[YINSON HOLDINGS BHD：随着新的替代能源资源的出现以及金融机构对该行业的风险偏好，石油和天然气行业的长期前景依然充满挑战]

近海和海洋：
海事部门于回顾财政期间的收入减少3151万令吉至2.0346亿令吉，而截至2018年4月30日止的相应财政期间则为2.3497亿令吉。减少的主要原因是FPSO Allan在加蓬Olowi油田的租赁收入贡献停止的影响，贸易及其他应收款项减值亏损增加及净不利外汇变动，但被较低折旧和摊销所抵销。

其他业务：
与截至2018年4月30日止的相应财政期间亏损1,040万令吉相比，该部门实现利润为595万令吉。

合资企业的表现：
截至2019年4月30日止财政期间，合营公司业绩的利润增加447万令吉至562万令吉，而截至2018年4月30日止的相应财政期间则为115万令吉，主要由于在没有FPSO John Agyekum Kufuor（“FPSO JAK”）的运营和维护的损失的情况下，净额利润贡献为420万令吉。

税后综合利润：
由于上一财政年度FPSO Allan的租船合约停止使收入减少导致利润贡献减少，贸易及其他应收款项减值亏损282万令吉及较高税务开支307万令吉，导致PAT的增加被抵销。

合并财务状况：
与截至2019年1月31日止的上一个经审计季度相比，云升控股的短期负债由13.1871亿令吉减少了1.1923亿令吉或9.04％至11.9948亿令吉，主要是由于偿还短期贷款及借款及替换现有转换项目的应付款项成为长期贷款和借款。

云升控股本财政年度第一季度的税前利润较上一季度的9,566万令吉下降16.71％或1598万令吉至7968万令吉。该减少主要是由于上一财政年度末FPSO Allan的租约停止导致收入贡献减少以及没有物业，厂房及设备减值亏损为3877万令吉的正转回，但被较低的减值损失1817万令吉，净有利外汇变动1972万令吉，折旧和摊销减少到1782万令吉，融资成本降低到517万令吉，合资企业的利润较高为453万令吉所抵消。

前景：
随着新的替代能源资源的出现以及金融机构对该行业的风险偏好，石油和天然气行业的长期前景依然充满挑战。目前全球经济总体面临着贸易保护主义抬头​​，地缘政治条件不确定以及下行风险加大的风险。主要经济体的货币政策不确定性因未解决的全球贸易争端的延续而增长。在充满挑战的全球经济环境及其他货币对美元的波动中，云升控股将努力在截至2020年1月31日的下一个财政年度取得令人满意的业绩。
-----------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.35 (dividend RM0.015) in 10 months 15 days, total return is 90.9%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.35 in 6 months 11 days, total return is 68.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 (dividend RM0.04) in 11 months 26 days, total return is 67.3%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.70 (dividend RM0.0825) in 8 months 13 days, total return is 47.2%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 5 months 7 days, total return is 30.4%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 (dividend RM0.008) in 6 months 4 days, total return is 30.4%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.52 (dividend RM0.035) in 7 months 9 days, total return is 22.4%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.00 in 5 months 28 days, total return is 17.6%

i) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.65 (dividends RM0.03) in 8 months 28 days, total return is 17.5%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.16 in 5 months 7 days, total return is 11.5%

k) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.64 in 3 months 3 days, total return is 5.8%

l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.03 (dividends RM0.084) in 10 months 29 days, total return is 3.9%

我希望将我的策略分享给读者，希望他们在阅读后能够表现出色。我正在使用基本面分析（Fundamental Analysis）：

预计公司每年的增长率必须> 14％

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人，可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

1)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐

7月14日星期日：AG Hotel Penang, George Town

7月28日星期日：Silka Johor Bahru Hotel, Johor Bahru

9月7日星期六：Hotel Sri Petaling, KL

2)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡

7月27日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心

8月11日星期日：AG Hotel Penang, George Town 4份点心

9月8日星期日：Hotel Sri Petaling, KL 3份点心

3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡

7月13日星期六：AG Hotel Penang, George Town 4份点心

7月21日星期日：Hotel Sri Petaling, KL 3份点心

7月26日星期五：Silka Johor Bahru Hotel, Johor Bahru 5份点心

有兴趣的朋友，可以电邮或PM FB page联络我
email：jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043

为了方便大家查询我写过的公司和选股文章以及视频，制作了索引。大家只要依照日期，就能从这 
https://web.facebook.com/jamesshareinvest/posts/2311638045769603 找到公司和选股文章以及视频。

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

这个是我的TELEGRAM Group链接，大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram，获取最新的资讯： https://www.instagram.com/p/BzO8KjWHjd-

这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。

James Ng
----------------------------------
[YINSON HOLDINGS BHD: The long-term outlook in the oil and gas industry remains challenging with emerging of new alternative energy resources and financial institutions risk appetite towards the sector]

Offshore & Marine:
Revenue from offshore & marine segment for the financial period under review has decreased by RM31.51 million to RM203.46 million as compared to RM234.97 million in the corresponding financial period ended 30 April 2018. The decrease mainly due to the effect of cessation of revenue contribution from FPSO Allan’s charter at Olowi field in Gabon, higher impairment loss on trade and other receivables and net unfavorable foreign exchange movement, set-off by lower depreciation and amortization.

Other Operations:
The segment turned into profit at RM5.95 million as compare to loss of RM10.40 million in the corresponding financial period ended 30 April 2018.

Results of Joint Ventures and Associates:
The share of the results of joint ventures has improved by RM4.47 million to profit of RM5.62 million for the financial period ended 30 April 2019 as compared to RM1.15 million for the corresponding financial period ended 30 April 2018 mainly due to net profit contribution of RM4.20 million in the absence of loss recorded from the operation and maintenance entity of FPSO John Agyekum Kufuor (“FPSO JAK”).

Consolidated profit after tax:
The increased of PAT is set-off by lower profit contribution on weaker recorded revenue upon FPSO Allan’s charter cessation at the end of last financial year, impairment loss on trade and other receivables of RM2.82 million and higher tax expenses of RM3.07 million.

Consolidated financial position:
The Group’s current liabilities has decreased by RM119.23 million or 9.04% to RM1,199.48 million from RM1,318.71 million for the last audited financial year ended 31 January 2019 mainly due to repayment of short-term loans and borrowings and substitution of existing conversion project’s payables with long-term loans and borrowings.

The Group’s profit before tax for the first quarter of current financial year is lower by 16.71% or RM15.98 million to RM79.68 million as compared to the RM95.66 million in the immediate preceding quarter. The decrease was mainly attributable to lower profit contribution on weaker recorded revenue upon FPSO Allan’s charter cessation at the end of last financial year and absence of the positive reversal effect on impairment loss on property, plant & equipment of RM38.77 million, set-off mainly by lower impairment losses of RM18.17 million, net favorable forex movement of RM19.72 million, lower depreciation and amortization of RM17.82 million, lower financing cost of RM5.17 million and higher share of profit in joint ventures of RM4.53 million.

Prospects:
The long-term outlook in the oil and gas industry remains challenging with emerging of new alternative energy resources and financial institutions risk appetite towards the sector. Overall current global economic is exposed to the risk of increasing trade protectionism, geopolitical conditions uncertainty, with higher downside risks. The monetary policy uncertainties in major economies has growth on continuation of unsettled global trade disputes. Amid the challenging global economic environment and the volatility of other currencies against US Dollar, the Group shall strive to achieve satisfactory results for the next financial year ending 31 January 2020.
--------------------------------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.35 (dividend RM0.015) in 10 months 15 days, total return is 90.9%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.35 in 6 months 11 days, total return is 68.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 (dividend RM0.04) in 11 months 26 days, total return is 67.3%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.70 (dividend RM0.0825) in 8 months 13 days, total return is 47.2%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 5 months 7 days, total return is 30.4%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 (dividend RM0.008) in 6 months 4 days, total return is 30.4%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.52 (dividend RM0.035) in 7 months 9 days, total return is 22.4%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.00 in 5 months 28 days, total return is 17.6%

i) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.65 (dividends RM0.03) in 8 months 28 days, total return is 17.5%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.16 in 5 months 7 days, total return is 11.5%

k) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.64 in 3 months 3 days, total return is 5.8%

l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.03 (dividends RM0.084) in 10 months 29 days, total return is 3.9%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://web.facebook.com/jamesshareinvest/posts/2311638045769603 by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng