@OTB, thanks for your quality inputs.

@OTB, please share 3 keys insights from meeting the management of Yinson. Tq.

Yinson GreenTech, through its electric vehicle (EV) leasing business unit, drivEV, is partnering GoCar, a leading on-demand mobility-as-a-service platform, to offer affordable and accessible car sharing services that includes EVs to the Malaysian market.

Yinson has been included in the prestigious S&P Global Sustainability Yearbook 2024, marking our first recognition by S&P Global as a Yearbook Member. S&P Global also named us as Industry Mover, an accolade that acknowledges that we charted the strongest improvement amongst our peers in the Energy Equipment & Services Industry.

https://www.yinson.com/highlights/Yinson-recognised-by-Sustainalytics-once-more/

https://www.isaham.my/stock/ptrb

@Fabien _the efficient capital allocator, thanks

@Fabien _the efficient capital allocator, kindly share some data why you long on oil...

https://www.yinson.com/highlights/yinson-greentechs-hydroglyder-wins-nbas-most-promising-maritime-technology-award/

“Despite (being) an oil trading and storage bub, Singapore faces inherent disadvantages to compete with Malaysia in terms of operating and labour costs and intense competition from new refining and petrochemical parks in Malaysia and Brunei,” said Mr San Naing, senior oil and gas analyst at research firm BMI.

Yinson is scheduled to release its 2QFY24F results on 29 Sep 2023. We reiterate Add,
with an unchanged SOP-based TP of RM3.57. We expect Yinson’s 2QFY24F PATAMI to
exceed 1QFY24’s RM208m, as Yinson will book in the full BBC rate from the FPSO Anna
Nery which achieved first oil on 7 May 2023; this is the key re-rating catalyst. The standby
rate for the Anna Nery from 3 Jan 2023 up to the day prior to first oil on 6 May 2023 is still
under negotiation with the charterer; hence, Yinson may only be able to book this in
3QFY24F or 4QFY24F. Downside risks include project execution challenges, and higherthan-expected borrowing costs.
Source: CGSCIMB Report.

Average ROE of PChem for the past 10 years is 13%.
Source: klse.i3investor.com

Average ROE of Harta for the past 10 years is 22%.
Source: klse.i3investor.com

Average ROE of SKP R for the past 10 years is 19%.
Source: klse.i3investor.com

Average ROE of Yinson for the past 10 years is 15%.
Source: klse.i3investor.com

https://www.nst.com.my/business/2023/08/944462/yinson-get-rm300mil-loan-rrj-capital-develop-energy-infrastructure-tech

FPSO Anna Nery:
 67% debt funded via a five-year US$670m syndicated loan facility from 2021
 33% funded via Yinson’s rights issue in May 2022
FPSO Maria Quiteria:
 76% debt funded via a six-year US$720m syndicated loan facility from 2022
 On 7 Aug 2023, Yinson signed a US$230m term loan to fund its equity portion
of the capex
FPSO Atlanta:
 80% funded via a 15-year US$379.5m loan from Enauta
 Yinson will fund the remaining capex of US$94.9m via its internal cash
balances
FPSO Agogo:
 US$500m upfront payment from Eni
 Project financing bank debt of c.US$1bn
 Yinson will need to fund the remaining capex of US$300m, most likely via a
new term loan, as reported today by Bloomberg
Source :CGSCIMB Report

https://brazilenergyinsight.com/2023/08/01/brazil-oil-and-natural-gas-production-hits-new-record-in-june/

https://brazilenergyinsight.com/2023/07/26/are-net-zero-aspirations-in-jeopardy-with-oil-gas-boom-at-full-tilt/

https://www.bfm.my/podcast/enterprise/open-for-business/will-teslas-entry-hamper-or-boost-petronas-backed-gentaris-ev-ecosystem-ambitions

https://www.bfm.my/podcast/marketplace/mp/gentari-driving-malaysias-green-mobility-ambitions-

https://www.bfm.my/podcast/marketplace/mp/gentari-putting-clean-energy-into-action-sushil-purohit

Yinson recognised once again as one of Malaysia’s Best Managed Companies by Deloitte

Posted Date: 14 Jul, 2023

Upstream oil and gas have historically had returns of around 15%-to-20%, while most renewables projects have delivered up to 8%.

The International Energy Agency forecasts global upstream oil and gas investments are set to increase by around 11% to $528 billion in 2023, the highest level since 2015.

https://brazilenergyinsight.com/2023/07/03/oil-giants-drill-deep-as-profits-trump-climate-concerns/

https://brazilenergyinsight.com/2023/06/21/the-evolving-fpso-landscape-healthy-demand-changing-procurement/

https://brazilenergyinsight.com/2023/06/21/offshore-oil-spending-to-rise-more-than-20-this-year/#more-56385

Yinson GreenTech and Pos Malaysia deploy chargEV solutions

Posted Date: 22 Jun, 2023

Yinson awarded ‘Most Honoured Company’ for the fifth consecutive year

Posted Date: 21 Jun, 2023

https://brazilenergyinsight.com/2023/06/15/global-oil-gas-investments-on-track-to-reach-528-billion-iea/#more-56252

According to the medium-term market report, global oil demand will rise by 6 per cent between 2022 and 2028 to reach 105.7 million mb/d based on current government policies and market trends. This growth is expected to be supported by robust demand from the petrochemical and aviation sectors.

The IEA’s new report, called Oil 2023, confirms the downward trend in the demand for fossil fuels and dives into the evolving oil supply and demand dynamics through to 2028. The report sees oil use for transport going into decline after 2026, as the expansion of electric vehicles, the growth of biofuels, and improving fuel economy reduce consumption while overall consumption is expected to be supported by strong petrochemicals demand.

yinson.com/30-by-30

https://www.yinson.com/30-by-30

Yinson GreenTech introduces chargEV at Eco Ardence

Yinson Renewables (“YR”) is pleased to provide an update on our activities in New Zealand, where we have been actively exploring renewable energy opportunities since 2019.

Yinson Production receives charter contract extension for FSO PTSC Bien Dong 01

Yinson wins Best Corporate Governance Company at the International Finance Awards 2023
source: yinson.com

###The main reason Yinson is trading at such a premium over peers is the credibility of counter-parties risk in addition to the gigantic order book.
@ UncleFollower,nice points.

Yinson Clinches Two Accolades at the Global Good Governance Awards 2023
source: yinson.com

@BursaVulture, tq.
Source:https://www.upstreamonline.com/production/petrobras-forced-to-delay-first-oil-on-trio-of-production-units/2-1-1439841

FPSO ( First Oil)
Anna Nery(May 2023)
Atlanta( Jun 2024)
Maria Q.( Jun 2025)
Agogo(March 2026)

https://brazilenergyinsight.com/2023/05/08/petrobras-on-the-start-up-of-fpso-anna-nery/

Yinson Production becomes first company to take advantage of Framo’s new Submerged Turbine technology

Yinson GreenTech launches marinEV and signs MOUs with Wilhelmsen Ships Service, OPL Services, Mencast Marine and Zeabuz

https://www.bfm.my/podcast/morning-run/morning-brief/maybank-esg-report-asian-markets-carbon-pricing-greenwashing

The FPSO space is starting to see a supply squeeze – i.e., many global FPSO players are already pre-occupied with jobs developing at hand, and hence, more recent bids have started to see very few bidders, making it very much an operator market.
Source: Kenanga Research

Yinson GreenTech’s chargEV enters Singapore through joint venture with LHN, extending cross-border EV charging network

https://brazilenergyinsight.com/2023/03/25/fpso-sector-poised-for-up-to-50-contract-awards-this-decade/#more-54071