Posted by apple4ver > 19 hours ago | Report Abuse

One of the investment thesis in Yinson is that it is one of the beneficiary of global interest rate decline. With the major capex behind and consistent cash flow moving forward, it should be able to refinance its outstanding loans at a much lower rate. However, Yinson has basically locked-in the rate with RCPS paying 12.95%-14.95%. It would be imprudent for Yinson to justify the rate by comparing it with FPSO mezzanie financing in 2023 during which the rate peaked. Also, Yinson is now re-exposed to risks related to securing new FPSO projects and construction executions. An investor should fervently hope Yinson would not take-on too risky projects in search of higher IRR.

Some back of the paper calculation

Total amount allocated for new FPSO = $784.5m
At 30%/70% equity/debt ratio, new project value = $2,600m ($1.3b per project)
(Number of FPSO limited to 2 due to redemption clause)

Total undiscounted cash flow pa* (assume $180m per $1b cost) = $468m
Operating cash flow, assuming operating margin of 50% = $234m
(Ignore any additional income from $80m new energy projects)

Dividend paid on US$1b RCPS = $139.5m
Additional interest on project loans ($1.8b @9%) = $162m
Total dividend + interest expenses = $301.5m

Net operating cash flow less dividend+interest expenses = -$67.5m

There are plenty of assumption used, so expect a high range of possible outcome. But even then it is clear the project margin is very very tight. All above exclude potential depreciation expenses of $173m (15 years, straight line method). And it is super expensive to spend 14.95% RCPS on new energy project ($80m) or buyback/dividend ($30)or even working capital ($70m).

At RM21.4b in total loans (inclusive perpetual securities), it is RM214m additional income per 1% reduction in interest rate. Paying down another RM1-2b in debt (7% average interest rate) per year will give additional RM100m in profit. That's the benefit of simply doing nothing.

Posted by Philip ( buy what you understand) > 18 hours ago | Report Abuse

Apple4ever have you read the salient details of the 1.5b rcps offer?

Funds are accepting cash and also in kind,in preparation for IPO.
The Option A Cash Distribution Rate shall mean:

(i) prior to Target Exit Date, at a rate equal to 12.95% per annum;

(ii) on or after the Target Exit Date up to the date immediately prior to the
seventh anniversary of the First Tranche Closing date, a rate equal to
13.95% per annum;
(iii) on or after the date falling on the seventh anniversary of the First Tranche
Closing date, at a rate equal to 14.95% per annum;
in each case subject to this provision herein provided and provided that for such
time as YPOHL is subject to any applicable default event pursuant to the terms of
any written agreement between YPOHL and its shareholders, and the RCPS
holders which remains unremedied, the Option A Cash Distribution Rate shall
increase by 2.0% per annum with effect from the date on which such event
occurred until such time as the default event is remedied to the reasonable
satisfaction of the RCPS holders.
The Option B Cash Distribution Rate shall mean:
(i) prior to Target Exit Date, at a rate equal to 7.25% per annum;
(ii) on or after the Target Exit Date up to the date immediately prior to the
seventh anniversary of the First Tranche Closing date, at a rate equal to
8.25% per annum;
(iii) on or after the seventh anniversary of the First Tranche Closing date, at a
rate equal to 9.25% per annum;
in each case this provision herein provided and provided that for such time as
YPOHL is subject to any applicable default event pursuant to the terms of any
written agreement between YPOHL and its shareholders which remains
unremedied, the Option B Cash Distribution Rate shall increase by 2.0% per
annum with effect from the date on which such event occurred until such time as
the default event is remedied to the reasonable satisfaction of the RCPS holders.

Posted by Philip ( buy what you understand) > 18 hours ago | Report Abuse

So in essence they are getting a loan of 1.5 billion with warrants at valuation of 15 billion conversion and 7.25% coupon. Flexibility indeed.

Posted by Holdom2040 > 18 hours ago | Report Abuse

Sorry Philip, can further explain what means by 15billion conversion? I dont understand.

Posted by jjohnchew > 17 hours ago | Report Abuse

Hoho many uncertainties variables:

1.) IPO is expected within 3 to 5 years ..

2.) Warrants qty n ex price n maturity date ?

3.) FPSO Agogo is scheduled First Oil end 2025 / Early 2026 .

4.) FPSO Agogo debt financing is USD 1.3 billion… the Highest among Anna Nery n Maria but Charter Rate comparatively is Lower ..

—-

Posted by Philip ( buy what you understand) > 53 minutes ago | Report Abuse

So in essence they are getting a loan of 1.5 billion with warrants at valuation of 15 billion conversion and 7.25% coupon. Flexibility indeed.

Posted by jjohnchew > 17 hours ago | Report Abuse

Hoho seems shl not be Lower than FY24 Average interest rate % …

Posted by apple4ver > 16 hours ago | Report Abuse

You're right. The correct cash rate used should be 12.95% for first five years. But, does it change the picture significantly? Option B provides lower cash rate but the balance is in PIK of 5.7%. PIK is accrued and added to the principal but eventually it has to be paid either in cash or converted to share which will dilute existing shareholders' holdings. The cash flow profile will be much better in the first 5 years but at the end of 5th year, the principal of $1,0000 per RCPS will increase to $1319 and cash payment of $95.65 (vs $72.50 in 1st year). Not unlike credit card bill, the problem is the high overall Cash + PIK rate. It shouldn't be a problem if the ROI of RCPS investment is much higher. The simple calculation above indicates otherwise. President Trump just declares energy emergency with a declared goal to increase energy production substantially. With likely lower oil price in coming years, will the charter rate increase substantially? A conservative investor will obviously prefer the "do nothing" option and reaps the benefit of additional RM300m and increasingly in interest saving from 2026 onwards.

Posted by apple4ver > 16 hours ago | Report Abuse

And there is an additional risk of IPO failure by the first target date, after which overall rate increases 1% yearly for 2 years until it reaches 14.95%.

Posted by jjohnchew > 15 hours ago | Report Abuse

WTI CRUDE
76.13 -2.25%

Stock: [YINSON]: YINSON HOLDINGS BHD
7 hours ago | Report Abuse
WTI CRUDE 58 mins
77.36 -0.67%

Posted by Philip ( buy what you understand) > 6 hours ago | Report Abuse

Sorry, what I mean is yinson production pre IPO valuation is 3.7 billion usd, meaning for you to check conversion from warrants and rcps to yinson production shares what is the minimum price. Fyi the price to convert preferred shares and warrants will be double what yinson is currently valued in bursa. I for one is very happy that yinson is not going to yinson shareholders for money and further dilution

>>>>>>
Holdom2040

Sorry Philip, can further explain what means by 15billion conversion? I dont understand.

Posted by Philip ( buy what you understand) > 6 hours ago | Report Abuse

Appl4ever you forgot that the money is not used frivolously but to grab more fpso projects. Fyi if your 1.5b usd can get you cash payment to find 2-3 500 million fpso that gives 600k per day charter rates in 4 years which net 2 billion each over 15 years, what is the irr rate? Most likely yinson has already finalized a few more new projects and looking to cheat financial requirements first.

In my opinion getting cash now for future projects while not affecting the existing fpso payments and generating more debt I think it's ok.

Paying with shares instead of cash is very favorable only if you are using it to increase revenue instead of using it frivolously

Posted by Philip ( buy what you understand) > 6 hours ago | Report Abuse

This in essence is the reason why yinson is trading at a huge discount to value. If there was no risk, this conversation is moot and no reason to hold yinson. For me I look at what yinson has done under young gun lim chern Yuen. When I bought yinson in 2013, it was a company that just started is first fpso with ptsc and run under his 30+ year old son. However in that space of
Time he was able to create huge shareholders value over the period for all involved. You can either look at the good and bad of this highly risky investment. But first look at the 2024 annual report and compare what they say and how management sharing during AGM and technical reporting compared to many other companies in bursa and you can see their transparency and how their management team is international instead of bumi or Chinese dominated. Yinson actually hires the top teams from Norway, Singapore and china and they are winning projects globally instead of just in Malaysia or Saudi. In the end you only need to worry about these few things for yinson.

1. Will they go bankrupt ? ( They have usd1.5 billion investment from funds who have been with them for a while now, and they have done more due diligence than me with only 13m risked in yinson( which is higher with my recent purchases at 2.38).

Are yinson bids profitable? ( Their rates and tender wins versus peers show they are performing better than many bigger competitors. They charge higher, complete first oil faster, irr is 18-19%, rates 600k and above with covered counterparty risk, which is on par or better than fpso majors)

Is yinson able to service debt, ( according to chai jia jun, the back of the hand calculation is simple. Their tender bids are simply fpso cost me 1.2 billion, my 15 year period nets me 5.8 billion agogo, so in 4 years pay off ship cost, 11 years is pure cash flow.

Posted by Philip ( buy what you understand) > 5 hours ago | Report Abuse

Is yinson greedy? Yes and no. Firstly they are completing agogo end of this year. So once handover they will have a team that was able to bring 4 medium size fpso to completion on time without hiccups in 4 years during COVID-19 frenzy. What happens now appl4ever with those staff if you say sit and do nothing? Firstly they are global and excellent team that will have over agogo this year, delivered Atlanta 4 months ahead of schedule ( delayed on authorities not production team), delivered maria 4 months ahead of schedule, delivered John to Ghana on time, and it seems agogo will be mid 2025 instead of early 2026.
Are you telling yinson to fire all this people or tell them to take a sabbatical?

No. You have a great team. Use them. Get one or 2 orders that will last until 2028-29, which will coincide with listing in usa under oil and esg solar supported trump. With yinson the only company doing fpso with huge solar farm and carbon capture technology it is very very sexy in terms of investment with USA funds.

In my opinion yinson has done well to not dilute shareholders, get funding from outside capital at good rates ( fyi bank funding for o&g heavy called has dried up long time ago due to high risk which is why agogo can get rates at 750k a day rate)

Posted by Philip ( buy what you understand) > 5 hours ago | Report Abuse

I'm sure in this thread I'm one of the few that bet big in 2013 when yinson first moved from being transport company with low prospects to being a fpso and osv supplier. Yes they did it during the height of oil frenzy, but their execution and growth through they years was exemplary and made me stay on even until today in 2025 when they will finally hand over agogo.

Perviously johnchew talking about first oil for Atlanta. Now handover nothing to say. Now he is saying margin call etc hidden risk. Cheap low class comments on an international company with execution. For me just one simple question to ask:

Has yinson not performed in their production, collection of payments, selection of clients. They are even getting investment from Saudi.

Have they not paid or delayed their debt payments? ( No)

Did they retire debt? (1.3 billion usd last year)

They are guiding towards 1 billion usd cash flow from solar sales, fpso fixed day charter etc. this year should be clear as their payments are fixed and easily verified.

Are they doing anything beyond the ordinary that is a red flag? No.

Are their staff not being paid, suppliers not paid, subcon not paid? ( First signs of trouble if there is, but yinson is consistently one of the best in the industry, novating the contract of th heavy with helang on time and in schedule while others fail)

So in terms of production and execution everything is crystal clear the only problem is with share price which has NOTHING to do with businesses all. Share price does not affect how the business performs but is simply a reaction to business decisions. Since company has funds and ability to buy back shares, pay dividends and has not had a cash call from yinson shareholders since they took the big fpso in 2020, I think I am much easier to just sit and wait and look at how they navigate

Posted by Holdom2040 > 4 hours ago | Report Abuse

Thanks Philip for your explanation. I too bought recently at 2.37

Posted by jjohnchew > 4 hours ago | Report Abuse

Hoho see is a story teller… lo …

Posted by Sally11 > 4 hours ago | Report Abuse

I am thrilled to share that I successfully recovered my $53,000 thanks to @Isabelacyberco in te'le'gr'am she's my support. This experience has been transformative, and she's is highly recommended

Posted by jjohnchew > 4 hours ago | Report Abuse

下跌股:云升控股 RM2.27支撑
2025年01月22日

云升控股（YINSON，7293，主板能源股）日闭市时报收2.39令吉，按日下跌4.0仙或1.65%。
它的股价这跌穿了之前的支撑位置后，继续出现卖压，仍然处于下跌的趋势。它的日线相对强度指数(RSI)的指标处27.67的水平。

它的支撑位置处于2.27-2.30令吉的水平间，而阻力水平处于2.44-2.48令吉的水平间。

21/01/25行情
闭市：2.39令吉

Posted by Sally11 > 4 hours ago | Report Abuse

Saya sangat teruja untuk berkongsi bahawa saya berjaya mendapatkan semula $53,000 terima kasih kepada @Isabelacyberco dalam te'le'gr'am dia adalah sokongan saya. Pengalaman ini telah berubah, dan dia sangat disyorkan

Posted by Sslee > 4 hours ago | Report Abuse

No worries I will hold the BOD accountable, responsible and answerable for what is minuted in 2024 AGM:
EBITDA is expected to reach about USD 1 billion annually from 2026.

Free cash flow after repaying debt and interest to reach USD 200 – USD 300 million annually from 2026 onwards, based on today’s interest rates

Repost:
FPSO operation:
YTD Q1 FYE 2024(RM’ mil)
YTD Q1FYE 2025 (RM’ mil)
Variance (RM’ mil)
Revenue 365 651 286
Gross Profit 213 433 220
EBITDA 250 468 218
Core PATAMI 104 177 73
 Increase in revenue was due to fresh contribution from FPSO Anna Nery’s
operation since first oil was achieved on 7 May 2023.

Gross profit 433/651 = 66.51%
EBITDA 468/651= 71.89%
PATAMI 177/651 = 27.19%

Addition revenue after year 2026
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
Addition USD 655.56 million per year
Per quarter USD163.89 million
USD/MYR 4.5 equalvant RM 737.505 million

Total per quarter revenue RM 651+738= RM 1,389 million
EBITDA 71.89% = RM 998.55 million
Gross profit 66.51% = RM 923.83 million
PATAMI 27.19% = RM 377.67

Above only for FPSO operation.
BOD already replied at AGM
EBITDA is expected to reach about USD 1 billion annually from 2026.

Free cash flow after repaying debt and interest to reach USD 200 – USD 300 million annually from 2026 onwards, based on today’s interest rates

Posted by Sally11 > 4 hours ago | Report Abuse

I am thrilled to share that I successfully recovered my $53,000 thanks to @Isabelacyberco in te'le'gr'am she's my support. This experience has been transformative, and she's is highly recommended

Posted by Sslee > 4 hours ago | Report Abuse

So today will q buy 2.30 all the way down to 2.27. Wish me luck

Posted by Sally12 > 4 hours ago |

Post removed.Why?

Posted by Sally12 > 4 hours ago |

Post removed.Why?

Posted by jjohnchew > 4 hours ago | Report Abuse

WTI CRUDE 58 mins
77.36 -0.67%


WTI CRUDE
76.13 -2.25%


WTI CRUDE
75.89 -2.56%

Posted by MrFox > 3 hours ago | Report Abuse

jjohnchew@@
what is your paper loss in jaks? ...hohoho

Posted by Sslee > 3 hours ago | Report Abuse

Repost from jaks forum
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.

Posted by Sslee > 3 hours ago | Report Abuse

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

Posted by Philip ( buy what you understand) > 2 hours ago | Report Abuse

Johnchew do share this in jaks group what is your facts and findings?
Repost:
By the way any investors interest in taking up jaks MNH RM 250 million MTN ?
And what will be MNH MTN interest/coupon rate?

Posted by jjohnchew > 51 minutes ago | Report Abuse

Hoho just like u blowing Xingquin even in Account Fraud ke that is Delisted on September 2019 .. 😱😅


—-

Posted by Sslee > 3 minutes ago | Report Abuse

No worries I will hold the BOD accountable, responsible and answerable for what is minuted in 2024 AGM:

Posted by jjohnchew > 50 minutes ago | Report Abuse

Hoho sounds like in Jtiasa also le … double top 1.53 le …..😅


Posted by Sslee > 5 minutes ago | Report Abuse

So today will q buy 2.30 all the way down to 2.27. Wish me luck

Posted by jjohnchew > 50 minutes ago | Report Abuse

Nonetheless, the profile of Yinson’s loans is worth highlighting. Of the RM16.3 billion in borrowings, RM9.83 billion have a maturity of between two and five years. Those with over five years’ maturity amount to RM3.84 billion.

On the other hand, the bulk of its finance lease receivables, under total undiscounted lease payments, will only be received after more than five years and amount up to RM17.79 billion


Some observers have pointed out that the mismatch between its borrowings, the bulk of which will mature in between two and five years, and its receivables, which will be later than five years, may represent substantial refinancing risks for the group.

About RM13.7 billion of its term loans are denominated in US dollars. Some of these bear interest ranging from 3.89% to 10.17% a year on variable rates and as high as 13.88% for its fixed rate loans. The rest are denominated in ringgit and Indian rupees.
Notably, 80% of the total borrowings are variable rate borrowings while 20% are fixed rate borrowings.

While Yinson has a proven track record of being able to manage its debt levels, critics believe there could be significant risk ahead in light of the global environment should interest rates begin to rise.

Posted by jjohnchew > 49 minutes ago | Report Abuse

Hoho Kon ss leee Next FY shl follow IFRS le … no more Operating Lease wow but Finance Lease wow …. What Shl be the Cash Flow from Operating activities le … Very Bad ke …😅

Posted by jjohnchew > 48 minutes ago | Report Abuse

Hoho see a story teller…if the Renewables projects are NOT 100 % financing shl tied up investment capital for many many years ( like JAKS LSS4 50 MW in Penang .. but is 100 % financing for 18 years ) … as the ROI is very very slow … unless Yinson is Cash Rich ….Renewables generate Revenue n Profit is still better than bank interest rate !

Yinson renewables

QR October 2024 :

Segment information:

For the Nine months period ended 31 October 2024 :

Gross Revenue : RM 127 million
Elimination. : RM 14 million
Net Revenue. : RM 113 million

Segment Results: RM 19 million

—-

They are guiding towards 1 billion usd cash flow from solar sales, fpso fixed day charter etc. this year should be clear as their payments are fixed and easily verified.

Posted by jjohnchew > 47 minutes ago | Report Abuse

Hoho as posted earlier.. JAKS Solar n Yinson India Solar .. for 6 months period both are ard 13 % profit … but JAKS reduced to 9 % profit in 9 months period…

Coming Yinson QR .. KonLee can do the calculation lo .. but not by Kon maths lo ….

Posted by jjohnchew > 46 minutes ago | Report Abuse

Hoho Repost :

Jaks vs Yinson FA


👉JAKS :

Price : 0.130
NTA : 0.60
P/B : 0.22

Current Ratio 1.04
Debt-Equity (DE) Ratio 0.64
FCF Yield 0.81 %
Revenue QoQ 7.74 %
Revenue YoY 41.26%
Profit QoQ 167.57 %
Profit YoY 215.31 %
Profit Margin (Sector Median: 3.8) 35.93 %



👉YINSON:

Price : 2.53
NTA : 1.77
P/B : 1.43

Current Ratio 0.64
Debt-Equity (DE) Ratio 2.27
FCF Yield -10.92 %
Revenue QoQ -13.49 %
Revenue YoY -34.13%
Profit QoQ -1.48 %
Profit YoY -19.35 %
Profit Margin (Sector Median: 5.9) 9.92 %

Posted by jjohnchew > 45 minutes ago | Report Abuse

JAKS :

> Referred to Annual Report FYE2023 :

1.) Evolve Mall :
Occupancy Rate increased to 75 % from 59 % FY2022 .

Evolve Mall : loan balance RM 206.4 million… net book value as at December 2023 is RM 280 million.


2.) Pacific Towers Business Hub : Occupancy Rate increased to 54 % from 35% FY2022 .


Pacific Towers : loan balance RM 70.6 million… net book value for Business Hub Tower only as at December 2023 is RM 232 million.


Loans n Borrowings as at September 2024 is RM 468.2 million

Illustration: 468.2 - 200 ( syndicated loans on LSS4 50 MW Solar is COD on August 2023 ) = RM 268.1 million on Evolve Mall n Pacific Towers balance loans n borrowings.

Posted by jjohnchew > 45 minutes ago | Report Abuse

Hoho not included Pacific Tower A which shall belong to Star as the 6 years legal battle on Pacific Star Towers Project RM 1.1 billion is settled out of court on November 2024 …


Pacific Towers : loan balance RM 70.6 million… net book value for Business Hub Tower only as at December 2023 is RM 232 million.

Posted by jjohnchew > 44 minutes ago | Report Abuse

Hoho this is announced on December 2024 .. oredi posted in JAKS forum that included Pacific Towers …

—-

Posted by Philip ( buy what you understand) > 2 minutes ago | Report Abuse

Johnchew do share this in jaks group what is your facts and findings?
Repost:
By the way any investors interest in taking up jaks MNH RM 250 million MTN ?
And what will be MNH MTN interest/coupon rate?

Posted by Huangbk72 > 42 minutes ago | Report Abuse

LOL.. Anyone with basic lease knowledge will laugh at this Miketikus gibberish statement.

Do you actually know accounting treatment of Operating Vs Financial Lease?

Do you even know why company chooses Financial vs Operating Lease?

Dumdum dont even look at his own Cap A.. 🤣🤣🤣🤣

Posted by jjohnchew > 1 minute ago | Report Abuse

Hoho Kon ss leee Next FY shl follow IFRS le … no more Operating Lease wow but Finance Lease wow …. What Shl be the Cash Flow from Operating activities le … Very Bad ke …😅

Posted by Sslee > 32 minutes ago | Report Abuse

In capA, Stony take out lease payment from operating activities so that he can show to the world capA cash flow from operating activities is how many billions.

You need to look into cash flow financing activities to know the operating cash flow is not even enough to pay lease payment/repayment of lease liabilitie park under financing activities.

Posted by Sslee > 28 minutes ago | Report Abuse

As for jaks, ALP park majority of interest payment under financing activities so that cash flow from operating activities look a bit less negative.

Posted by jjohnchew > 20 minutes ago | Report Abuse

>>> This is so that Yinson’s investors can have a better understanding of how the accounts will look from a finance lease and operating lease perspective.

IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

>>> eg :

Yinson :

QR ended July 2024 :

Segment information : RM million

> For the 6 months period ended July 2024 :

1.) Renewable : Gross Revenue 66 million- Elimination 1 million = 65 million

Results : + 9 million.


2.) Green Technology: Gross Revenue 26 million- Elimination 19 million = 7 million

Results: - 22 million


3.) Other Operations : Gross Revenue 459 million- Elimination 458 million = 1 million

Results: - 47 million


👉4.) FPSO Operations: Gross Revenue 2904 million- Elimination 1521 million = 1303 million

Results: + 810 million

Posted by Huangbk72 > 19 minutes ago | Report Abuse

Aiyah SSLee... explaining so much to Miketikus is useless.

He teaches "ajaran sesat" like that Raja Bomoh aka Raja Bohong

Miketikus feeble mind cannot process after 3.. so he only can count till 3

Keyword " accounting treatment of asset or expense based"

Let the dumdum Miketikus spin this.. 🤣🤣🤣🤣

Posted by Huangbk72 > 17 minutes ago | Report Abuse

If Yinson uses Financial Lease at the start of each purchase while revenue comes in after completion, they are super dum like Miketikus 🤣🤣🤣

Posted by jjohnchew > 14 minutes ago | Report Abuse

Hoho twisting n twisting as usual .. earlier brief forumers on difference of subsidiaries n associates company …

JAKS JV Vietnam Power Plant is 30 % associate company… Revenue is not recognised, only share of profits n dividends… Cash flow is not from Operating activities… but is from finance Investing activities…

—-
Posted by Sslee > 7 minutes ago | Report Abuse

As for jaks, ALP park majority of interest payment under financing activities so that cash flow from operating activities look a bit less negative.

Posted by jjohnchew > 10 minutes ago | Report Abuse

Hoho the statement is from Insider lo .. are they getting dum ke ..kon ss leee yr konPetHuangbk said so le ..🤣

Posted by jjohnchew > 6 minutes ago | Report Abuse

>>> This is so that Yinson’s investors can have a better understanding of how the accounts will look from a finance lease and operating lease perspective.

IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

>>> eg :

Yinson :

QR ended July 2024 :

Segment information : RM million

> For the 6 months period ended July 2024 :

1.) Renewable : Gross Revenue 66 million- Elimination 1 million = 65 million

Results : + 9 million.


2.) Green Technology: Gross Revenue 26 million- Elimination 19 million = 7 million

Results: - 22 million


3.) Other Operations : Gross Revenue 459 million- Elimination 458 million = 1 million

Results: - 47 million


👉4.) FPSO Operations: Gross Revenue 2904 million- Elimination 1521 million = 1303 million

Results: + 810 million

—-

Posted by Huangbk72 > 3 minutes ago | Report Abuse

If Yinson uses Financial Lease at the start of each purchase while revenue comes in after completion, they are super dum like Miketikus 🤣🤣🤣

Posted by jjohnchew > 5 minutes ago | Report Abuse

Hoho and just coincidence le after I am posted The edge article…

马交所要求上市公司 采用IFRS永续披露标准
2024年12月23日



吉隆坡23日讯）配合国家永续发展报告框架（NSRF）的推行，大马交易所修订了上市公司的永续报告框架要求，需采用IFRS永续披露标准。

Posted by jjohnchew > 4 minutes ago | Report Abuse

Posted by jjohnchew > 28 minutes ago | Report Abuse

Hoho Phillippe n Kon ss leee can brief forumers what Shl be the impact if SBB hit 10% .. Shl be soon le as the current SBB is

9.28622 % ..😱😅

Posted by jjohnchew > 1 minute ago | Report Abuse

JAKS

1.) Vietnam Power Plant 1200MW EPCC RM 8.7 billion …Share of Profit n Dividends :


2020 : RM 3.8 million ( 1 Power Plant is COD on Nov 2020 )


👉 2021 : RM 140.7 million ( The 2nd Power Plant is COD on January 2021 , with BOT 25 years contract until 2046 ).


2022 : RM 156.2 million , Dividend RM 70.0 million


2023 : 1QR = RM 28.326 M , 2QR = RM 32.312 M , 3QR = RM 35.862 M , 4QR = RM 34.503 M plus Dividend RM 27.386 M

2023 : RM 131 million , Dividend RM 27.385 million


Total Share of Profit = RM 431.703 Million

Total Dividend = RM 97.386 Million

Total = RM 529.089 Million

> Share of Profit in QR ended March 2024 =
RM 32.384 million

>> Total = RM 561.463 million


> Share of Profit in QR ended June 2024 = Rm 21.33 million

Dividend = RM 14.21 million

👉 Total = RM 597 million.


> > Share of Profit in QR ended September 2024 = Rm 36.29 million


👉Grand Total 🟰 RM 633.3 million 👍

> Jaks 30 % share in Vietnam Power Plant Joint Venture invested ard RM 600 Million.
( RM 400 million is from the Profit of Construction contract of the Vietnam Power Plant, EPC2.)

Initially PayBack 8 to 9 years ..

Referring to the Grand Total , PayBack period is by 2024 .. ie : from 2021 to 2024 ~~ 4 years ..

👉From Vietnam Power Plant 1200 MW EPCC RM 8.7 Billion started on October 2016 ,
Payback period is 8 years.


按照购电协议，电力售价将随原料价格波动。意味着业务盈利贡献获得保证。Jaks管理层曾透露内部回酬IRR介于12%，PAYBACK PERIOD为8至9年


👉👉👉 Jaks Vietnam JV Power Plant 1200 MW , EPCC RM 8.7 billion is COD on January 2021 with recurring Income for 25 years 👍.