Am not sure when don sahong was proposed, maybe in 2003 or 2004, environmental report for the dam was completed in 2006, construction starts around 2015 and completed in 2019. From proposal to generating power took almost 15 years. So, building a new dam is really out of the question.
they still sell ice cream and bread in mynews, knowing they are losing money... especially the ice cream, why? lose money still continue to do the same thing? then mynews supervalue got mini mynews inside... why?
mynews brand is dead, just accept it. they should slowly close down mynews, focus on CU or rebrand mynews to Maru and come up with something different.
problem with management is they always follow people, never lead. last time say they can be as big as 711 by opening an outlet adjacent to 711 and capture their market share and grow. then familymart came in, shake the whole market, so they try to follow FM by introducing food and ice cream... follow follow but dont know doing what, lose money. now 711 rebrand to 7 Cafe. mynews still stuck with the old format... eventually it will die.
my view is still the same, they should close down mynews and focus on CU. I saw a photo where they open a mynews side by side with a CU, what in the world are they thinking? somemore manager is responsible for the profit and loss of an outlet? if i am the manager, i will resell yesterday's food, say if the corndog is not sold for 3 days, i will continue to sell, who cares about food freshness, as long as I get my promotion and bonus.
for those worried about their high RM9 Billion debt, they need to understand this, once all the 3 FPSOs completed and achieve first oil, their equity will rise too, estimated to be about RM10 to RM11 Billion, as oppose to current RM5 billion. So, pray nothing bad happens and 3 years down the road their equity will be higher than their debt, which I doubt so, because they will keep on seeking new FPSO projects, therefore their gearing will be high, but hopefully it will go down to 1:1 eventually.
Peace99, even with high oil price, Petrobras was fussy with FPSO Maria. The good thing about high oil price is more contracts available, and more likely for oil company to pay for the FPSO, this will greatly benefit yinson as yinson cannot load up on debt anymore and rights issue or PP is already out of the question. FPSO Atlanta was paid by the oil co if I am not mistaken, thus, yinson expect the same for future fpso wins.
the good thing is, whatever the oil price or global economy is, yinson income is pretty much fixed. the down side is you dont expect them to suddenly make huge profit and expect the stock price to fly. not a stock for traders.
simply put it this way, their current profit from their FPSO is about RM77m, when all 3 FPSOs completed and achieved first oil in 2023, 2024, and 2025, yinson profit will most likely 3X, or 2.5X.
Peace99, Yinson can raise their fee by 1% if I am not mistaken, that's all. Get more contracts? They are kind of at max capacity already, out of the 4 FPSO they are bidding, they will only take up 1 job, which is probably the Angola FPSO. The CEO already mentioned this in AGM, they will not build more than 3 FPSOs at the same time, they cannot handle it. FPSO Anna Nery is sailing soon, will achieve first oil in 1Q2023, thus they will accept 1 more project. FPSO Maria Quiteria will be ready around end of 4Q2024 and FPSO Atlanta will be completed by Drydocks World in 3Q2023. Until both FPSO are ready, do not expect any new projects from Yinson.
In the AGM, the CEO said if they take up too many projects, it will post a systemic financial risk to the group and as a small team, they cannot handle this many projects. What they will do is nego with the oil company so that they win the bid but will only start construction of the FPSO when an existing FPSO is completed.
So, to your answer, you wont see many new projects, and the margin is fixed with 1% adjustment to inflation.
bullmarket1628 dont know what he is talking, oil price has nothing to do with yinson. oil price does not effect yinson's profitability. oil at USD1000, yinson profit is more or less the same. goodness, do you know what you are investing in?
I think the gains are in ringgits, as in paper profit, unless they plan to bring all of their money back to Malaysia, which I doubt they want to since some of their debts are in USD, therefore if they bring back and ringgit weakens due to fed raising rates, then it is double whammy.
Flytothemoon is right, share price do tell the real story, i do own yinson and i dont think we should tell people to keep quiet. The worse thing a person can do is to live in their own bubble not knowing what is the truth, like glove supporters in TG telegram group, only listen to one side and dont know what is the truth, those that spoke the truth in the group and immediately kicked out. I3 here got no admin that ban people from saying negative things, so you need to filter out what is good and bad.
Yinson problem is their debt, perpetual debt. If they can reduce their debt, then one day it will fly, i dont understand why they kept on doing share buyback when the money can be used to just clear some of their debt. Well, am not the ceo, since his entire family bought billions of the rights issue, and have skin in the game, they know what is best for the company.
The best time to sell is when they say they got vaccine, the best time to reenter is when they declare the end of pandemic. Just wait… put it this way… even if TG declare good profit next year or next few years, it will just go sideways. So, why enter now?
Once a liar, forever a liar. Never trust a scammer. So many retailers lost their money due to karim. Karma will punish him for his lies… until today he still denies… karim, if you are reading this, repent now or be cursed
I think it is not good to laugh at other people’s misfortune. Yes, they made a mistake, but what if your comments drove them to kill thenselves? You dont want a ghost to haunt you forever, right? Talks about shares, not laugh at the holders on then suiciding…
What rubbish is ularsawa talking? Renew fd at higher rate? As if TG is giving crazy dividends… with their profit dropping, probably no more dividends for the next few years, even if got, will be very little.
Last time glove supporter all say got hidden hands lah, banker push low to collect lah… market is always forward looking and market was right and is right… majority saw this day coming. Some dare say TG will be fortune 500 co soon, got 2b profit lah…. Again, market will be right.
Just like shale gas that went bust in 2014, the industry never recovers and those that survived today are making tons of money. Glove will go thru the same thing, it will not go up until the new players die, then small players also die, and then maybe one big player die… then it will only gradually go up, will probably take 10+ years
I remember how glove supporters say every injection need to change new gloves…. That kind of logic also can come out… got meh? Some medical officer also never wear glove when giving injection… just use hand sanitizer… cheaper
It is just an estimate. Currently, 60% of their profit comes from 1 FPSO, which is most probably FPSO JAK. The total value of all existing 6 FPSOs are about RM3.1B.
FPSO Marlim 2 will be ready in 2022 (2.6B) FPSO Enauta will be ready is 2023 (500m) FPSO PDB will be ready in 2024 (4B)
Total estimated value for the 3 FPSO is about RM7.2B. By 2025, the estimated total value will be approximately RM10B. A 3X from today's value. Naturally, profit will go up by 3X if everything goes according to plan.
Again, dont take what I wrote as investment advice. Do your own due diligence.