesT > 1 week ago | Report Abuse

Do u think Yinson's boss will do the same to screw up all yr beautiful profit projections too??

Posted by Sslee > 1 week ago | Report Abuse

As on Hengyuan 1.0 the majority (Sifu/ Seafood/ Master/Waterfish etc) were also proven right that the widen crack spread do bring in record profit for HRC but that widen crack spread did not last long

On Hengyuan 2.0 all get it wrong because HRC selling long/bet on crack spread going down and when the crack spread going up all the refineries in the world make record profit except HRC suffered big lost from hedging bet

Posted by CharlesT > 1 week ago | Report Abuse

Lim only holds 20%+ of Yinson's shares?

Posted by CharlesT > 1 week ago | Report Abuse

Hope he wouldn't give u same surprise later like ALP n Chinaman...

Posted by CharlesT > 1 week ago | Report Abuse

In short, all the beautiful future profit projections didn't materialise right?

Whether it's Boss's problem, mkt problem or any other problem

Posted by Sslee > 1 week ago | Report Abuse

Sometime in investment "A bird in the hand is worth two in the bush"
As on Yinson, I will not chase high but collect slowly on the dip.

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Knowing those who are in my chat group, I freely admit my big mistakes on serba dinamik just as I freely admit my other mistakes in selling topglove 10 10 years early,buying harta early, buying palantir at 15 and averaging down to 8, buying Nvidia late at 180 in 2022, not selling pchem at 9 when my average is 4, buying yinson since 2012 instead of apple, buying stoneco, buying sds.

But I wonder why my results after learning every day is still very green despite the start to the year.

Meanwhile johnchew despite reposting and repeating cannot say how much jaks he is buying in hopes of first dividend of his life and why funds bought 1 billion usd of yinson production in hopes of cashing out in 3 years post IPO for yinson production in nasdaq as they become a energy specialist.

Big question john refuses to answer but stoops to kiddy insults, why they don't buy "profitable jaks" and instead invest in yinson?

Has Abu dabhi funds replied you yet johnchew? Or is the reason you post so much is because you are too free with your time in between jobs?

Posted by CharlesT > 1 week ago | Report Abuse

Philip improves...congrates

Posted by CharlesT > 1 week ago | Report Abuse

Even it takes few years

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Unlike you who never post his mistakes or learn from anything except to be a troll, I'm sure you also won the sports toto results and can dream of buying your dream car finally. Good for you.

Fyi I learn far more from ss lee in his mistakes than I do from your trolling. So wondering who is more beneficial to society? Fyi selling early on top glove and buying early on harta I still made huge earnings on both which is better than those who never invest at all but like to troll.

Guess what, sslee still made money on his area of competence in palm oil stocks which is key. Learn new things every day instead of trolling maybe you will finally get somewhere in life Charles.

Posted by Sslee > 1 week ago | Report Abuse

The insider projection:
BOD already replied at AGM
EBITDA is expected to reach about USD 1 billion annually from 2026.

Free cash flow after repaying debt and interest to reach USD 200 – USD 300 million annually from 2026 onwards, based on today’s interest rates

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Sslee I currently hold 5.5m shares of yinson so I am still very very bullish on them. My biggest mistake with yinson was selling some to diversify into o&g eih serba purchase. Very bad mistake. But now I still have some good management in yinson to look forward to as they are guiding to yinson production ipo with more fpso wins. The market is still huge with 84 fpso bids from 2025- 2028 so bidders are still low vs total tenders so prices will definitely be looking upwards of 650k charters per day

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

jjohnchew

Hoho interesting:

Jaks 1.0 : ss leee ( 2021 ) / Mr K2y ( 2017/2018 )
Jaks 2.0 : mikecyc stuck and still treading water

Posted by CharlesT > 1 week ago | Report Abuse

Posted by Philip ( buy what you understand) > 11 minutes ago | Report Abuse

Unlike you who never post his mistakes or learn from anything except to be a troll, I'm sure you also won the sports toto results and can dream of buying your dream car finally. Good for you

Still a very high ego oldman....lol

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

With TAM of 90 billion usd in the next 4 years I think getting the 1.5 billion investment cash from Dubai and rrj means they can go and pick up another 2-3 fpso projects moving forward backed by the strong cashflow from maria agogo Atlanta john moving forward

Posted by CharlesT > 1 week ago | Report Abuse

Posted by value_invest > 2 days ago | Report Abuse

@sslee--

The Bond at 9.625%, which is considered as high yield or almost junk bond, is considered at the HIGH side. It is obvious that the investors see this is high risk investment bond.
The 9.625% of financing cost is considered at the HIGH side after taking the financing cost into the investment-return equation. This has left the company very little room for any mistake in managing the risk, e.g. countries risk, execution risk, currency and counter-party risk, just to name fews. Any of the risk can severely impact the company bottom line. The company has taken HIGH leverage for the Investment, there is no right or wrong to this strategy. They can HIT jackpot if they can manage all the matrix and risk very very very well or make loses.. It is so called HIGH risk HIGH gain.
Generally ,the yield on investment grade bonds is about over 5% and the credit spread is between 110 and 130 basis points.
----------------------------------------------------------------
Nordic bond market at such a high coupon rate of 9.625%--

Bsides all the country risk, execution risk, currency risk etc, the major risk is the Boss's risk.

High risk high return. Simple.

Many of U only painted the beautiful future profit projections (as U are their shareholders, of course lah) without addressing the risks involved.

But I guess this is normal to most people.

Posted by CharlesT > 1 week ago | Report Abuse

After U placed yr bets (or investment or whatever U like to make u feel better), pray to see yr future beautiful paper profit projections to turn into real cash profit/ Div/ higher share prices etc).

Hopefully non of the above risk happens...Amen

Posted by Mar2083 > 1 week ago | Report Abuse

Potentially may test 2.6 soon