@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…

2:30 up or down? every quarter says next quarter will be better....

I own MFCB too, i call super crazy high profit for next QR pure BS. Most likely they will sign a new deal, probably extension from 25 years to 30? who knows. if you read the report, you know 90% profit from hydro, no more room to grow.

why would it be crazy? you can say slightly higher but crazy is too crazy. almost 90% profit is from their hydro. unless all the other subsidiaries grow at exponential rate, unlikely to be crazy. hydro power gen already somewhat max.

yinson wont fly until they see all 3 fpso get paid... not first oil but cold hard cash paid by the oil co... till then.... need to wait until hair becomes white.

@Plantermen

Francis Yeoh's brother runs YTLP, Francis Yeoh runs YTL. It was YTLP that lifted the entire group, not YTL.

Yinson.... gotta wait till all 3 FPSO struck first oil and get paid.... till then... slowly wait.

How in the world is their revenue so low... this probably means even before they go IPO they already fake the accounts? Seems like the only real business they have is MRO for Petronas, the others are all fakes.

@NatsukoMishima

Yes, abrdn does trade, can be seen with mynews and kossan. They somehow is good with timing. If they are right again, this could mean they know skp is about to announce good news and stock will go up…. Fly… this i dont know… up very likely.

Honestly, am thinking of cutting loss. But the only thing holding me back is seeing abrdn investing in a big way. I am sure abrdn have access to the ceo/management and toured the factory. before mynews launch CU, abrdn bought while EPF sold. then with the super long q seen at the first CU store, stock price went up, abrdn sold and took profit.

lets hope abrdn knows something we dont.

According to PB Investment:

"Management has also highlighted the need to widen its customer base, an effort which we gather is bearing some fruit with the recent securing of orders from a new client, though the amount is still currently insignificant."

And RHB said:

"We believe any material new contract win could materialise as early as 2H2024. Our FY25F earnings have taken into account the gradual recovery in existing customers’ volume and new contract wins of MYR100m."

My understanding:

I guess SKP managed to find a new client, probably in testing trial stage. Big or small client, nobody knows. I guess if everything goes accordingly, they will sign firm contract on 2h2024?

big loss... confirm fly later due to impairment.

what tech has hextech got?

@xiaoeh
I think majority of EMS like VS, SKP, FPI and etc make consumer goods. If the economy picks up and they starts to spend again, they will buy more products that EMS makes.

@nightfly
PCB to make boards for the product. Vacuum, dryer and etc all also have circuit board.

@xiaoeh

you cant put inari and skp together, both are different. just like putting kerjaya and mahsing together. skp is a contract manufacturer.

@xiaoeh

SKP is not even tech/semi conductor, they are EMS. What has Tech got to do with SKP? Do you know what you are talking about? You might as well say Palm Oil price will drop and EMS counter will follow too.

Auditor also dont want to sign off… whatever assets they have… really exist or not?

Hanky Panky.... Serba 2.0

https://theedgemalaysia.com/node/702202