Yinson Holdings Berhad is a Malaysia-based investment holding and insurance agency. The Company's business segments are transport, trading and other operations segment, which includes rental, insurance and investment income. As of January 31, 2010, the Company had 300 trucks and five tugboats in operation. It also engaged about 200 trucks from other transport operators to supplement its transportation services to its customers. The Company's subsidiaries include Yinson Transport (M) Sdn. Bhd, which is engaged in the provision of transport services, trading in construction materials and rental of properties; Yinson Haulage Sdn. Bhd., which is a transport and haulage contractor; Yinson Shipping Sdn. Bhd., which is engaged in the provision of shipping and forwarding services, and Yinson Power Marine Sdn. Bhd. On July 7, 2011, it incorporated a 51%-owned subsidiary, REGULUS OFFSHORE SDN. BHD. In October 2011, the Company incorporated YINSON INDAH LIMITED.
PiggybankRecently,YINSON board of directors have been reshuffled including three resignations (1 executive director and 2 independent non-executive directors), re-designation of Mr Lim Han Joeh as non-executive director from executive director and appointment of four new directors, namely Dato' Nasir (EPF), Datuk Raja Zaharaton (ex-EPU), Dato' Wee (finance) & Datuk Syed Zaid (legal expert). YINSON is looking to appoint one more director with oil and gas experience to join the board. We are positive on the new appointment as it provides diversified skills and experience to the company.
mamipokoThe price of dividend has been factored in long ago. I somehow have a different opinion to many of the rest after much research on this counter and it is important to note that analyst reports for this stock do not properly comment on the high gearing level (>1x) of the company and borrowings which are ballooning - Yes this is for the OCTP contract but not much research done on this. That said, the company has undergone private placements (at cheap pricing) frequently to repay its Bank borrowings but this comes at a price with heavy dilution of shares for existing shareholders. The company would be in a worse off position post EX day and I foresee a fall in this stock if not supported by funds. I would go for a sell on this counter as it may not seem as rosy as pictured by most of these junior analysts, with TP of RM2.90. Happy investing.
Euphoria87anyone know it is we can sell it today to entitle the dividend? The price already reflect the dividend that we going to get, but i thought the ex date is today? 3.Nov ? 3.18-0.146 = 3.03
Jayjay888Share buy back, EPF buying too. Any good news anticipating coming for Yinson?
zexonstill managed to secure new fpso despite depress market sentiment..Bravo Yinson
teoctLetter of intent obtained for Ca rong - vietnam fpso. Should be firm contract by April / May 2017.
KiksterHi guys, any idea why it jumped so much yesterday?
nikicheongKikster, seems like a foreign fund dumped money into the stock. Usually when you see a large spike it's a foreign fund, local funds will not spike it up as much. Foreign funds care less about short term pullbacks. So it must mean they're seeing something good here long-term.
KiksterOh ok, good stuff, thanks for sharing nikicheong! :)
zexonOn 31 March 2017, PTSC Asia Pacific Pte Ltd (“PTSC AP”), a joint venture company owned by Yinson Holdings Berhad (“YINSON” or “the Company”) and PetroVietnam Technical Services Corporation (“PTSC”) (each holding 49% and 51% respectively in PTSC AP) had received a letter (“Letter”) from PTSC (in its capacity as charterer under the Bareboat Charter Contract dated 28 December 2012 (“Bareboat Charter”)). In the Letter, PTSC informed that on 31 March 2017, Lam Son Joint Operating Company (“LSJOC”), the operator of Lam Son Field (as defined below) had issued a notice of termination to PTSC under the Time Charter Contract for FPSO PTSC Lam Son dated 24 May 2012 entered by LSJOC and PTSC (“Time Charter”). The service of such notice of termination is pursuant to the liquidation of LSJOC which is scheduled to occur on 30 June 2017.
zexonSee finally they had announced faso Lam soon termination notice. GAP DOWN tomorrow
zexonThis case will end up like Armada Claire issue. It needs to go through time consuming legal action before receive any compensation.
nikicheongSo how, this company becomes like Armada, or will the gap down be a momentary overreaction? Wish I could put some buy orders at RM3.00
weng77Smart director, dumped 8.5 mil shares in early March.... Insider always the winner... Current Q will most likely incur lost due to write off of FPSO...
my shareinvestYes, confirmed that Yinson's 49%-owned firm gets notice of termination & the contract is worth RM3.3bil.
Shirley6866newbie here. Does it mean that Yinson lost RM3.3bil in contract?
Goinvest88good company, lost RM3.3bil contract, share price still stable