Blog: Yinson Holdings Bhd - FY19 Exceeded Our Expectations

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3 comment(s). Last comment by ( BNF trader losses ) Philip 2019-04-12 14:54

johnny cash

6,400 posts

Posted by johnny cash > 2019-04-09 09:24 | Report Abuse

wow kenanga promoting yinson but not dayang

Junichiro

2,063 posts

Posted by Junichiro > 2019-04-09 09:51 | Report Abuse

Read theEdge Weekly abt Yinson n perpetual securities. If perpetual securities are classified as debt n not equity, Yinson's gearing is 223%.
The same "perpetual securities" brought down Hyflux.

( BNF trader losses ) Philip

4,865 posts

Posted by ( BNF trader losses ) Philip > 2019-04-12 14:54 | Report Abuse

There are perpetual securities, and there are "perpetual securities". yinson perpetuals are protected by fpso charter contracts that are fixed period(minimum 8 years+x) with a penalty clause for early cancellation which is enough to cover the cost of FPSO conversion which can be used to bid for new projects. Hyflux was a debt fuel, and grew too fast without looking at the cost of growth.

But definitely you are right, there is a very small difference between a yinson and a bumi armada and sapura.

I remain confident that this malaysia-norwegian company can be prudent and wise in its investment. I remain confident in the long run.

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