Sslee

Referring to Yinson Bhd's FY2025 Q1 results, could management explain in detail the financial treatments
that have led some analysts to comment:
I. "Using financial tools to boost equity returns…"
II. "Stripping off RM 151 million EPCIC earnings to arrive at core profits…"
III. "IFRS accounting distortion is growing alongside its leverage…"
Reply:
Yinson has clarified the interpretation of the analysts. First of all, financial tools do boost equity returns. Every time Yinson refinances instead of getting equity much later, especially for non-recourse debt, Yinson brings back its returns earlier. When you bring cash flows earlier, financially your NPV goes up. It is not a financial tool, rather it is called “refinancing”. Refinancing allows Yinson to bring cash flows back to shareholders earlier, and to de-risk the project because it is non-recourse. It improves free cash flow, and that is how Yinson recycles its capital.

From the follow-up article, it mentioned how Yinson recycles capital. If you were to look at core profits and EPCIC returns, you would need to strip off the revenues and the profits from EPCIC and add back the interest incurred for the EPC. Yinson’s business model is EPCIC, Lease and Operate, where the finance lease accounting treatment based on IFRS has led to some distortion. Yinson will present operating lease accounting numbers alongside IFRS accounting numbers from next year onwards. This is so that Yinson’s investors can have a better understanding of how the accounts will look from a finance lease and operating lease perspective. IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

1 week ago

Sslee

1. LAU CHUAN HOOI
May I know, what is the company's future outlook? Will the board consider giving door gifts as a token of appreciation?
Reply:
Yinson is optimistic about its direction. The FPSO market is thriving, with 12 new FPSO awards annually. To make a project successful, the company needs to know the outlook of projects available and have a suitable project team. Despite the capital-intensive nature of the business, Yinson successfully funds all its projects. Yinson also manages to tap into the private capital and bonds markets. With the FPSO Agogo project set for delivery by end-2025, EBITDA is expected to reach about USD 1 billion annually from 2026. Yinson is very optimistic about the outlook of the business growth and also the ability to pay shareholders dividends on a quarterly basis which Yinson started last quarter.

2. CHUA SONG YUN
Given the aggressive expansion, the nature of front-loaded costs for FPSOs, complex finance lease
accounting, and substantial negative operating cash flow due to new FPSO constructions, the market and shareholders may find it difficult to understand Yinson's value. With FPSO Atlanta, FPSO Maria Quitéria, and FPSO Agogo set to commence their charter periods in the next year or two, assuming no new FPSOs are added, could management present the projected free cash flow expected from the FPSO segment over the next 10 years? This would help shareholders better appreciate the company's value.

Reply:
Yinson does expect 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.

1 week ago

Sslee

Mike-tikus,
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

Mike-tikus you better sell your jaks and buy Yinson.
Yinson FCF USD 200 – USD 300 million 2026 onward while you need to wait till 2030 for jaks FCF to turn positive

1 week ago

Johnchew5

Hoho why Lambo is delisted on October 2024 since u used so many aka id to promote on 2020 !🤣🤔

—-

Posted by JediMaster1 > 31 minutes ago | Report Abuse

少来担心云升只要银行能贷款给他做更大的生意就没问题，不像Jaks這只烂股想和银行借钱都借不到那是多么的可悲 ! 也只能靠发私募发行股票来维持养命迟早這只股票会在股市消失到無影無踪 ！

1 week ago

Johnchew5

Hoho Konartist sslleee is Jaks below Ratios better than Yinson :


Yinson

Current Ratio 0.64
Debt-Equity (DE) Ratio 2.27
FCF Yield -10.24 %



Jaks

Current Ratio 1.04
Debt-Equity (DE) Ratio 0.64
FCF Yield 0.81 %

1 week ago

Johnchew5

Hoho Konartist sslleee why u shouting so happily that Yinson waves 2 is coming ?🤣🤔

Waves 2 is Downtrend le ! Shl be dropped until what Price ? Or lower high ? Or Lower Low ?🤣🤔

1 week ago

Johnchew5

Hoho why both of u shy away from Jtiasa forum !🤣

1 week ago

JediMaster1

乘上云升号会把你带上富贵之路 ！搭上Jaks 会把你帶上不归路 !

1 week ago

Johnchew5

Hoho Konartist sslleee said Jaks invested in RE Solar is no good .. the Returns is slow , cannot paid the Debt !🤣👉

—

Long Term investment in Renewables :

Yinson aims to allocate 30 % of its equity towards renewable n green assets by 2030 !

1 week ago

Johnchew5

Hoho I mean Konartist sslleee n Philip !

1 week ago

Johnchew5

Hoho Konartist sslleee know what is Current Ratio ? Oredi posted le .. still did not understand:

( to gauge working capital ratio within a year ）.

1 week ago

Johnchew5

Hoho as said Let’s see Yinson can reduced the Debt by end 2025 ?

1 week ago

Johnchew5

Hoho FPSO Atlanta is initially to be commissioned by February 2024 … now 1st oil is delayed many times… still not yet 1st oil ? Why , technically issues ??😱

1 week ago

Johnchew5

Hoho so is worst than Jaks that the share of profit from Finance investing !


—

This is so that Yinson’s investors can have a better understanding of how the accounts will look from a finance lease and operating lease perspective.

IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

1 week ago

Sslee

Aiyoyo Mike-tikus untill now still do not know jaks operating cashflow is negative and need to depend on free money from investors or shareholders with yearly PP or RI for working capital and loans repayment.

Still no bola to answer a simple question from Philip?
How many million shares of Jaks are you currently holding?

1 week ago

Johnchew5

Hoho hope is not like TDM .. New auditor on 2019 .. verified the mis-location issues .. 2019 in Huge Loss n verified 2018 from Profit to Loss !

1 week ago

Johnchew5

Hoho konartist sslleee why Phillippe still Promoted Serba even is announced in Account Fraud ? Same as u on Xingquin until is delisted ??

Forumers can learn from both of u buy what is not understand ?

Will Yinson be the another one per the news article ?

1 week ago

Johnchew5

Hoho no facts n figures ke ?

1 week ago

Sslee

Jaks
Period End Year End
30-Jun-2024 31-Dec-2023
RM'000 RM'000
Current Assets
Inventories 483 483
Contract assets 92,236 102,030
Trade and Other Receivables 421,135 417,625
Amount due from Joint Venture 10,291 10,291
Deposits placed with licensed banks 12,074 22,222
Cash and bank balances 31,955 41,803
568,174 594,454

Current Liabilities
Trade and Other Payables 457,827 476,105
Bank borrowings 59,894 68,200
Bank overdraft 5,877 5,911 -
523,598 550,216

With negative cashflow from operating activitives and year end impairment lose of receivables and contract assets.
Can jaks repay the current bank borrowing of RM 59,894,000?
More PP or RI coming?

1 week ago

Johnchew5

Hoho Konartist sslleee why u promoted Yinson as Growth stock ?

Yinson :

CAGR : 3Y 83% TTM. 31.9 %



Jaks :

CAGR : 3Y 29.9% TTM 28.4 %

1 week ago

Johnchew5

Hoho as Philip said why banks willing to Lend money to Yinson ? But USD loans with interest 12 % n 13.88 % .. is very high interest le !

Why so many Investors interested in Jaks PP … oredi issued 5 times PP le !

Why Hexcap n Binacom PP , no investors are interested le !

Why Yinson not partially raise funding by PP ???🤣🤔

1 week ago

JediMaster1

Jaks 就一只等死的烂股😆

1 week ago

Johnchew5

Hoho Repost … Konartist sslleee still half past 6 ke … own claimed FA n TA Guru here ?🤣🤣🤣🤔

Posted by Johnchew5 > 20 minutes ago | Report Abuse

Hoho so is worst than Jaks that the share of profit from Finance investing !


—

This is so that Yinson’s investors can have a better understanding of how the accounts will look from a finance lease and operating lease perspective.

IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

1 week ago

Johnchew5

Jaks non current asset :

Investment in Joint Venture:

QR ended

> March 2016 = 128,297,000

> March 2019 = 197,171,000

> March 2020 = 362,479,000

> March 2021 = 601,150,000
( note : Profit from Construction of the Power Plant is ard RM 400 Million .. Final COD on January 2021 )

> March 2022 = 748,656,000

> March 2023 = 829,105,000

> September 2023 = 897,378,000

> December 2023 = 904,495,000

> March 2024 = 936,836,000

> June 2024 = 943 ,960,000

1 week ago

Johnchew5

Jaks Annual Revenue and Net Profit / ( Loss ) :


1.) FYE2020 : RM 259.4 million with Loss ( RM 80.5 Million. )


2.) FYE2021 : RM 109.7 million with Net Profit RM 51.9 million. ( Vietnam Joint Venture Power Plant 1200 MW with EPCC RM 8.7 billion is COD on January 2021 )


3.) FYE 2022 : RM 89.8 million with Net Profit RM 53.5 million.


4.) FYE 2023 : 1st Half Revenue RM 17.47 million with Net Profit RM 33.19 million.


>>👉 1QR is Profit RM 14.08 million , 2QR is Profit RM 19.11 million , 3QR is Rm 7.15 million…4QR is Loss ( 24.8 million )

👉👉 Rm 37.787 million with Net Profit RM 15.527 million..


5.) FYE 2024 :

>> 👉1QR : RM 14.2 million with Net Profit RM 12.4 million.

>> 👉2QR : RM 13.1 million with Net Profit RM 8.4 million.

( Note : Vietnam Power Plant Joint venture company is 30 % .. an associate company) .

1 week ago

Johnchew5

Hoho worried hidden risks on Yinson QR ended April 2024 n July 2024 :

>QR ended April 2024 , Net Profit RM 203 million- RM 236 million ( increased of Loans n Borrowings) = - RM 33 million.

>> QR ended July 2024 , Net Profit RM 203 million- RM 3,025 million ( increased of Loans n borrowings) = - RM 2,822 million.😱



-

Yinson Loans n Borrowings:


3.) QR ended July 2024

RM 19,580 million


👉Compared Q to Q : is increased by RM 3,025 million.



2.) QR ended April 2024

RM 16,555 million.


👉Compared Q to Q : is increased by RM 236 million.


1.) QR ended January 2024

RM 16,319 million.

1 week ago

Johnchew5

Hoho u mean Konartist sslleee ke … bought Jaks on 2017 … sold on April 2023 !🤣

—
Posted by JediMaster1 > 4 minutes ago | Report Abuse

只有比猪还笨的人才会看上Jaks☠️☠️☠️

1 week ago

Johnchew5

Hoho Konartist sslleee posted is expert in IFRS ???

—

IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

1 week ago

Sslee

Aiyoyo,
It mean Mike-tikus or John-pig.

Me had been trading jaks for my free bintang beer many time only Mike-tikus or John-pig pasar malam TA told him jaks 18 floor is bottom and thus buy all the way up to 24 floor. Now trapped for one and a half year and had to go every forum to promote jaks 24/7/365 non-stop to no avail.

So now no more facts and figures only slander Mike-tikus or John-pig?

1 week ago

Sslee

Mike-tikus/John-pig still no bola to answer a simple question from Philip?
How many million shares of Jaks are you currently holding?

1 week ago

Johnchew5

Hoho the Konartist Kon gang :’

1.) Conartist Callvin : said here Bodo editor ( financial) , Bodo Remisier n Bodo ppl during Promoting Netx !

2.) SCIB promoting partner Koni3lurkker, half way changed name to Balia … said here Pariaaa country, ppl n food !

3.) Ularsawa ( ori id Dragonslayer in Netx n Sumatec , is banned permanently) .

KonartistLee used to shout “ 🐍sawa come to X forum to rescue him “

Also is one of the 3 member of Kacukan Tippu whom Tippu telegram newbies membership fees RM 100 !😱

4.) TinKosong KonpetHuang .. used aka similar n abusive id to post abusive n unethical comments!

The aka id MrHuangbk is banned permanently at recently !👍

5.) Konartist Abang Stockraider in Netx n Insas wayang .. after cursed forumers family in Bjcorp forum , n always cursed Netx forumer Dive into Sg Klang … oredi Missing in Action liaw … the curse arrow U-Turn shot on him … karma le !

6.) Income whom posted wifeyy ran away with forumer …said is BlowerPhang younger sibling wow !🤔

7.) Kon gang in Tunepro , Netx , Pasukhas, Hengyuan, Petronm : Probability aka Victoryong n Good123 … will post n delete own posts !

1 week ago

Johnchew5

Hoho Konartist sslleee yr idol Conartist Callvin stopped oredi in TSH le !

1 week ago

Johnchew5

Hoho why promoted Lambo since 2020 until is delisted on October 2024 .. using so many many aka id : listed 3 of them only : Alibaba / Scenery / Jedi1985 .. you had been slaughtered as piggg how many times ???🤣🤔


—-

Posted by JediMaster1 > 1 minute ago | Report Abuse

Sslee 是个智者 ！ 在这里只有John - pig 才是头猪广東說猪甘蠢就是你John 🐖🐖🐖

1 week ago

Johnchew5

Hoho same as Konartist sslleee being slaughtered in Jaks n SCIB !🤣🤣🤣🤔

1 week ago

xiaoeh

Mike is an interesting person
i have never seen one like Mike in my life
i3 is the place to learn
Everything

1 week ago

xiaoeh

loved i3

1 week ago

StarOfTheBull

Without Mike and SSLee, it is like a movie without quarelling or fighting, and it will be boring. 🤣

1 week ago

Johnchew5

Repost from Jtiasa:

Haha as Hoho posted in Yinson .. Konartist sslleee play double head 🐍.. to cover his half past 6 owned claimed FA n TA Guru in Yinson:

1.) said going to see Yinson 5 waves .. but did not know the waves name is EW !🤣1


2.) shouting happily waves 2 is coming .. did not know waves 2 is Downtrend.. being caught then changed to Negative 🐍 head to cover his half past 6 !🤣2


3.) said Yinson is a Growth stock but did not know the Selection Criteria, now shamelessly twisting by recycled my facts n figures…latest one is on FFB peak season production output is from May to November.. twisting n told lies that I did not know Peak season is on 2nd Half of each year !🤣3


4.) Konartist sslleee had defended Phillipp during he posted Serba subsidiaries screenshot as I found variance between the screenshot n his thread figures.

Now in Jtiasa forum .. Konartist sslleee defended himself by saying he did not promote Xingquin which is delisted on 2019 due to Account Fraud… but Phillipp promoted Serba in a blog even is announced in Account Fraud!🤣4 👍


5.) Konartist sslleee Abang Stockraider in Netx RI n Insas RI with WC wayang whom exposed sslleee other Kon gang in Tunepro, Netx .. later in Hengyuan n Petronm .. Probability is aka id of VictorYong ! 🤣5🤔

Stockraider is MIA oredi ! Kena Tippu by Konartist le !🤣🤣🤔

1 week ago

Sslee

Repost from jayatiasa
Aiyoyo Mike-tikus can't read financial report, cut and paste financial data from pasar malam source without understand it, his pasar malam TA told him jaks 18 floor is ground floor and he bought from 18 to 24 and trapped himself high high and need to go every forum to promote jaks with his half past six facts and figures 24/7/365 non stop for a year and half now to no avail.

1 week ago

Johnchew5

Hoho why the half past 6 Konartist sslleee always twisting n diverting to Jaks in Jtiasa forum … 🤣🤔

1 week ago

tommyth

Childish Sslee & John. You both are in bad marriage.

1 week ago

Sslee

I make a mistake of trying to teach a crab how to walk straight. My mistake and my apology.

The best way to treat this low IQ Mike-tikus is totally ignore him.

1 week ago

Johnchew5

Hoho really laugh live me lo…as usual Konartist sslleee like to twisting by recycled my facts n figures and words..

I am calling him half past 6 Guru after he owned claimed FA n TA Guru in Yinson :

1.) said going to see 5 waves but didn’t know the waves name is EW .

Konartist sslleee shouting Waves 2 is coming so happily, thinking that is going Up trend but instead Waves 2 is going Downtrend!🤔


2.) even did not understand Labour Expenses n Capex ..

3.) What is Current Ratio ? ( to gauge working capital ratio within a year ）.

4.) What is Corporate Structure ? ( To understand the Corporate group of companies, including subsidiary n associates… and to plan corporate taxes ) .

5.) The latest one is not understand on ROIC ?

1 week ago

Johnchew5

2nd V.P Case Study in PA on 2021 with 2 objectives : 



👉 a) To share n learn Investment knowledge n skills as Newbie n ikanbilis. 



👉 b ) To Exposé kon man n actor… 

No Respect on Kon n Actor ..

1 week ago

Johnchew5

1st Lies :


Haha wow Konartist Sslleee is an “ Attention Seeker “ .., approached me 1st in Netx on 2020 telling Lies replied my post which directed to Konstockraider to bail out Stockraider on Insas-WB whom play wayang in Insas-WB forum with Calvin whom invested RM 5000 …


Then Konartist Sslleee said Raider Win 1 Myvi in Netx RI .. Raider said Win 2 Myvi… both blowing bla bla bla clon the Wayang Script on Insas-PB and WC …

After Konartist Sslleee posted in Netx , his Kon gang in Tunepro, Hengyuan, Petronm started to promote Netx … will post n delete own posts …..beware .

—-


Conartist Calvin n kon Stockraider had been Promoted Netx ( 1 of 46 kon stocks ) since 4Q 2019 until early 2021 ..

1 week ago

Johnchew5

Sslleee kon friends wow , as he said be careful choosing yr friend … The house of Konartist Sslleee 🐍 Kon gang :


1) konartist sslleee aka / partners : Probability aka Victor Yong aka Good123 ..in Tunepro, Netx , Hengyuan n Petronm.



2) Kon Ularsawa 🐍 🪱 aka Ori id Dragonslayer ( is ban permanently ) : Sslleee paid To be Hired Macai …in Netx n Insas



3) Attention Seeker pokkai kon Stingray ( Kon Ularsawa 1st Sifutt ) Sleeping beauty loss naked until hibernated more than 5 years ..Kacukan Tippu gang ..


3.b ) Tin Kosong Pokkai KonpetHuangbk7 : Sleeping Beauty loss naked until hibernated more than 7 years …used similar id/abusive id to post abusive n unethical contents !


4) Koni3lurkker aka Balian , promoted SCIB halfway changed name . ( Sslleee promoting partner in SCIB ).


👉 Posted by Bruce_Wayne > week ago | Report Abuse

PearlWhite, 

Wanna play? 


I.Am.PSAi3Alert. 

in Bplant …Twisting Jtiasa figures is Bplant figures ! And in Jaks with Sslleee n KonpetHuang .

—

5) kon Stockraider aka Gohku in Netx , Insas , Bjcorp .

1 week ago

BursaVulture

"Don't blame a clown for acting like a clown. Blame yourself for going to the circus."

It takes 2 hands to clap.

1 week ago

Sslee

“Never wrestle with a pig because you'll both get dirty and the pig likes it." - George Bernard Shaw

1 week ago

Johnchew5

Emm.. the donkey Konartist ran away from Jtiasa became a pig here ke !🤣🤣🤣


—-

Copied from Jtiasa :

Posted by Mikecyc > 15 minutes ago | Report Abuse

Haha seems Konartist sslleee accommodation really did not had a mirror… called Jaks CEO is a donkey … btw his 1st win n only win in Insas WC RM 250,000 since investing from 2016 to 2023 is a Lie .. twisting with lie by lie … just karma lo .. a Konartist donkey bray !🤣🤣🤣

1 week ago

Vdhawan

Worth to apply the reinvestment plan?

6 days ago