Posted by ImCK > 2023-10-15 12:34 | Report Abuse

40m USD interest per year = 120M ringgit per year only for interest not including repayment yet

Posted by OTB > 2023-10-16 08:31 | Report Abuse

Please read the link below.
https://theedgemalaysia.com/node/686111

Winners from Malaysia's 2024 spending plan.

New energy players

Malaysia will continue to expand its electric vehicle charging infrastructure and encourage EV adoption through rebates, which will help players such as Yinson Holdings Bhd. It will also increase the installation of solar panels, including at government premises, in partnership with Tenaga Nasional Bhd.

Thank you.

Posted by ImCK > 2023-10-16 09:07 | Report Abuse

OTB need capex la means yinson need increase more capex for this negative cash flow already still need go where gorek money the only way is DEBT

Posted by Robert Waters > 2023-10-18 22:51 | Report Abuse

-10 sen drop ? At the same time armada is -1 sen.
What the heck happened ?

Posted by UncleFollower > 2023-10-19 12:20 | Report Abuse

What happened is piggy bank phenomenon...even I do it to Yinson sometimes lol

When ringgit is down, when market is down, it is always easy to take back some liquidity from Yinson. Rock solid, easy to sell millions when u want without shaking the price too much

Posted by Robert Waters > 2023-10-19 22:51 | Report Abuse

OK. I guess it is reaction to budget. General sentiment. Today back to normal.
Fewer comment than normal on most O&G forums.

Posted by ImCK > 2023-10-20 15:49 | Report Abuse

soon will get hit by USD COST and high debt with negative cashflow

Posted by ImCK > 2023-10-20 15:50 | Report Abuse

how to survive if no money pay debt lol usd rise + interest double hit

Posted by OTB > 2023-10-20 17:05 | Report Abuse

Posted by James_Bond > 2 days ago | Report Abuse
High borrowing will kill Yinson! It kills Evergrande Group successfully! Next, will it be Yinson, high borrowing company?
--------------------
@James_Bond,

Oaklands Path is a broker authorised by the Hong Kong Stock Exchange.

Please read this report via the link below.
https://www.oaklandspath.com/the-fpso-industry-and-top-tier-lessor-and-operator-yinson
This article would not have been possible without the sharing of Raymond Yap of CGSCIMB and Keat Seng of KSC.
Note :
FPSO Anna Nery achieved financial acceptance in May-23 and began generating lease income.
Currently, it still has 3 more FPSOs under construction.
FPSO Atlanta and FPSO Maria Quiteria will be delivered next year and FPSO Agogo will be delivered by Feb-26.
The present debt incurred by the aforesaid 3 FPSO vessels.
The high debt will disappear by 2026 if the company does not take on new project.
Example.
FPSO Anna Nery achieved financial acceptance in May-23.
The loan is no longer belong to Yinson and the loan is transferred to the owner of the oil company once FPSO Anna Nery is accepted for full operations.
Likewise, the loans of 3 FPSO presently under construction will disappear in 2024 and 2026 once the FPSO is accepted for full operation and subjected to final acceptance by the oil company.

The actual operating cash flow should reach over RM3bn in calendar year 2026 and is sustainable for at least another 15 years based on the firm period alone. This compared to a market cap of RM7.4bn today with total net debt of RM11bn.

The debt could be fully paid within a few years if the company does not take on a new project. The cash leftover for shareholders may equal 5 to 8 times of today’s market cap i.e. may equal 59.2 billion in 15 years time.

Please read the aforesaid article again and again, all your questions will be resolved.
The aforesaid article written by Oaklands Path on Yinson is very good, you will understand the fundamental of Yinson very well.
Thank you.

Posted by OTB > 2023-10-20 17:19 | Report Abuse

Please read this report via the link below.
https://www.oaklandspath.com/the-fpso-industry-and-top-tier-lessor-and-operator-yinson

I read this report at least 10 times so that I can understand the high debt of Yinson.

All the present 11 billion debt will be disappeared after FY2025 (January 2025).
1.) FPSO Anna Nery achieved financial acceptance in May-23, all the debt of this FPSO Anna Nery will be taken over by the oil company.
2.) FPSO Atlanta and FPSO Maria Quiteria will be delivered in the middle of next year (2024), all the debts of these FPSOs will be taken over by the oil company.
3.) FPSO Agogo will be delivered by Feb-26, all the debt of this FPSO will be taken over by the oil company in Feb-26. Please note that this oil company has paid Yinson a payment in advanced of USD500 million. Hence there is no debt on this FPSO.

The actual operating cash flow should reach over RM3bn in calendar year 2026 and is sustainable for at least another 15 years based on the firm period alone. This compared to a market cap of RM7.4bn today with total net debt of RM11bn.

The debt could be fully paid within a few years if the company does not take on a new project. The cash leftover for shareholders may equal 5 to 8 times of today’s market cap i.e. may equal 59.2 billion in 15 years time.

Please read the aforesaid article again and again, all your questions will be resolved.
The aforesaid article written by Oaklands Path on Yinson is very good, you will understand the fundamental of Yinson very well.
Thank you.

Posted by OTB > 2023-10-20 17:41 | Report Abuse

I will not look into Yinson if there are no FPSO contracts.
The last 4 FPSO contracts are so huge that Yinson will make a PAT of 910 million a year for the next 15 to 25 years.

Yinson will make an EBIT of RM 1.5 billion on EPCIC construction on these 4 FPSOs in next 4 years (From 2022 until 2026 Feb).

FPSO - Yearly PAT
Anna - 188 million
MQ - 268 million
Atlanta - 147 million
Agogo - 307 million
Total - 910 million
Yinson will make a PAT of 910 million a year for the next 15 to 25 years.

The FPSO agreement between Yinson and the oil company is so good that I cannot believe it until I read the recommendation report from Oaklands Path.
Please note that all the debts of 4 FPSOs will be transferred to the oil company once the FPSO vessels are approved for oil production. There will be no debt at all after these 4 FPSO vessels are approved for oil production.
Thank you.

Posted by OTB > 2023-10-20 18:01 | Report Abuse

The management of Yinson is very good in securing FPSO contracts and make Yinson a very profitable company.
However, the management of Yinson is not good in supporting the share price of Yinson.

I believe Tan Sri Francis Yeoh will be a better director to support the share price of YTLPower.
Foreign funds are brought in to buy and take up the stake of EPF shares holding of YTLPower.

I hope the Board Of Directors of Yinson will follow the same foot step of TS Francis Yeoh to support the share price of Yinson.
Good luck.
Thank you.

Posted by ken > 2023-10-20 18:26 | Report Abuse

I m in.. prepare to hold long term.

Posted by OTB > 2023-10-20 19:22 | Report Abuse

All FPSO contracts of Yinson are concluded in USD, the present high USD against RM is a good news to Yinson.
Yinson should make more profit in FY2024.
Good luck.
Thank you.

Posted by OTB > 2023-10-20 19:31 | Report Abuse

Yinson quarter results
https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7293
Q1 2024 - Revenue =3018M, PBT=296M, PAT=208M, EPS=6.10, PAT margin =6.89%, PAT/PBT%=70.3%
Q2 2024 - Revenue =3113M, PBT=449M, PAT=230M, EPS=6.70, PAT margin =7.39%, PAT/PBT%=51.2%
Half year PAT=438M

IB reports and target price projections
IB/FY2024/FY2025/TP
MBB/872/1008/5.05
UOB/648/854/3.95
KEN/603/731/3.65
AMI/823/798/3.96
RHB 436/767/3.06
Q2 July 2024 result - PBT is good.
Q2 July 2024 result - PAT is low even PAT margin is higher than Q1 April 2024 result.
Half year PBT=745M, PBT for FY2024 will be estimated at least 1.450 billion.
If PAT/PBT%=0.703, PAT=1.019 billion. If PAT/PBT%=0.512, PAT=742.4 million. The average is =880 million. Please note that the PAT for the second half of FY2024 will be better than the PAT for the first half of FY2024. Full charter service rate at 39.6% PBT of FPSO Anna Nery will be included in the second half of FY2024.
Half year PAT=438M, I believe this projection of PAT for FY2024 is inline with MBB's projection.

Based on MBB's projection, the target price for Yinson is at 5.05.

The PAT for FY2025 will be better than PAT for FY2024 because FPSO Anna Nery will be in full operations. Moreover, both FPSO Maria Quiteria and FPSO Atlanta will be in operations in FY2025, they will contribute about 50% of their revenues and also PAT.

The PAT for FY2025 will be > 1 billion.

The share price of Yinson closed at 2.43 on 20/10/2023 is definitely undervalued.

PAT for FY2024 is around 872 million after less out all interest payments on debt.
Paying the interest on debt is not an issue for Yinson because PAT for FY2024 is projected to be 872 million.
Thank you.

Posted by ken > 2023-10-20 19:55 | Report Abuse

EPF already stop selling, instead buying almost everyday. Please check Bursa announcement..

Posted by ImCK > 2023-10-24 10:16 | Report Abuse

lol negative cashflow still dare invest i give u you thumb
quick ratio or current ratio also suck anything happen can holland liao

Posted by ImCK > 2023-10-24 10:16 | Report Abuse

i only see cash decreasing fast

Posted by Robert Waters > 2023-10-24 11:05 | Report Abuse

Buy high, sell even higher on hope of more good news.
Prive performance underwhelming.

Posted by UncleFollower > 2023-10-24 16:01 | Report Abuse

Testament to Yinson's management quality


KUALA LUMPUR (Oct 24): JPMorgan Chase on Tuesday appointed Andy Lim as the head of its new corporate client banking business in Malaysia.

Lim will focus on expanding the US firm's commercial banking business to support financing, transaction and treasury needs of Malaysian-headquartered companies, JPMorgan said in a statement.

Lim was previously an executive director with Farosson, the advisory and asset management arm of Yinson Group, a Malaysia-based energy infrastructure and technology company.

Posted by ImCK > 2023-10-27 09:15 | Report Abuse

but mfcb dont have so high borrowing and negative cashflow
this yinson negative cashflow and also high borrowing check the quick ratio
and current ratio both also failed

Posted by Permutation > 2023-11-02 12:24 | Report Abuse

YTL power moved up strongly after EPF ceased to be a substantial shareholder. Perhaps EPF should sell more and cease to be a substantial shareholder then we can have a party ?

Posted by connor94 > 2023-11-07 16:19 | Report Abuse

Yinson good performance lead EPF buying more stocks. https://www.facebook.com/groups/207499110028549/posts/1485384838906630 . What say you guys ?

Posted by stockraider > 2023-11-08 10:42 | Report Abuse

Just avoid being con loh!
Huge debts....very dangerous mah!

Posted by Zhuge_Liang > 2023-11-08 11:41 |

Post removed.Why?

Posted by ImCK > 2023-11-11 00:40 | Report Abuse

yinson negative cashflow have to avoid this kind company more capex coming dividen also paying low
why dont i buy sime with high growth potential and dividen 6% GG invest in yinson take risk and low dividen return

Posted by stockraider > 2023-11-11 09:26 | Report Abuse

Do not lose sights of quality profits loh!
Yes Yinson make good profit , is the profit a quality one leh ?

Answer....No loh!
How to determine quality profit leh ?
Quality profit is a profit the generate very positive cashflow, that do not require huge capex investment & huge profit loh!
Just look at oil & gas industry....it is a dirty industry facing long term declining demand for dirty energy Loh!

Just take note loh...........Yinson Dervices are in demand bcos oil field owners take Yinson as a Sooochaiii to fund their longterm business in which the banks refuse to fund mah!

When things turnout bad....the Oil & Gas fields owner will be the 1st to screw Yinson loh!

That means billions of Yinson borrowing will be subjected to default mah!

Why raider make such a bold comment leh ?
Ans; Remember Serba Dynamic....how it defaulted leh ?
Also Remember....how Armada nearly collapse from a more than Rm 20 billion FPSO.....to almost junking all its FPSO business loh!
Although Armada has recovered abit ......but it is a far cry from its heyday loh!

Do not be over confident with Yinson type of business....very dangerous loh!

Posted by BLee > 2023-11-12 11:23 | Report Abuse

Good Morning and Happy Diwali/Holiday to all, as I am holding Insas, MFCB and got some experience in OnG, would like to give my two sen on this three counters.
- Insas is like running a marathon, will give up if no stamina and endurance. I really don't know when can I collect my medal? I sold off 80% of my holding during last rally after cashing out Offer Rights..my balance of 20% become free holding.
- MFCB is like putting cash in FD; hoping interest rate will move up. It is giving dividend twice a year without fail so far. It is not as good as investment in property if the property is in a growth area; just like investment in suburban areas..
- Yinson is like my investment in ICPS (promotional; investment like buying Big Small, only will not lose all). FPSO investment is very risky as the return very much depends on many factors such as unknown hydrocarbon data, equipment reliability and human factors..that is the reason each of FPSO consider as an investment entity. Re-use of FPSO in another hydrocarbon field requires a lot of adjustment to fit in the field landing pressure, impurity content, technology advancement, clients requirements and many other factor; as good as scrapping the FPSO due to ageing..
Please feel free to correct me, I am on holiday mood and open for a good discussion.
Happy Trading coming Tuesday and TradeAtYourOwnRisk

Posted by Sslee > 2023-11-12 11:34 | Report Abuse

Insas during the last rally I sold all my free warrants and top up more Insas.

For Insas I just collect the dividend and waiting for something to hapoen to unlock Insas value.

My hope is Insas will give better dividend and implement a dividend policy in the coming AGM.

Posted by stockraider > 2023-11-12 12:02 | Report Abuse

ok....ok...Sifu Sslee

I notice that u r no longer the top 30 shareholders of Insas in 2023 Annual Report.
What happened ? If u have sold all your insas warrant N bought into Insas shares, your share holding should increase n not decrease but anyhow still happy that sifu Sslee still have strong positive opinion & support for Insas loh!

May our Insas bring Great wealth to us in this DIVALI times loh!

Posted by Sslee > 20 minutes ago | Report Abuse

Insas during the last rally I sold all my free warrants and top up more Insas.

For Insas I just collect the dividend and waiting for something to hapoen to unlock Insas value.

My hope is Insas will give better dividend and implement a dividend policy in the coming AGM.

Posted by BLee > 2023-11-12 12:19 | Report Abuse

I am both a flipper (share investment only) if hit my target of 30% within a month or long term investor if drop below my investment cost (my ICPS investment instrument; promotional and not recommendation)..Insas is my long term investment although already recovered my investment cost. In term of dividend, MFCB is better, not the best. Hope against hope. I like Yinson business sense so far, but cannot stomach the OnG risk as written earlier..one man meat is another man poison. TradeAtYourOwnRisk

Posted by Zhuge_Liang > 2023-11-12 15:35 |

Post removed.Why?

Posted by Zhuge_Liang > 2023-11-12 16:10 |

Post removed.Why?

Posted by Zhuge_Liang > 2023-11-12 16:19 | Report Abuse

IB reports and target price projections

IB/FY2024/FY2025/TP
MBB/872/1008/5.05
UOB/648/854/3.95
KEN/603/731/3.65
AMI/823/798/3.98
CIMB/1036/982/3.57
All analysts in town are recommending a buy on Yinson.

Please note that all analysts in town are not office boys standard loh.
Not all analysts are wrong I presumed.

Posted by OTB > 2023-11-12 16:26 | Report Abuse

I recommended Insas to my followers > 10 years ago.
Mr Koon also recommended Insas before.
At the end, I also cut loss on Insas because the share price of Insas cannot perform.
I know that the fundamental of Insas is good.
I did not bad mouth Insas after I cut loss.

Posted by MagicalBobby > 2023-11-12 16:29 |

Post removed.Why?

Posted by Lewis Lee > 2023-11-12 16:41 | Report Abuse

"The Market Can Remain Irrational Longer Than You Can Remain Solvent ! " 😂

Posted by Felix888 > 2023-11-12 16:42 |

Post removed.Why?

Posted by Lewis Lee > 2023-11-12 16:43 | Report Abuse

Whether you have the fatt king patience to wait until the market turns rational according to your "rationality" ! 🤣

Posted by OTB > 2023-11-13 13:16 | Report Abuse

The cost of production of oil using FPSO charter service is < USD 10 per BBL.
It is one of the cheapest modes of oil production.
The present crude oil price is about USD 80 per BBL, which oil company wants to terminate any FPSO contract ?
All oil companies using FPSO service are laughing all the way to the bank.
So far in Yinson's record, no oil company has terminated FPSO contract with Yinson.
It is an actual fact, everyone should talk with facts.

The FPSO contract on the Agogo project, the oil company has to pay USD 500 million cash in advance in order to secure the FPSO vessel.
There are 13 FPSO projects in a year, only 8 qualified bidders in the world. The FPSO market is very tight, so far all qualified bidders are tight up with construction of too many FPSO vessels. No more capacity to build any new FPSO vessel until the booked FPSO vessel is completed.

So far in all agreements signed with oil companies, the agreement favoured Yinson far more than oil companies because of very tight supply in the FPSO business.

Yinson has been awarded the ‘Industry Excellence Award’ under the energy sector at MSWG-ASEAN Corporate Governance Award 2021, in recognition of the Group’s exemplary corporate governance disclosure and practices amongst Malaysian public listed companies.
I believe the management of Yinson can be trusted and I am sure Yinson will make it to be a component stock of FBMKLCI index in the next 3 years (after FY 2026).
Do not use Yinson to compare against Serba Dynamic which is not a fair comparison.

There is always a risk in any business, so far Yinson is 100% safe in terms of safety risk in the FPSO business.

I like Yinson because of 4 big FPSO contracts secured in the last 2-3 years.
The strong growth of earnings far outweighed the risk of high debt.
The high debt problem will be resolved after 3 FPSO vessels are completed and certified by the oil companies in the mid of 2024.
I believe the negative cash flow will be improved and become positive after FY 2025 (Jan 2025) report.
The actual operating cash flow should reach over RM3bn in calendar year 2026 and is sustainable for at least another 15 years based on the firm period alone. This compared to a market cap of RM7.4bn today with total net debt of RM11bn.

If you think there is a high risk in the FPSO business, then do not invest in this stock.
But to bad mouth this stock with non-factual news is not fair to all investors in this stock.

Thank you.

Posted by OTB > 2023-11-13 14:07 | Report Abuse

Please read this report via the link below.
https://www.oaklandspath.com/the-fpso-industry-and-top-tier-lessor-and-operator-yinson

I read this report at least 10 times so that I can understand the high debt of Yinson.

All the present 11 billion debt will be disappeared after FY2025 (January 2025).
1.) FPSO Anna Nery achieved financial acceptance in May-23, all the debt of this FPSO Anna Nery will be taken over by the oil company.
2.) FPSO Atlanta and FPSO Maria Quiteria will be delivered in the middle of next year (2024), all the debts of these FPSOs will be taken over by the oil company.
3.) FPSO Agogo will be delivered by Feb-26, all the debt of this FPSO will be taken over by the oil company in Feb-26. Please note that this oil company has paid Yinson a payment in advanced of USD500 million. Hence there is no debt on this FPSO.

The actual operating cash flow should reach over RM3bn in calendar year 2026 and is sustainable for at least another 15 years based on the firm period alone. This compared to a market cap of RM7.4bn today with total net debt of RM11bn.

The debt could be fully paid within a few years if the company does not take on a new project. The cash leftover for shareholders may equal 5 to 8 times of today’s market cap i.e. may equal 59.2 billion in 15 years time.

Please read the aforesaid article again and again, all your questions will be resolved.
The aforesaid article written by Oaklands Path on Yinson is very good, you will understand the fundamental of Yinson very well.
Thank you.

Posted by BursaVulture > 2023-11-14 21:29 | Report Abuse

[ Charter Rates Per Day ]

Anna Nery USD 683,781/day +50K/day rate upgrade [ Mid of 2023 ]
Atlanta US$210,000/day [ Early of 2024 ]
Maria Quiteria USD624k/day [ Mid of 2024 ]
Agogo USD726k/day [ End of 2025 ]

Posted by OTB > 2023-11-14 22:32 | Report Abuse

I will not look into Yinson if there are no FPSO contracts.
The last 4 FPSO contracts are so huge that Yinson will make a PAT of 910 million a year for the next 15 to 25 years.

Yinson will make an EBIT of RM 1.5 billion on EPCIC construction on these 4 FPSOs in next 4 years (From 2022 until 2026 Feb).

FPSO - Yearly PAT
Anna - 188 million
MQ - 268 million
Atlanta - 147 million
Agogo - 307 million
Total - 910 million
Yinson will make a PAT of 910 million a year for the next 15 to 25 years.

The FPSO agreement between Yinson and the oil company is so good that I cannot believe it until I read the recommendation report from Oaklands Path.
Please note that all the debts of 4 FPSOs will be transferred to the oil company once the FPSO vessels are approved for oil production. There will be no debt at all after these 4 FPSO vessels are approved for oil production.
Thank you.

Posted by OTB > 2023-11-14 22:54 | Report Abuse

Based on BursaVulture's figures

FPSO Daily (k) Year (M) Year (M RM)
Anna 477.10 174.14 818.47
Atlanta 210.00 76.65 360.26
MQ 624.00 227.76 1070.47
Agogo 726.00 264.99 1245.45
Total 2037.10 743.54 3494.65

PBT = 39.6% of Revenue 1383.88 M
Tax = 32% = 442.84 M
PAT = RM 941.04 M

Yinson will make a PAT of 941 million a year for the next 15 to 25 years.

Posted by OTB > 2023-11-14 22:55 | Report Abuse

My figures at RM 910 million because I did not add USD 50k per day charter rate to FPSO Anna.
Yinson will make a PAT of 910 million a year for the next 15 to 25 years.

Thank you.

Posted by UncleFollower > 2023-11-17 01:21 | Report Abuse

I have said before that Yinson actually has a negative correlation with oil prices, within a certain range, for whatever reasons.

It can be counterintuitive but true.

Oil’s steep drop tonight is a good indicator. Let’s see if Yinson actually moves up tomorrow, it’s a weird world my friends

Posted by Permutation > 2023-11-24 11:54 | Report Abuse

EPF seems to be collecting at current prices. hope this continue till year end.

Posted by UncleFollower > 2023-12-05 14:57 | Report Abuse

I have started to nibble on Yinson warrants again after holding back for so long. Yinson has been underperforming for the whole year really. Warrants appear to me a better bet for small frys like me than the mother share 😆

Posted by vinc3362 > 2023-12-05 21:54 | Report Abuse

Good timing👍

Posted by UncleFollower > 2023-12-06 16:22 | Report Abuse

Can't say good timing 😂 we all know that catching the falling knife is for suckers, chasing it up always give much more satisfaction. Well...I have some proceeds from BPlant, just reallocating capital. Yinson such a gooooodddddddddddddd counter, testing everyone's patience