Repost:
Aiyoyo Mike/John Donkey when confront with hard fact still shamelessly keep spinning except answer some simple questions.

By now all should know what a low class and despicable person Mike/John donkey is.

I stop here.

Mike/John Donkey can you read Jayatiasa 2024
CONDENSED STATEMENTS OF CASH FLOWS and answer what is jayatiasa 2024
Depreciation and amortisation?
Fair value changes in biological assets?
Impairment on property, plant and equipment?
Property, plant and equipment written off?


Jayatiasa hard fact
CONDENSED STATEMENTS OF CASH FLOWS
Current Corresponding
12 months ended 12 months ended
30/06/2024 30/06/2023
RM'000 RM'000
Cash Flows from Operating Activities
Profit before taxation 206,593 166,797
Adjustments for:
Impairment of receivables - 112
Depreciation and amortisation 137,706 134,717
Fair value changes in biological assets 27,967 10,443
Gain on early termination of leased assets - (41)
Impairment on property, plant and equipment 2,389 2,190
Interest expenses 17,932 24,503
Interest income (9,035) (4,835)
Net loss/(from) on disposal of property, plant and equipment 10,030 (1,352)
Net unrealised foreign exchange gain (25) (185)
Property, plant and equipment written off 2,556 2,494
Provision for obsolete inventories 864
Operating cash flows before working capital changes 395,914 335,906
Net change in current assets (9,168) 23,479
Net change in current liabilities 5,095 (21,584)
Cash flows from operations 391,841 337,801
Interest received 9,035 4,835
Interest paid (17,932) (24,503)
Income taxes paid, net of refund (22,915) (20,945)
Net cash flows from operating activities 360,029 297,188

Someone not even know share of profit of associate companies is paper profit and under operating cashflow you need to deduct the share of profit.

Whrease depreciation and amortisation make your profit look small but under cashflow from operation you add back the depreciation and amortisation.

No wonder somoeone trapped high at Jaks (negative cash flow) and needed yearly PP or RI and now MTN for working capital and repayment to bankers and creditors

At the end who will pay for AI?
In the age of cumputer every one and every business will pay for microsoft preinstalled programe and bought special software to run the cumputer so that our work can be done more easily and productively.
In the age of AI, will everyone and every business run AI to make their job hyper efficient?
Or even better replaced manpower at office and workfloor woth humanoid robots?

Did calvintaneng examined the reason know he inccured so many hate spam is because he like to go to other people stocks forum thread and ask people to sell their stock and buy his over promote and overpromised stocks when his promoted stocks FA are inferior to thos stocks he ask people to sell

Questiom 2. As at 27 September 2024 Mr. Market only valued the whole of Capital A at RM4.049
billion. Why pay RM 3 billion just for AAAGL?

Answer
● As responded in Query No. 1 above, the AAAGL Purchase Consideration is fair and justifiable as explained in Section 4.3, Part A of the Circular.

● The market price reflects the overall market sentiment and external factors, which are beyond the Company’s control. Market prices can fluctuate and may not reflect the underlying value of the business / subject companies.

● The RM3,000 million purchase consideration for AAAGL was arrived at on a willing buyer willing seller basis after a series of negotiation with Capital A and taking into consideration, amongst others, recovery phase of the aviation industry as well as the range of valuation for the entire AAAGL Equity Interest of between RM2,880.00 million and RM3,691.00 million as at the valuation date of 31 December 2023 based on the valuation undertaken by Deloitte.

Will AAX potential RM 1 bollion PP investor/investors be convinced with what BOD assurance that the Board has indeed duly and carefully deliberated the reports by Deloitte prior to concurring with the Company’s objective in this corporate exercise, i.e., advancing its growth ambitions for the future, driven particularly by the aircraft orderbook of close to 400 aircraft, facilitating our continued growth for years to come

Circular Part 1:
PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED HELD BY CAPITAL A BERHAD FOR A PURCHASE CONSIDERATION OF RM3,000.00 MILLION TO BE SATISFIED ENTIRELY VIA THE ALLOTMENT AND ISSUANCE OF 2,307,692,307 NEW SHARES AT AN ISSUE PRICE OF RM1.30 EACH (“PROPOSED AAAGL ACQUISITION”);

From CapitalA FYE 2023 report: Summarised statements of financial position as at 31th December are as follows:
Effective Holding
AAV: IAA: PAA
40.71%: 47.43%: 97.71% (99.66 latest)
FYE 2023: FYE 2023: FYE 2023
RM’000: RM’000: RM’000
Non-current assets: 8,094,574:1,627,381: 908,863
Current assets: 1,831,039: 231,987: 242,429
Non-current liabilities: (6,223,938): (2,283,702): (1,679,148)
Current liabilities: (2,573,670): (1,965,010): (3,205,168)
Net (liabilities)/assets: 1,128,005: (2,389,344): (3,733,024)

Question 1: Is BOD imprudent and extremely generous in paying RM 3 billion for AAAGL that is still PAT negative and with shareholders’ deficit of RM (4,515,397,000) and with total borrowings, debentures and lease liabilities of RM 9,638,715,000?

Answer; The Board (save for our Interested Directors) has deliberated a few rounds on the Proposals. The Proposed Acquisitions would enable the formation of the New Aviation Group to better serve the markets we operate in.

Deloitte Corporate Advisory Services Sdn Bhd (“Deloitte”), as the independent valuer was appointed to provide independent third-party insights into the equity value of AirAsia Berhad (“AAB”) and AAAGL (collectively, “Target Companies”), and upon consideration of Target Companies’ historical performances, forward plans and strategy, including but not limited to growth and enhanced synergistic benefits of the airlines, brand strength, traffic rights as well as the future aircraft orderbook, had presented the published valuations incorporated within the Circular to Shareholders
dated 24 September 2024.

WYNCORP Advisory Sdn Bhd (“WYNCORP”), as the independent adviser had also provided satisfactory representation that the rationale and valuation in relation to the exercise are appropriate and reasonable. Guided by the esteemed lineup of independent advisors, please do rest assured that the Board has indeed duly and carefully deliberated the reports by Deloitte prior to concurring with the Company’s objective in this corporate exercise, i.e., advancing its growth ambitions for the future, driven particularly by the aircraft orderbook of close to 400 aircraft, facilitating our continued growth for years to come.

Historical financial performances and financial positions of the Target Companies were adversely impacted by COVID-19; the formation of the New Aviation Group will ensure that the Company is well-positioned to capitalise on the recovery of the aviation industry.

PROPOSED DISPOSAL BY CAPITAL A BERHAD ("COMPANY") OF ITS 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED ("AAAGL") TO AIRASIA X BERHAD ("AAX") FOR A DISPOSAL CONSIDERATION OF RM3,000.0 MILLION TO BE SATISFIED ENTIRELY VIA THE ALLOTMENT AND ISSUANCE OF 2,307,692,307 NEW ORDINARY SHARES IN AAX ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM1.30 EACH.

The problem of getting investor/investors to take up the RM 1 billion AAX PP is did AAAGL really worth 2,307,692,307 new AAX shares ? And for RM 1 billion how many new AAX shares PP investor/investors will get?

“Whosoever therefore humbles himself as this little child is the greatest in the kingdom of heaven” is a verse from the Bible, Matthew 18:4. Jesus used this verse to teach that humility is the mark of true greatness.

At time I just wonder why the need or urge to recommend so many stocks and at the end inccured so many hate spam.

The reality, if you bought a full basket of apple for sure there will be a few rottan apple.

Roll over deferred lease liabilities into revenue bond is what You called magic?

The greatest magic Stony try to perform is getting CapA out of PN17 by you know how:

Repost:
Stock: [CAPITALA]: CAPITAL A BERHAD
Jan 24, 2025 7:54 AM | Report Abuse

https://theedgemalaysia.com/node/727957
Capital A can exit PN17 before branding biz carve-out, says Fernandes
The proposed RM6.68 billion disposal of AirAsia Bhd and AirAsia Aviation Group Ltd to AAX will lead to a pro forma gain of over RM18 billion when the transfer of accumulated losses in the aviation business is included, according to Capital A

The only problems is AAX need to raise 1 billion thro' PP to prevent itself from falling into PN17 post acquisition

A magic trick is essentially just an illusion, meaning it creates the appearance of something impossible happening through skillful manipulation and deception, rather than actual supernatural powers

The goal of a magician is to create an illusion that seems impossible by cleverly directing the audience's attention away from the secret methods used.

The question why bought over debts laden PAA from JV partner when PAA can't compete with Cebu Pacific Air (5J) –2,445,185 Seats?

And can IAA compete with Lion Air (JT) – 2,833,937 Seats in Indonesia?

And in Malaysia you still need to compete with Batik air.

By the way know how much lose incurred at big pay?

And can AA travel, ride, hotel, food delivery and etc compete with Grab, Gojek, Foodpanda, Trip, Traveloka, Booking, Agoda, Expedia to name a few.

Of the top 10, how many are LCC?
The LCC landscape already change so much from when Stony start up AA with RM 1.

Will AA able to compete with the new comers when AA carried huge debts from the covid-19?

DeepSeek already show the world you do not need those multibillion CPU that guzzle huge power and water to train your AI.

All those power and water that needed to run the DC is a waste of resource that should be put into other more productive/better used for food and industries.

Will Tenaga suffered the same fate of double digits selldown as US power suppliers?

The only question now is who will be the AAX RM 1 billion PP investor/investors? And at what AAX price, terms and conditions will investor/investors ready to take up the PP?

I still remember how expansive was air travel before AA come into picture. But AA need to make profit or else it will not survive.

My only concern is the AAX acquisation of AAAGL and AAB is not done in haste or under duress and coercion that will landed many people in a very bad place.

According to a statement on AirAsia Group Bhd's website, the mutually agreed extension moves the completion deadline to March 24, from the original date of Jan 25, in order to allow both companies to finalise the deal.

AAX chief executive officer Benyamin Ismail said the extension is a pragmatic step to ensure all aspects of the exercise are thoroughly and meticulously addressed, including securing final approvals and consents from relevant authorities, financiers, and lessors — most of which he noted to have been already "substantially completed".

"During this period, AAX will also finalise the definitive terms with identified investors for the proposed private placement, aimed at raising gross proceeds of RM1 billion," AAX said.

Perhaps someone can convinced SIA to take up AAX RM 1 billion PP

AAX raising RM1,000,000,000 pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Repost:
Look like Stony : Capital A to exit PN17 status by 1Q2025, says CEO
By Bernama / Bernama
23 Dec 2024, 06:19 pm
will be delay again.

On behalf of the Board, RHB Investment Bank Berhad wishes to announce that the Company and AAX have mutually agreed to further extend the AAAGL Cut-Off Date and AAB Cut-Off Date under the AAAGL SSPA and AAB SSPA, respectively, from 25 January 2025 until 24 March 2025 or such other date as mutually agreed between the Company and AAX in writing, for the Company and AAX to satisfy the AAAGL Conditions Precedent (save for the AAAGL Condition Precedent relating to due diligence on the AAAGL Target Entities, which has been satisfied) and AAB Conditions Precedent (save for the AAB Condition Precedent relating to due diligence on the AAB Target Entities, which has been satisfied), respectively. This is to allow additional time for the Company and AAX to, amongst others, obtain the approval and/or consent of the relevant authorities, financiers/lenders and/or third parties as well as the sanction of the High Court of Malaya for the capital reduction pursuant to the Proposed Distribution, and for AAX to finalise the definitive terms with the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise.

In addition, the Company and AAX have mutually agreed to amend and vary the following salient terms of the SSPAs as detailed in the Circular:

Section in the Circular Salient terms of the SSPAs
Section 3.1(x) of Appendix IV and Section 3.1(ix) of Appendix V
AAX raising RM1,000,000,000 within AAX’s financial year ending 31 December 2024, pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Salient terms of the SSPAs as amended and varied
AAX raising RM1,000,000,000 pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Save for the amendments and variations as set out in this announcement, all other terms and conditions of the SSPAs shall remain in full force and effect.

This announcement is dated 24 January 2025.

Look like Stony : Capital A to exit PN17 status by 1Q2025, says CEO
By Bernama / Bernama
23 Dec 2024, 06:19 pm
will be delay again.

On behalf of the Board, RHB Investment Bank Berhad wishes to announce that the Company and AAX have mutually agreed to further extend the AAAGL Cut-Off Date and AAB Cut-Off Date under the AAAGL SSPA and AAB SSPA, respectively, from 25 January 2025 until 24 March 2025 or such other date as mutually agreed between the Company and AAX in writing, for the Company and AAX to satisfy the AAAGL Conditions Precedent (save for the AAAGL Condition Precedent relating to due diligence on the AAAGL Target Entities, which has been satisfied) and AAB Conditions Precedent (save for the AAB Condition Precedent relating to due diligence on the AAB Target Entities, which has been satisfied), respectively. This is to allow additional time for the Company and AAX to, amongst others, obtain the approval and/or consent of the relevant authorities, financiers/lenders and/or third parties as well as the sanction of the High Court of Malaya for the capital reduction pursuant to the Proposed Distribution, and for AAX to finalise the definitive terms with the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise.

In addition, the Company and AAX have mutually agreed to amend and vary the following salient terms of the SSPAs as detailed in the Circular:

Section in the Circular Salient terms of the SSPAs
Section 3.1(x) of Appendix IV and Section 3.1(ix) of Appendix V
AAX raising RM1,000,000,000 within AAX’s financial year ending 31 December 2024, pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Salient terms of the SSPAs as amended and varied
AAX raising RM1,000,000,000 pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Save for the amendments and variations as set out in this announcement, all other terms and conditions of the SSPAs shall remain in full force and effect.

This announcement is dated 24 January 2025.

Buy of course many says Trump has attention span of a 7 year old child.

It is still better than Biden who can talk to a ghost🥶

https://theedgemalaysia.com/node/727957
Capital A can exit PN17 before branding biz carve-out, says Fernandes
The proposed RM6.68 billion disposal of AirAsia Bhd and AirAsia Aviation Group Ltd to AAX will lead to a pro forma gain of over RM18 billion when the transfer of accumulated losses in the aviation business is included, according to Capital A

The only problems is AAX need to raise 1 billion thro' PP to prevent itself from falling into PN17 post acquisition.

CapA cannot exit PN17 unless CapA unload the debts laden aviation business to AAX

No point reponse to king of spin mistake because he never admit his mistake, incapable of learning and keep spinning without any shame.

Best leave him alone to kaki kong kaki song

Ada satu tikus besar terperangkap tingkat 24-32 jaks. Sekarang mengamuk tiap hari

As at 31/12/2023
FP MNH Total
RM RM RM
Total equity/Net book (53,367,990) (71,034,553) (124,402,543)
Non-current liabilities 64,635,068 196,443,411 261,078,479
The balance loans due in more than 12 months time are accounted in Non-current liabilities

Current liabilities 221,684,498 204,961,046 426,645,544 are loans due within 12 months time and payables to suppliers, vendors and contractors who supply and build Envolve Mall and Pacific Tower.

These amount most likely roll over for some year already and now bankers, suppliers, vendors and contractors want their due to be paid.

As at 31 Dec 2023
FP current assets RM 910,656 and current liabilities RM 221,684,498
MNH current assets RM 5,764,090 and current liabilities RM 204,961,046

Is RM 250 million MNH MTN able to take care of MNH (Evolve mall) and FP (Pacific Tower) total current liabilities of RM 426,645,544?

Summarised statements of financial position as at 31 December 2023:
FP MNH Total
RM RM RM
Non-current assets 232,040,920 324,605,814 556,646,734
Current assets 910,656 5,764,090 6,674,746
Total assets 232,951,576 330,369,904 563,321,480
Current liabilities 221,684,498 204,961,046 426,645,544
Non-current liabilities 64,635,068 196,443,411 261,078,479
Total liabilities 286,319,566 401,404,457 687,724,023
Total equity (53,367,990) (71,034,553) (124,402,543)
Attributable to:
Non-controlling interest (26,150,315) (34,806,931) (60,957,246)
Other individually immaterial
non-controlling interest (556,599)
Total non-controlling interest (61,513,845)

If jaks fail to raise cash from MNH RM 250 million MTN for repayment of bank borrowing then what will happen to Jaks?

By the way any investors interest in taking up jaks MNH RM 250 million MTN ?
And what will be MNH MTN interest/coupon rate?

Summarised statements of profit or loss and other comprehensive income for the
financial year ended 31 December 2023:
FP MNH Total
RM RM RM
Revenue 4,167,025 6,096,978 10,264,003
Expenses including taxation (10,817,016) (6,740,356) (17,557,372)
Net loss for the financial year, representing total comprehensive loss for the financial year (6,649,991) (643,378) (7,293,369)
Attributable to:
Non-controlling interest (3,258,495) (315,255) (3,573,750)
Other individually immaterial
non-controlling interest (1,372,966)
Total non-controlling interest (4,946,716)

Maybe it will be RM 1.00 after debts restructure, capital reduction, 20 to 1 share consolidation and new capital injection PP of RM 1 billion.

As capitalA shareholder you should hold Stony accountable, responsible and answerable if capA did not exit PN17 status by 1Q2025.

Capital A to exit PN17 status by 1Q2025, says CEO
By Bernama / Bernama
23 Dec 2024, 06:19 pm

SEPANG (Dec 23): Capital A Bhd is expected to exit Practice Note 17 (PN17) status by the first quarter of next year after submitting its proposed regularisation plan to Bursa Malaysia Securities Bhd on Monday.

Chief executive officer Tan Sri Tony Fernandes said the group submitted the plan, which among others, includes a RM6 billion capital reduction, but would not affect flight frequency or reduce employee benefits.

“The regularisation plan is designed to strengthen our balance sheet by eliminating losses incurred during the Covid-19 pandemic and reflect the true value of our underlying assets in Capital A.

“I’m hoping that by February or March (next year), we will have AirAsia Group as a new company and Capital A out of PN17. It is huge for me, really huge.

If I had a large quantum computer right now, I could essentially take over all the Bitcoin," he added. "By tomorrow, I could be reading everybody’s email and getting into everybody’s computer accounts, and that’s just the fact."

But exactly how imminent this threat is remains highly debatable. In an update last week, AllianceBernstein analysts argued that Bitcoin contributors should "start preparing for the quantum future."

However, "any practical threat to Bitcoin seems decades away," the analysts wrote

For once I know of Insas CEO Dato' Wong cracking his head how to invest Insas' cash hoard of more than RM 1 billion into financial instruments that can give save yearly return of over 10%.

Without SBB support it will be up to Mr. Market to determine what should be the price of Yinson share.

I will be waiting to collect cheap cheap.

By the way the dividend rate of 12.95% to 13.50% for USD 1 billion RCPS is more than FSPO atlanta yearly income of USD 113.33 million

Revenue/income for the new FPSO
FPSO Agogo USD million 4600/15 = 306.67 (2026 onward)
FPSO Atlanta USD million 1700/15 = 113.33
FPSO Maria Quitéria USD million 5300/22.5= 235.56

The RCPS is unnecessary since Yinson’s FPSOs have been funded, including the latest one, FPSO Agogo unless Yinson intend to bid for another new FPSO.

Will be interest to see what will be capA directors remuneration for FY 2024

Directors' remuneration
2023 2022
RM’000 RM’000
Executive Directors
- salaries, bonus,allowances and otheremployee benefits 28,303 14,679
- defined contribution plan 3,396 1,761
31,699 16,440
Non-Executive Directors
- fees 4,621 1,819
36,320 18,259

The remuneration payable to the Directors of the Company is analysed as follows:
2023 2022
Range of remuneration (RM)
301,000 to 350,000 - 1
350,001 to 400,000 1 -
450,001 to 500,000 3 2
500,001 to 550,000 - 1
8,200,001 to 8,250,000 - 2
14,050,001 to 14,100,000 1 -
14,200,001 to 14,250,000 1 -

Some AirAsia employees have reported that the company does not offer regular bonuses. However, AirAsia's remuneration policy states that the company may share profits with employees in line with their performance.

Explanation
AirAsia's remuneration policy states that the company may share profits with employees in line with their performance.
However, some employees have reported that AirAsia does not offer regular bonuses.
One Glassdoor user reported that AirAsia does not offer performance-based bonuses or annual bonuses.
Another Glassdoor user reported that AirAsia does not offer bonuses or profit sharing.

Just wonder did Stony rewards all his hardworking employees with their well deserved bonus and salarly increment?

Repost:

For me I also don't like company wasting cash for SBB and then raise cash with borrowing/Bond/RPS with very high interest rate.

Yinson should stop all these wasteful utilisation of capital and raise cash in foreign market with high interest rate.

Yinson should raise cash in Malaysia either from shareholders or Malaysia capital market that will benefit Malaysia and shareholders.

I for one will q overnight and bought their bond issued with such a high interest rate.

Basis and justification for the Issue Price, conversion ratio of the RCPS and dividend rate
The Issue Price is determined after taking into account the Subscription Price for a total of 1,500,000 RCPS.

The Board is of the view that the Issue Price and the RCPS Conversion Ratio (as detailed in Section 2.2 of this Announcement) are justifiable as they are determined based on the Subscription Price which in turn is based on the valuation of the YPOPL Group as detailed in Section 2.2 of this Announcement.

Furthermore, the Board is also of the view that the preferred annual dividen rate of 12.95% to 13.50% payable to the Investors is justifiable, after taking into consideration YHB’s FPSO mezzanine financings which were secured in 2023 with interest ranging from 12.5% to 13.5% per annum.

By the way the interests and depreciation on non-operating aircraft is still lease payment needed to be paid to lessors.


In the first nine months of 2024, Capital A Bhd’s (KL:CAPITALA) aviation business, which includes AirAsia in Malaysia, Indonesia, the Philippines and Thailand, posted segment loss of RM42.08 million before including forex gains, taxes, as well interests and depreciation on non-operating aircraft, compared with RM215.87 million loss a year ago.

Bigpay will be a big letdown on the valuations of capA non aviation biz.

Repost:
9 months end 30/9/2024
ADE
RM million
Revenue:526
EBITDA: 109
PAT: 47

Capital A Aviation Services (“CAPAS”)
RM million
Revenue:269
EBITDA: 31
PAT: 15

Ground Team Red (“GTR”)
RM million
Revenue:223
EBITDA: 47
PAT: 17

Teleport
RM million
Revenue:736
EBITDA: 60
PAT: -20

MOVE
RM million
Revenue:387
EBITDA: 49
PAT: 20


Bigpay
RM million
Revenue:29
EBITDA: -59
PAT: -110

CAPI
RM million
Revenue:171
EBITDA: 74
PAT: 83

CHUA SONG YUN On 19 April 2024, Yinson secured a USD 500 million (RM 2.36 billion) five-year senior secured bond at a fixed coupon rate of 9.625% per annum in the Nordic bond market, despite having a high credit rating of A1.
a)Why did Yinson opt to raise debt in the Nordic bond market at such a high coupon rate of 9.625%?
b)What is the average financing cost for FPSOs globally?
c)Does this indicate that Yinson faces challenges in raising debt, and that the bond market perceives Yinson as high-risk?

Reply: Question and (a) and (c) have been addressed in the set of pre-AGM questions.

We will address question (b). U.S. dollar bond cannot be compared to ringgit dollar bond because a ringgit base rate is much lower than the US dollar base rate. However, the question is “does this indicate any challenges for us”? Fortunately, despite the challenges, Yinson is one of the few companies globally that has successfully secured financing for its FPSOs. This is evident as all Yinson’s FPSOs have been funded, including the lates one, FPSO Agogo

CHUA SONG YUN On 30 April 2024, Yinson secured a USD 1.3 billion (RM 6.1 billion) multi-tranche financing term loan with interest margins ranging from 3% to 5% plus SOFR. a)What is the current SOFR rate, and what is the effective interest rate of this term loan? b)Considering the high financing costs of nearly 10% for FPSOs, how does management ensure that these projects remain profitable?

Reply: The current SOFR rate is 5.3% plus 3%-5%, with the spread at about 8-10% for long-term financing. Now is the prime opportunity for Yinson to inform its clients that interest rates are high. Hence, hypothetically, when Yinson signs on a contract of 10 or 15 to 25 years, Yinson is able to price these high interest rates into projects which the client would have to pay for. If Yinson were to have a 25-year contract with a 10% to 11% interest rate on that project, clients would be willing to pay for that within the next 5 to 10 years. If the interest rates were to drop, Yinson would be able to refinance that loan with a cheaper instrument, which leaves a whole profit that would come to Yinson. Yinson should be winning more projects in a high interest rate environment as compared to winning projects in a low interest rate environment, which would leave Yinson at a disadvantage in refinancing projects. For FPSO Anna Nery, Yinson was able to refinance and take back equity with a small sell down to K-Line

Poker man Stanley is a day dreamer or a deal maker trying to get AA a licence to set up JV LCC AA China.

Just wonder why Stony sold AA India to local JV partner but bought over AA Philippine which is lose making and debts laden from JV partner?

Me also buy low and trying to sell high for my free bintang beer and lobster.

Will monitor the next few quarters result to see whether the EBITDA is per the projection before putting more money into Yinson.