YINSON HOLDINGS BHD

KLSE (MYR): YINSON (7293)

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Last Price

2.49

Today's Change

0.00 (0.00%)

Day's Change

2.46 - 2.50

Trading Volume

5,262,700


4 people like this.

3,739 comment(s). Last comment by OTB 11 hours ago

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

*Profitability Ratios*: These ratios measure the ability of a company to generate profits from its operations. Some of the common profitability ratios are:

Gross Margin: This ratio compares the gross profit and the revenue of a company. It indicates the efficiency and profitability of a company’s production process. A higher gross margin means that the company has a higher percentage of revenue left after deducting the cost of goods sold, which implies that it can generate more profits from its sales. A lower gross margin means that the company has a lower percentage of revenue left after deducting the cost of goods sold, which implies that it has less profits from its sales. The gross margin of Yinson as of October 2023 was 28.34%, which means that it had 28.34% of revenue left after deducting the cost of goods sold.

Net Margin: This ratio compares the net income and the revenue of a company. It indicates the profitability and performance of a company. A higher net margin means that the company has a higher percentage of revenue left after deducting all the expenses, taxes, and interest, which implies that it can generate more profits from its sales. A lower net margin means that the company has a lower percentage of revenue left after deducting all the expenses, taxes, and interest, which implies that it has less profits from its sales. The net margin of Yinson as of October 2023 was 7.15%, which means that it had 7.15% of revenue left after deducting all the expenses, taxes, and interest.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

*Solvency Ratios*: These ratios measure the ability of a company to meet its long-term obligations. Some of the common solvency ratios are:

Debt to Equity Ratio: This ratio compares the total debt and the total equity of a company. It indicates the leverage and risk of a company. A higher debt to equity ratio means that the company has more debt than equity, which implies that it relies more on external financing and has a higher financial risk. A lower debt to equity ratio means that the company has more equity than debt, which implies that it relies more on internal financing and has a lower financial risk. The debt to equity ratio of Yinson as of October 2023 was 180.7%, which means that it had 180.7% more debt than equity.

Interest Coverage Ratio: This ratio compares the earnings before interest and taxes (EBIT) and the interest expense of a company. It indicates the ability of a company to pay its interest on debt. A higher interest coverage ratio means that the company has more earnings than interest, which implies that it can pay its interest easily and has a lower default risk. A lower interest coverage ratio means that the company has less earnings than interest, which implies that it may struggle to pay its interest and has a higher default risk. The interest coverage ratio of Yinson as of October 2023 was 2.56, which means that it had 2.56 times more earnings than interest.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

Activity Ratios: These ratios measure the efficiency and productivity of a company’s operations. Some of the common activity ratios are:

Inventory Turnover: This ratio compares the cost of goods sold and the average inventory of a company. It indicates how quickly a company sells its inventory. A higher inventory turnover means that the company sells its inventory faster, which implies that it has a higher demand and a lower inventory holding cost. A lower inventory turnover means that the company sells its inventory slower, which implies that it has a lower demand and a higher inventory holding cost. The inventory turnover of Yinson as of October 2023 was 0, which means that it did not have any inventory.

Asset Turnover: This ratio compares the revenue and the average total assets of a company. It indicates how efficiently a company uses its assets to generate sales. A higher asset turnover means that the company generates more sales per unit of asset, which implies that it has a higher asset utilization and a lower asset investment. A lower asset turnover means that the company generates less sales per unit of asset, which implies that it has a lower asset utilization and a higher asset investment. The asset turnover of Yinson as of October 2023 was 0.37, which means that it generated 0.37 units of sales per unit of asset.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

*Valuation Ratios*: These ratios measure the attractiveness and value of a company’s stock. Some of the common valuation ratios are:

Price to Earnings Ratio: This ratio compares the market price and the earnings per share of a company. It indicates how much investors are willing to pay for each unit of earnings. A higher price to earnings ratio means that the company has a higher market value relative to its earnings, which implies that it is more expensive and has higher growth expectations. A lower price to earnings ratio means that the company has a lower market value relative to its earnings, which implies that it is cheaper and has lower growth expectations. The price to earnings ratio of Yinson as of October 2023 was 10.23, which means that investors were willing to pay 10.23 times more for each unit of earnings.

Price to Book Ratio: This ratio compares the market price and the book value per share of a company. It indicates how much investors are willing to pay for each unit of equity. A higher price to book ratio means that the company has a higher market value relative to its equity, which implies that it has more intangible assets and higher growth potential. A lower price to book ratio means that the company has a lower market value relative to its equity, which implies that it has more tangible assets and lower growth potential. The price to book ratio of Yinson as of October 2023 was 1.89, which means that investors were willing to pay 1.89 times more for each unit of equity.

Cash Balance: This is the amount of cash and cash equivalents that a company has at a given point of time. It indicates the liquidity and solvency of a company. A higher cash balance means that the company has more cash available to meet its obligations and invest in its growth. A lower cash balance means that the company has less cash available to meet its obligations and invest in its growth. The cash balance of Yinson as of October 2023 was RM2.75 billion, which means that it had RM2.75 billion of cash and cash equivalents.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

*Summing up*:

Based on the financial ratios and cash balance of Yinson as of October 2023, it seems that Yinson is a good company to invest in, with some caveats. Here are some of the reasons why Yinson is a good investment:

Yinson has been growing its revenue and earnings at a high rate, especially from its offshore production segment, which accounts for most of its income. This shows that Yinson has a strong market position and competitive advantage in the FPSO industry, which is expected to grow in the future as the demand for offshore oil and gas increases.

Yinson has a high gross margin and net margin, which indicate that it has a high profitability and efficiency in its production process and operations. This also shows that Yinson has a low cost structure and a high value proposition for its customers, which can enhance its customer loyalty and retention.

Yinson has a low price to earnings ratio and price to book ratio, which indicate that it is undervalued and has a high growth potential. This also shows that Yinson has a low market expectation and a high upside potential, which can attract value investors and long-term investors.

Yinson has a high cash balance, which indicates that it has a high liquidity and solvency. This also shows that Yinson has a strong financial position and flexibility, which can enable it to meet its obligations, invest in its growth, and weather any market uncertainties.

However, there are also some caveats and risks that investors should be aware of before investing in Yinson, such as:

Yinson has a high debt to equity ratio and a low interest coverage ratio, which indicate that it has a high leverage and risk. This also shows that Yinson relies heavily on external financing and has a high interest burden, which can affect its cash flow and profitability in the long run.

Yinson has a low current ratio and quick ratio, which indicate that it has a low liquidity and working capital. This also shows that Yinson may face difficulties in meeting its short-term obligations and managing its cash cycle, which can affect its operational efficiency and performance.

Yinson has a low inventory turnover and asset turnover, which indicate that it has a low efficiency and productivity in its operations. This also shows that Yinson may have a low demand and a high inventory holding cost, which can affect its sales and margins.

Yinson faces various external challenges and uncertainties, such as the volatility of oil prices, the competition from other FPSO players, the regulatory and environmental pressures, and the geopolitical and pandemic risks, which can affect its business outlook and performance.

To Our Success !

Captain Mabel Meow

stncws

10,211 posts

Posted by stncws > 2 weeks ago | Report Abuse

新年快乐

stockraider

31,527 posts

Posted by stockraider > 2 weeks ago | Report Abuse

Yinson run the risk of serba, rapid, widad, Ynh which are high risk gambling speculative stocks mah!
The correct strategy is to avoid mah!

JUST SELL & CHANGE TO INSAS MAH!
Investors of Insas hathaway can afford to only invest in 1 stock that is insas loh!

Why should they look elsewhere when all the insas fundamental numbers are so positive compelling base on share price of rm 1,21 leh ?

The Insas figures are as follows;
1. Insas net cash is rm 1.26 per share
2. insas net cash equivalent per share Rm 1.40
3. Insas nta per share is Rm 3.56
4. Insas RNAV per share after taken account of Inari & M&A is Rm 7.00 per share
5. Insas RNAV per share after taken account of its properties value Rm 9.00 per share.
6. Insas eps Rm 0.19 share.
7. Insas cash generation per share Rm 0.22
8. Insas div per share Rm 0.025
9. Insas Nta growth per share (base buffet measurement of growth} Rm 0.22 pa.

a.Notice that insas net cash equivalent of rm 1.40 exceed share price, that means u can buy whole insas & still collect additional Rm 0.19 cash per share on top of whole company.
b. Based on NTA without any revaluation insas is worth Rm 3.56 per share.
c. If u factor in Inari & M&A hidden reserve plus insas NTA , u will get Rm 7.00 per share.
d. If u factor in { item c } plus other assets & revise property undervalue u get Rm 9.00 a share
5. Insas PE is 6.4x.
6. Insas cash generation per share is rm 0.22 giving u a yield of 18% pa.
7. Insas div yield is rm 0.025 per share or 2.1% pa.
8. Insas growth rate pa is 18%. Note this very powerful factor as insas cash generation is 18% pa and growth rate is 18% pa, that means all insas growth is back up by cash generation equivalent, this is a very powerful factor to the sustainability of cash flow and growth rate.

Conclusion: Having gone thru the financial strength of insas, can u find any other stocks more powerful than insas fundamentally at the current share price leh ?
The answer is none loh!

Thus with insas so attractive fundamentally why should u sell insas & look to buy other stocks leh ?
U should be buying more insas right now bcos of very big margin of safety loh!

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

Buy inari directly mah..

You want to tango with your beautiful and sexy girl friend.. Not with her mother..

Trust me..

Meow

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Posted by stockraider > 2 hours ago | Report Abuse
Yinson run the risk of serba, rapid, widad, Ynh which are high risk gambling speculative stocks mah!
--------------------------
stockraider has became a shameless liar now.
How to compare Yinson to serba, rapid, widad, Ynh which are high risk gambling speculative stocks ?
I believe Yinson will make about 1 billion profit (PAT) in FY 2024.
How many stocks listed in KLSE can make 1 billion profit ? Ans : only a handful of stocks.
All 10 analysts from all brokers are recommending a buy on Yinson.
stockraider simply tells lies about Yinson without any fact and figure.
Really shameful to past his uncalled remarks.
Do not badmouth any stock at the expense of many poor investors here. It is a bad karma to badmouth or tell lies about Yinson without true facts and figures.
stockraider will be punished for spreading lies here.

I have both Insas as well as Yinson shares.
I invest in KLSE, I will ensure my stocks selected are very good in fundamentals.
Is Yinson a good fundamental stock ?
Please read all recommendation reports from Maybank, Kenanga, Ambank, RHB and UOB.
I believe Yinson will make about 1 billion profit (PAT) in FY 2024.
All 10 analysts from all brokers are recommending a buy on Yinson.

I am very disappointed with stockraider because he equates Yinson to Serba, Rapid, Widad and Ynh which are not good fundamental stocks.
stockraider spreads lies on Yinson at the expense of all poor investors. It is a very bad karma.
I hope stockraider will be punished for bad mouthing.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

Buy inari directly mah..

You want to tango with your beautiful and sexy girl friend.. Not with her mother..

Trust me..

Meow

stockraider

31,527 posts

Posted by stockraider > 2 weeks ago | Report Abuse

Do u know who the 1st person to shout avoidance of serba, ??
It is raider mah!

Do u know who is the 1st person to shout avoidance of megan media b4 it collapse leh ?
It is General Raider mah!

Do u know who is the 1st person to shout avoidance of Airasia/Capital A when it is riding high with mkt cap above Rm 10b to Rm 15b leh ??
It is General Raider loh!

What is the similiarity of Serba, Megan Media, Airasia, YNH, Widad & Rapid b4 it collapse leh ??
It is heavy in debts & share price goreng to very high price in order to bring maximum damage to the company as well as the investors loh!

The main reasons why these companies collapse, is bcos they are addicted to very very high toxic debts within a very short period that beyond the sustainable of its cashflow generation and its strength of its balance sheet loh!

Take airasia for example it used to make a few billion ringgit at its height but the profits are generated by huge acquisition & disposal of aircrafts that are speculative & unsustainable in nature loh!
In airasia it is aircrafts whereas in yinson is FPSO loh! both talk up very leverages in which they do not need to do loh!
But yet these companies took this exceptional risk which resulted in eventual self destruction mah!
And did the stockbroking analyst highlighted the self destruction nature of airasia, no loh.....until very late loh!

Coming back to Yinson, it has Rm 16.2b of borrowing v its cash of only rm 2.8b loh!
Another destructive aspect of Yinson it has finance lease receiveable of Rm 8.2b , how does this come about ? Ans; Due to over funding of its long term customers loh!
(By Right Yinson Customer should fund their capex expansion thru their bank not make use of Yinson mah!}

Thus raider highlighted the balance sheet of Yinson is not well manage & not prudent n very risky log!

With the huge debts of Yinson around Rm 16b, u can actually afford to buyout the whole ambank with a mkt cap of rm 14.3b mah!

What the hell yinson dealing with debts of Rm 16b leh ??

Just ask yourself on Yinson this Buffet self tested question & answer leh?.
"Like case of Insas growth rate pa is 18%. Note this very powerful factor as insas cash generation is 18% pa and growth rate is 18% pa, that means all insas growth is back up by cash generation equivalent, this is a very powerful factor to the sustainability of cash flow and growth rate." which is No in Yinson case mah!

stockraider

31,527 posts

Posted by stockraider > 2 weeks ago | Report Abuse

Again alot of people has this misconception of "good loans" v "bad loans" loh!
Thereotically,
Good loans are loans taken for productive purpose that expand & grow the business such term loan to finance factory & business and working capital loh!
Bad loans are taken for non productive purpose such as car loans, consumer loans, credit card loans etc!

The definition is so simplistic, why every year the banks have to take a charge of Rm billion & billion bad loans taken for productive purpose leh ?
The answer is not simple loh! Billion & Billion of loans taken for productive also can failed mah!

The chief reasons whether the loans is productive it depend on circumstances...for example too much capacity, sudden fall in demand, unable to complete the project, business disputes, sudden collapse of the economy surely some cannot be forseen loh!

Thus a good management must ensure that loan taken must not be excessive & over the capacity of the co to service & in other words one should not overtrade loh!

For the bank a good loans is a loan taken & well service whether it is a productive or non productive loan mah!

One good example of Yinson is its over financing of its customers to tune of more than Rm 8 billion in terms of finance lease receivable loh!
Why cannot the customer borrow from banks, which give so much lower interest compare to Yinson leh ? Surely this indicates inherent weakness to the business & the financial position of its customers loh!

In addition over trading may lead to the financial collapse of airasia in terms of huge funding for its excessive number of aircraft purchase loh!

Surely in the case of Yinson....why did it ,taken so much excessive loan to do so many Fpso project which most under WIP that is not generating any profit or cashflow yet leh ?

Can they see, just a minor weaknesses in the supply chain will cause the whole FPSO funding collapse leh ?
Just look at SAPNRG at its height, no one dare to say any wrong of the Group which has capitalization Rm 34b, coincidently the same mkt cap of YTL POWER today loh!

Today Sapnrg collapse to mkt cap of Rm 1b, the collapse due to over trading & the same risk may apply to YTl Power too loh!

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

Haha Raider, Mabel Sapnrg holding cost is at 3 sen...Can't go wrong at this entry level.

Serba only left 2019 Bonus Issues Free Warrant..

Meow

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Posted by Mabel > 1 hour ago | Report Abuse
#MOBAjobg Gearing ratio (GR) as defined in AR = Net debt / Total Capital
Yinson = 0.55
SAPNRG = 1.41
AirAsia = 1.47
YTLp = 0.58
As a yardstick, GR that doesn’t exceed 0.50 is prudent.
12/02/2024 1:59 AM

Thank you MOBAjobg for this analysis. Let’s analyse the provided gearing ratios for the mentioned companies:

Yinson Holdings Berhad (Yinson):
Gearing Ratio (GR) = 0.55
Interpretation: Yinson’s gearing ratio indicates that 55% of its capital is funded by debt, while the remaining 45% comes from equity.
Prudence Assessment: Yinson’s gearing ratio is within the yardstick of 0.50, suggesting a relatively conservative financial structure.

SAPURA ENERGY BERHAD (SAPNRG):
Gearing Ratio (GR) = 1.41
Interpretation: SAPNRG has a higher gearing ratio, with 141% with a significant reliance on debt financing.
Prudence Assessment: SAPNRG’s gearing ratio exceeds the yardstick of 0.50, indicating a higher degree of financial leverage.

AirAsia Group Berhad (AirAsia):
Gearing Ratio (GR) = 1.47
Interpretation: AirAsia’s gearing ratio stands at 147%, with a significant reliance on debt financing.
Prudence Assessment: AirAsia’s gearing ratio exceeds the prudent threshold of 0.50, signalling higher financial risk.

YTL Power International Berhad (YTLp):
Gearing Ratio (GR) = 0.58
Interpretation: YTLp’s gearing ratio is 58%, indicating a balanced mix of debt and equity.
Prudence Assessment: YTLp’s gearing ratio is within the yardstick of 0.50, aligning with a prudent financial structure.

In summary:

Yinson and YTLp exhibit prudent gearing ratios within the threshold.

SAPNRG and AirAsia have higher gearing ratios, implying greater reliance on debt financing. That’s why both of them are classified as PN 17 Companies.

Remember that context matters, and industry norms play a role. Companies in different sectors may have varying acceptable gearing ratios. It’s essential to consider the specific industry, business model, and risk tolerance when assessing prudence.

In summary, debt financing involves borrowing with repayment obligations, while equity financing involves selling ownership stakes without repayment requirements.

Each method has advantages and trade-offs, and companies choose based on their specific needs and financial goals

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

I will use this FPSO Agogo to illustrate borrowings of Yinson.

FPSO Agogo. Angola. 100% stake.
https://www.theedgemarkets.com/node/657117
https://klse.i3investor.com/web/announcement/detail/1757017
Contract value = USD 5.3 billion (Inclusive 15 years + optional 5 years extension). 15 years firm and with extension 5 years.
Start operation in the fourth quarter of 2025.
Annual (charter rate) revenue = USD 5300 million/15 = USD 353.33 million = RM 1.660 billion (1 USD = RM 4.70)
PBT (40% of revenue) = 664.26 million
PAT less 37% tax = 418.48 million

Capex to build the vessel = USD 2.00 billion
Cash in advance from oil company = USD 500 million.
Yinson has to come out a capital of USD 1.5 billion to build the vessel.
Using 1 USD = 4.70, capex involved to build the vessel = 7.05 billion.

FPSO is a capital intensive infrastructure project, no bank borrowing is not possible to do this FPSO project.
Bank will not simply lend money to FPSO owner (Yinson) unless the bank has very good confidence that Yinson can deliver the vessel in time and able to make repayment of loan timely.
Yinson has a very good track record in FPSO project management, all vessels are delivered in time so far. No record of late delivery.
Yinson is considered to be the best FPSO project manager in the world.

ROI (return of investment)
According to the management of Yinson, Yinson will be able to payback the loan in 7 years.
15 years contract = USD 5.3 billion
Contract per year = USD 353 million
Contract value after 7 years = USD 2.47 billion
Yinson will earn a PAT of USD 88.94 million per year for 7 years = USD 622.51 million.
Yinson will earn a PAT of USD 88.94 million per year for next 8 years = USD 711.52+ USD1.5 billion (no more loan repayment) = USD 2.211 billion.

If Yinson does not have a loan of USD 1.5 billion for this FPSO project, how to earn a total PAT = USD 2.833 billion in 15 years.

Is this loan of USD 1.5 billion good for Yinson ?
Ans = Yes.
Bank is always very scared to have a bad loan, the bank gave a loan to Yinson is a proof that Yinson is a very good company with proven records to show.

High debt is not necessary a bad thing, it is the management of the company to manage the debt effectively.

I believe the high debt situation of Yinson will be resolved in the next few years after delivery of FPSO MQ and Atlanta respectively in the mid of 2024 and FPSO Agogo in the late part of 2025.

I write with facts and figures in my article and I really analyse the stock well before I invest.
Thank you.

stockraider

31,527 posts

Posted by stockraider > 2 weeks ago | Report Abuse

4 major sign of financial danger in respect of Yinson financial health

1. negative working capital of Rm 646m.
2. Very High finance lease receivable of Rm 8.2b (An indication of customer using Yinson as a soorchaii financier on its high capex investment}
3. High Gearing ratio of 2.94x.
4, Sharp growing negative operating cashflow of Rm1.6b

U see the main issue for a sustainable longterm business survival is positive cashflow....cashflow & cashflow and these ingradients are missing in Yinson loh!

Yes Profit is important.....but compare to the liquidity health & cashflow are very essential without it your profit could be just a temporary mirage to the company good prospect loh!

Financial liquidity & cashflow will be yinson major risk bcos right now it is overtrading as it being greedy & biting more than it can chew in pursuit of poor qualty profits....this situation cannot be sustained loh!

Posted by Investar2862 > 2 weeks ago | Report Abuse

"2. Very High finance lease receivable of Rm 8.2b (An indication of customer using Yinson as a soorchaii financier on its high capex investment}"

So, the BANKS that financing YINSON must be the biggest SoorChaii ??? No???

YINSON must be damn good in convincing the BANKS to give out the loans to the smaller soorchaii 😃

I guess, Yinson didn't bothered to convince the super smart small investors to invest in their company ,,, believing that they should be able to think/see the obvious 😁

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

A person has a low IQ,
A person talks without facts and figures,
A person talks nonsense and telling lies,
A person likes to twist the story to suit him without facts and figures,

If you meet such person in I3, it is best you ignore him.
Let him syok sendiri.
Thank you.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Yinson has been awarded the ‘Industry Excellence Award’ under the energy sector at MSWG-ASEAN Corporate Governance Award 2021, in recognition of the Group’s exemplary corporate governance disclosure and practices amongst Malaysian public listed companies.
I believe the management of Yinson can be trusted.
Thank you.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

FPSO MQ - The oil company involved is PetroBras.
FPSO Atlanta - The oil company involved is PetroBras.
FPSO Agogo - The oil company involved is Eni (Italy oil company) and BP.

Are these oil companies "con" company try to cheat Yinson ?

These oil companies want FPSO vessels urgently because the cost of oil production using FPSO system is less than USD 10 per barrel.
The price of crude oil is about USD 80 per barrel.
If the FPSO vessels can be ready now, these oil companies are laughing all the way to the bank.

Talk with facts and figures, not the autie selling vegetable in Pudu market, her words has no value and credibility.
Uni, BP and Petrobras are creditable oil companies in the world.
Thank you.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

OTB FPSO MQ - The oil company involved is PetroBras.
FPSO Atlanta - The oil company involved is PetroBras.
FPSO Agogo - The oil company involved is Eni (Italy oil company) and BP.

Are these oil companies "con" company try to cheat Yinson ?

These oil companies want FPSO vessels urgently because the cost of oil production using FPSO system is less than USD 10 per barrel.
The price of crude oil is about USD 80 per barrel.
If the FPSO vessels can be ready now, these oil companies are laughing all the way to the bank.

Talk with facts and figures, not the autie selling vegetable in Pudu market, her words has no value and credibility.
Uni, BP and Petrobras are creditable oil companies in the world.
Thank you.

12/02/2024 7:08 PM

Thank you OTB..

In addition to the above, Yinson Holdings Berhad has the following FPSO (Floating, Production, Storage, Offloading) units:

Operational FPSO Units:

1. FSO PTSC Bien Dong 01: Located in Vietnam.
2. FPSO PTSC Lam Son: Also located in Vietnam.
3. FPSO John Agyekum Kufuor: Located in Ghana.
4. FPSO Abigail-Joseph: Operational location in Nigeria.
5. FPSO Anna Nery: Operational location in South America East Coast
6. FPSO Maria Quitéria: Operational location in Brazil.

These FPSO units play a crucial role in offshore oil and gas production, contributing to global energy stability. Under Construction FPSO Units: These FPSO units operate 24/7, withstanding harsh weather conditions and ensuring stable energy production. Yinson maintains a fleet uptime of above 99% since 2014.

To Our Success

Meow

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Dear Mabel,

I think you missed out one FPSO.

FPSO Helang. Malaysia. 100% stake.
https://www.bursamarketplace.com/mkt/tools/research/ch=research&pg=research&ac=656871&bb=669433
Contract value = USD 1.4 billion. 8 years firm and with 10 extension periods of one year each.
(2019 to 2027) Extension (2028 to 2037).
Annual (charter rate) revenue = USD 1400 million/8 = USD 175.00 million = RM 822.50 million (1 USD = RM 4.70)
PBT (40% of revenue) = 329.00 million
PAT (37% tax) = 207.27 million

Thank you.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

Thank you so much OTB for sharing.

Brilliant!

To Our Success !

Meow Meow Meow

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

https://www.youtube.com/watch?v=CU62rxOZuZ0

Thank you so much OTB for sharing.

Brilliant!

Happy to be on board Yinson. So in total Yinson has 7 Long Term FPSO Contract with 3 Under Construction with more than 23 Billion Contracted Revenues.

Operational

1. FSO PTSC Bien Dong 01: Located in Vietnam.
2. FPSO PTSC Lam Son: Also located in Vietnam.
3. FPSO John Agyekum Kufuor: Located in Ghana.
4. FPSO Abigail-Joseph: Operational locationin in Nigeria.
5. FPSO Anna Nery: Operational location in South America East Coast
6. FPSO Maria Quitéria: Operational location in Brazil.
7. FPSO Helang. Malaysia. 100% stake.

Under Construction

8. FPSO MQ - The oil company involved is PetroBras.
9. FPSO Atlanta - The oil company involved is PetroBras.
10. FPSO Agogo - The oil company involved is Eni (Italy oil company) and BP.

Now Mabel is in love. When you are in love, the world seems like a great place to live in. Love has that effect on everyone. Life seems worthy of living and fate seems more giving. Being in love is therefore one of the most enriching and precious experiences of one's life. I really love this song...I hope you like it

To Our Success !

Meow

stockraider

31,527 posts

Posted by stockraider > 2 weeks ago | Report Abuse

After looking very carefully on Yinson weak cashflow, one can easily pick up very bad red flag as follows loh![

1. Finance lease receive for the 9 months (Rm 5.7b)
2. Additional Finance lease receive for the 9mths Rm 0.6
Negative cashflow for financing the huge capex its customer (Rm 5.1b)

As pointed out by OTB....he says this is use to finance Petrobas FPSO loh!

As raider says there is huge risk of Yinson being use as a sooorchaiii financier, enclose herewith is the doubts raider like to point out mah!;

1. Why did Petrobas want Yinson to finance, when it can definitely rate from the bank leh ?
2. What is the strength of brazil Macro economy of Brazil leh ?
3. What is the basic interest rate of brazil currency ?
4. What is Petrobas financial strength v Petronas leh ?

Answer
1. Most likely they use Yinson to finance bcos strategically Yinson to be over exposed in the the project & event the oil industry downtown or when brazil economy, they can squeeze Yinson balls for a very big discount to compensate for their potential losses mah!
2. Every body thought brazil is a very strong economy, but in fact it is not true loh!
It have Debt to Gdp of about 100% and Brazilian people are spendthrift & over in debted, in fact Brazil is much weaker compare to msia. Any down turn Brazil will be hit bad, and most of Latin Anerica is like that loh.....they like merry now & do not care about the future....just look at Argentina, Chile & Venezuela is the same mah!
3. The basic interest rates of Brazil fluctuate very violently from a low of low of 11% to a high 40% for the past 10 yrs. On top of that brazil inflation is close to 10% most of the time.........thus brazil has very high inflation loh! Yes Yinson may argue most of their project deal with USD loh....but put it this why loh....some of the cost may be in Brazilian Real. & if want to hedge it, may cost yinson financing cost close to 16% to 18% pa loh!
4.Petrobas financial strength is not that strong as compare to Petronas bcos it was set up not long compare to Petronas more than 50 yrs mah! Thus they always want to use Yinson the tender winner as a soorchaiii financier & risk taker mah! If Yinson do not want to be the Soorchaiii, they will be many other soorchaiii....thus it is Yinson type of culture that cause it to expose to high risk mah! Thats why Big Oil service Co use to be darling in Msia such as KNM, Armada and all Sapnrg all eventually crumble bcos of the violent nature of oil & gas business loh!

OTB claim that Yinson is different bcos it wins alot of accolades, but do not be fool loh!
Do u know that companies like sapnrg & Armada also won many accolades leh ??

Sapnrg at the height is inside the KLSE composite Index with mkt cap of Rm 36b. In fact SAPNRG is consider one of largest oil service co in the world and comparable to Haliburton of USA loh!
Msian Govt had been very proud of Sapnrg as one of malay control Co, to be so well known who make it in the world scene & won many many prestigious awards loh!

Then there is Armada the biggest FPSO operators in msia own by Ananda Krishnan (that time the richest man in Msia}. Armada mkt cap is close to Rm 26b at its height loh!
Bcos of Armada success.....they are very proud & expanded aggressively all over the world to Australia, Africa, Vietnam and Thailand loh!
Eventually Armada collapse, but the cause of the collapse is australia in which most Analyst think very highly, bcos it has a very good legal system and they deal with most reputable australia listed co mah!,
But still Armada kena played out loh! In fact Armada also lost in the Court case loh!
Just imagine , if this can happen in Australia which has a good legal system....the same thing can be more likely happened in Brazil.

Do u know....the oil industry has destroyed....Large malay co like Sapnrg and large india co armada & then it will be large chinese Co like Insas next loh!

Why Msia co fail in Oil & Gas ind whereas western co like haliburton succeed leh ??
This bcos this type of industry is highly legalistic loh!

U must take note, what OTB commend is too simplistic, it could be due to vested interest also loh!



..

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Do not know what is FPSO project, please do not comment.

A person has a low IQ,
A person talks without facts and figures,
A person talks nonsense and telling lies,
A person likes to twist the story to suit him without facts and figures.

If you meet such person in I3, it is best you ignore him.
Let him syok sendiri.
Thank you.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Posted by Philip ( buy what you understand) > 1 month ago | Report Abuse

I am probably one of the largest long term investors in yinson and have been invested since 2012. All I can say is that it is more wise to look at yinson as a cyclical business that takes time to gestate and grow. You can take their initial foray into Vietnam as an example.

1. Get a contract with a clean and clear delivery date and good payment rate which is based on the contract value minus the ship construction cost in China.
2. Make sure that you get some advance to help you pay your way through the construction period where you still own the ship at the end.
3. Borrow money to fund the ship construction.
4. Gestate for the 3-5 years while you complete the fpso.
5. Get a very strong team to keep everything on time and on budget.
6. Get to first oil and keep production high.

From there rinse and repeat.

Yinson has done this very very well over the decade. And they are still keeping to this bread and butter business with good funding.

For me I will never know when the share price will go up, but I bought at a cheap price and will continue to hold as the fundamentals remain intact.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

I believe the CEO of Yinson is a capable and enterprising person.
He makes Yinson the best FPSO manager in the world ... I repeat ... the best in the world.
Hence 10 out 10 analysts in town recommended a buy on Yinson.
I buy Yinson because I believe in the analyst's report.

If Yinson suffers the same downfall like Sapnrg, I believe
1.) The owner of Yinson and family will be a bankrupt.
2.) EPF will lose a lot of money.

I believe the owner of Yinson will know the consequence, he knows his risk.
I believe Yinson will make a PAT of around 1 billion in FY 2024 results.
FY 2024 (end January 2024) result will be released in March 2024.

IB reports and target price projections
IB/FY2024/FY2025/TP
MBB/872/1008/5.05
UOB/648/854/3.95
KEN/603/731/3.65
AMI/823/798/3.98
CIMB/1036/982/3.57

Good luck.
Thank you.

Posted by Permutation > 2 weeks ago | Report Abuse

To make a PAT of RM1 Billion for FY2024, Yinson need to make a PAT for the 4th qtr of >RM310 M. Is there a management guidance of the Q4 PAT figure?

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

#stockraider After looking very carefully on Yinson weak cashflow, one can easily pick up very bad red flag as follows loh![

2. What is the strength of brazil Macro economy of Brazil leh ?

13/02/2024 12:03 PM

General Dear,

FPSO is a long term business.

One of MY Coach, Tony Robbins, the renowned motivational speaker, and life coach, has shared many inspiring quotes. One of his notable statements is “Don’t be a consumer; be a shareholder that produces.”

This powerful quote encourages us to shift our mindset from passive consumption to active participation. Instead of merely consuming, strive to take ownership, create value, and contribute. By adopting a “shareholder” mentality, we become active producers in our own lives, businesses, and relationships. Remember, it’s not just about what we consume; it’s about what we contribute and create.

Forecast: The World’s Largest Consumer Markets in 2030

Consumers are the lifeblood of the global economy, the driving force behind market dynamics, and the ultimate arbiters of demand.

But where are the biggest congregations of consumers, and are they growing?

Brazil is the sixth-most populated country, will have the fifth-largest consumers class by 2030, close to 136 million people.

Meow

FedEx

13 posts

Posted by FedEx > 2 weeks ago | Report Abuse

KUALA LUMPUR: Yinson Holdings Bhd's indirect wholly-owned Netherlands-based subsidiary Yinson Bergenia Production BV (YBPBV), has secured a US$720 million syndicated loan facility.

The lenders are ING Bank NV, Malayan Banking Bhd, Natixis Corporate & Investment Banking, Standard Chartered Bank (Singapore) Ltd and United Overseas Bank Ltd, who will act as the lead arrangers, underwriters and bookrunners.

The agreement was also signed by the Hongkong and Shanghai Banking Corporation Ltd and JP Morgan which are participating as mandated lead arrangers.

The six-year limited recourse loan will be used to support the ongoing construction of FPSO Maria Quitéria, a floating, production, storage and offloading (FPSO) project awarded to Yinson by Petróleo Brasileiro SA (Petrobras) in November 2021.

It is a limited recourse loan, i.e. the creditor seeks to wholly or primarily rely on the cash flows and assets of the project for repayment and security, rather than on Yinson.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

I buy into Yinson share because 10 out 10 analysts recommending a buy on Yinson.
Yinson is not my major investment in my portfolio.
I buy a small amount on this stock as a long term investment.
I like the fundamentals of Yinson.
Yinson has an order book of > USD 20.0 billion, the order will last until 2048.
Thank you.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

What is the share price of Petrobras ?
Ans : 41.30 BRL.
1 BRL = 0.96 RM.

Brazil is the largest oil producer in South America, the eighth largest global oil producer, eighth largest oil consumer, and has the largest recoverable ultra-deep oil reserves in the world.

Why is Brazilian real getting stronger ?
In addition to their higher interest rates, Brazil and Mexico benefitted from being relatively safe markets to invest in during the uncertain global environment since the war in Ukraine and the resulting energy crisis in Europe and attracted capital flows that moved out of Russia.

Brazilian real and Mexican peso are the only major currencies that have outperformed the strong US dollar YTD.

Surging commodity prices helped net commodity exporters like Brazil. Brazilian real has benefitted from its strong exports earlier this year, thanks to the strong demand and higher commodity prices, e.g., price rises in crude oil and agricultural products, amid the global supply disruptions since the Russian-Ukraine conflict started. Total exports of Brazil broadly increased in 2022, as Chart 2 shows, driven by the growth in crude oil and soybeans.

What is the share price of Petrobras ?
Ans : 41.30 BRL.
1 BRL = 0.96 RM.

Brazil is the largest oil producer in South America, the eighth largest global oil producer, eighth largest oil consumer, and has the largest recoverable ultra-deep oil reserves in the world.
I repeat ......

I believe Petrobras is larger than the Petronas of Malaysia.
Is it true that Petrobras cannot get loans from the bank ?
It needs Yinson to secure loan for Petrobras on her behalf.
Simply bullshit and tell lies in this forum.

Do not know how FPSO works, please do not bullshit and tell lies in I3.

I talk with facts and figures.
Thank you.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Posted by FedEx > 16 minutes ago | Report Abuse
KUALA LUMPUR: Yinson Holdings Bhd's indirect wholly-owned Netherlands-based subsidiary Yinson Bergenia Production BV (YBPBV), has secured a US$720 million syndicated loan facility.

The lenders are ING Bank NV, Malayan Banking Bhd, Natixis Corporate & Investment Banking, Standard Chartered Bank (Singapore) Ltd and United Overseas Bank Ltd, who will act as the lead arrangers, underwriters and bookrunners.

The agreement was also signed by the Hongkong and Shanghai Banking Corporation Ltd and JP Morgan which are participating as mandated lead arrangers.

The six-year limited recourse loan will be used to support the ongoing construction of FPSO Maria Quitéria, a floating, production, storage and offloading (FPSO) project awarded to Yinson by Petróleo Brasileiro SA (Petrobras) in November 2021.

It is a limited recourse loan, i.e. the creditor seeks to wholly or primarily rely on the cash flows and assets of the project for repayment and security, rather than on Yinson.
---------------------------------
I will use this FPSO Maria Quiteria to illustrate borrowings of Yinson.

FPSO Maria Quitéria. Brazil. 100% stake.
https://www.theedgemarkets.com/article/yinson-lands-fpso-contracts-worth-us52-billion-brazil
Contract value = USD 5.2 billion. 22.5 years firm.
Start operation in mid-2024.
Annual (charter rate) revenue = USD 5200 million/22.5 = USD 231.11 million = RM 1.086 billion (1 USD = RM 4.70)
PBT (40% of revenue) = 434.40 million
PAT (37% tax) = 273.67 million

I cannot get the construction cost of FPSO Maria Quiteria from the Internet, I assume it is about USD 1.5 billion because this FPSO contract is smaller than FPSO Agogo.

Yinson has to come up with a capital of USD 1.5 billion to build the vessel.
Using 1 USD = 4.70, capex involved to build the vessel = 7.05 billion.

FPSO is a capital intensive infrastructure project, no bank borrowing is not possible to do this FPSO project.
Bank will not simply lend money to the FPSO owner (Yinson) unless the bank has very good confidence that Yinson can deliver the vessel in time and be able to make repayment of the loan timely.
Yinson has a very good track record in FPSO project management, all vessels are delivered in time so far. No record of late delivery.
Yinson is considered to be the best FPSO project manager in the world.

ROI (return of investment)
According to the management of Yinson, Yinson will be able to pay back the loan in 7 years.
22.5 years contract = USD 5.2 billion
Contract per year = USD 231 million
Contract value after 7 years = USD 1.617 billion
Yinson will earn a PAT of USD 58.21 million per year for 7 years = USD 407.48 million.
Yinson will earn a PAT of USD 58.21 million per year for next 15.5 years = USD 902.26 + USD1.5 billion (no more loan repayment) = USD 2.402 billion.

If Yinson does not have a loan of USD 1.5 billion for this FPSO project, how to earn a total PAT = USD 2.402 billion in 22.5 years.

Is this loan of USD 1.5 billion good for Yinson ?
Ans = Yes.
Banks are always very scared to have a bad loan, the bank giving a loan to Yinson is proof that Yinson is a very good company with proven records to show.

High debt is not necessarily a bad thing, it is the management of the company to manage the debt effectively.

I believe the high debt situation of Yinson will be resolved in the next few years after delivery of FPSO MQ and Atlanta respectively in the mid of 2024 and FPSO Agogo in the late part of 2025.

I write with facts and figures in my article.
Thank you.

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

The loan that secured for this FPSO Maria Quiteria is a limited recourse loan.

What is a limited recourse loan ?
Ans : A limited recourse loan, i.e. the creditor seeks to wholly or primarily rely on the cash flows and assets of the project for repayment and security, rather than on Yinson.

Thank you.

leno

6,123 posts

Posted by leno > 2 weeks ago | Report Abuse

when i see a company with almost no cash, manage to secure MASSIVE loan, syndicate some more , ...remind me of people with nothing, go borrow money from ah long

😘😘

OTB

10,781 posts

Posted by OTB > 2 weeks ago | Report Abuse

Posted by Mabel > 12 hours ago | Report Abuse

Cash Balance: This is the amount of cash and cash equivalents that a company has at a given point of time. It indicates the liquidity and solvency of a company. A higher cash balance means that the company has more cash available to meet its obligations and invest in its growth. A lower cash balance means that the company has less cash available to meet its obligations and invest in its growth.

The cash balance of Yinson as of October 2023 was RM2.75 billion, which means that it had RM2.75 billion of cash and cash equivalents.

#MOBAjobg
Gearing ratio (GR) as defined in AR = Net debt / Total Capital
Yinson = 0.55.

Yinson Holdings Berhad (Yinson):
Gearing Ratio (GR) = 0.55
Interpretation: Yinson’s gearing ratio indicates that 55% of its capital is funded by debt, while the remaining 45% comes from equity.
Prudence Assessment: Yinson’s gearing ratio is within the yardstick of 0.50, suggesting a relatively conservative financial structure.

Please understand how FPSO works before post your comments.
Thank you.

Mabel

22,924 posts

Posted by Mabel > 2 weeks ago | Report Abuse

#OTB What is the share price of Petrobras ?
Ans : 41.30 BRL.
1 BRL = 0.96 RM.

Brazil is the largest oil producer in South America, the eighth largest global oil producer, eighth largest oil consumer, and has the largest recoverable ultra-deep oil reserves in the world.

Why is Brazilian real getting stronger ?
In addition to their higher interest rates, Brazil and Mexico benefitted from being relatively safe markets to invest in during the uncertain global environment since the war in Ukraine and the resulting energy crisis in Europe and attracted capital flows that moved out of Russia.

Brazilian real and Mexican peso are the only major currencies that have outperformed the strong US dollar YTD.

Surging commodity prices helped net commodity exporters like Brazil. Brazilian real has benefitted from its strong exports earlier this year, thanks to the strong demand and higher commodity prices, e.g., price rises in crude oil and agricultural products, amid the global supply disruptions since the Russian-Ukraine conflict started. Total exports of Brazil broadly increased in 2022, as Chart 2 shows, driven by the growth in crude oil and soybeans.

What is the share price of Petrobras ?
Ans : 41.30 BRL.
1 BRL = 0.96 RM.

Brazil is the largest oil producer in South America, the eighth largest global oil producer, eighth largest oil consumer, and has the largest recoverable ultra-deep oil reserves in the world.
I repeat ......

I believe Petrobras is larger than the Petronas of Malaysia.
Is it true that Petrobras cannot get loans from the bank ?
It needs Yinson to secure loan for Petrobras on her behalf.
Simply bullshit and tell lies in this forum.

Do not know how FPSO works, please do not bullshit and tell lies in I3.

I talk with facts and figures.
Thank you.
14/02/2024 9:55 AM

Nice and lovely OTB..

In the movie Fast Five, during a confrontation, Dominic Toretto delivers the memorable line:

“And your mistake? Thinking you’re in America. You’re a long way from home. This is Brazil!”

This quote emphasizes the shift in location and the high stakes faced by Yinson; Mabel’s 13th Prince..

To Our Success !

Captain Mabel Meow

OTB

10,781 posts

Posted by OTB > 1 week ago | Report Abuse

These are the stocks analysts favour for 2024.
https://klse.i3investor.com/web/blog/detail/savemalaysia/2024-02-16-story-h-188419978-These_are_the_stocks_analysts_favour_for_2024

Yinson
Across sectors, top picks include floating production storage offloading vessel (FPSO) operators Yinson Holdings Bhd and Bumi Armada Bhd.
Thank you.

nikicheong

2,283 posts

Posted by nikicheong > 1 week ago | Report Abuse

Yinson mulls US$1b funding round for unit before IPO, Bloomberg reports

https://theedgemalaysia.com/node/701570

OTB

10,781 posts

Posted by OTB > 1 week ago | Report Abuse

I hope it is a good news to Yinson, the share price of Yinson failed to perform despite many good announcements previously.
I believe the PAT for FY 2024 result (Jan 2024) to be released in March 2024 will be very good.
I expect the PAT to be around 1 billion.
No many companies listed in KLSE able to report 1 billion PAT.
Hope for a better luck for Yinson in 2024.

AmInvest recommended a target price of 4.00 for Yinson in its latest report attached.
https://klse.i3investor.com/web/pricetarget/research/70410
Thank you.

rl68

169 posts

Posted by rl68 > 5 days ago | Report Abuse

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.

8dragon

1,979 posts

Posted by 8dragon > 16 hours ago | Report Abuse

This is a dead counter, staying @ 2.20-2.50 for years.

8dragon

1,979 posts

Posted by 8dragon > 14 hours ago | Report Abuse

Expect a poor qtr financial result.....sold all @ 2.49...

OTB

10,781 posts

Posted by OTB > 13 hours ago | Report Abuse

I believe Q4 2024 result should be good, PAT is around 1.0 billion for FY 2024.
The order book now is > USD 20 billion or RM 100 billion, the order can last until 2048.

Look at Dayang, Uzma, Carimin and Penergy, the share prices are at new highs despite having less order books compared to Yinson.
All order books of 4 stocks combined together are still less than the order book of Yinson.
What is the share price of Yinson ?
At lower low in the last 1 year.
There is no support at all on this stock. This is not the way to run the business.
The CEO knows to create profit for Yinson, but he does not know to create wealth for all the shareholders of Yinson.
This CEO should not run the business in this manner, he must know to create profit for Yinson and create wealth for all shareholders of Yinson like what TS Francis Yeoh of YTLPower has done for all YTL stocks listed in KLSE.

This hopeless stock will cause you sleepless night all the time.
Very sad.
Thank you.

Posted by Permutation > 13 hours ago | Report Abuse

Perhaps Yinson should be compared with Armada?

OTB

10,781 posts

Posted by OTB > 12 hours ago | Report Abuse

The Q4 2023 result of Armada is good if there is no impairment loss of 514 million.

I take a quick look into the results.
Ebitda = 386 million profit ( historical high operating profit).
Impairment loss = (514) million.

If without impairment loss, there is still an operating profit for Armada.
Thank you.

UncleFollower

1,035 posts

Posted by UncleFollower > 12 hours ago | Report Abuse

OTB, Yinson no worries. Your fundamental analysis in tact. If there's unforeseen event, Yinson crash, we buy more. The greatest risk to Yinson should have been external, interest rate risk, oil risk even if it's indirect. Once Fed rate peaks (if it didn't already) and have a clear path downward, perceived interest rate risk will reduce substantially. Oil has been stable - FPSOs are happy with Oil $60, and I always say, Yinson survived negative Oil price period in tact, profits intact, not share price infact...

By right, Yinson is an indirect proxy to USD strength. USD up, Yinson earnings up. The share price is reflecting none of that.

Surprise seller emerged in warrants. I am going for it. Starting with $500k today at 0.435, if all can be done today then be it. If itchy finger maybe hit more. In any event, if warrants fail I will exercise them all at total cost $2.70+ which I will accept. That's the cost of speculating for short term gains lol

The frustration we have with Yinson is not so much how much money it makes...it's the opportunity cost where it's going no where while we are already in a baby bull market pffffffff

OTB

10,781 posts

Posted by OTB > 11 hours ago | Report Abuse

Dear UncleFollower,

Thank you for your comforting statement, I have waited for quite a long time.
I missed all opportunity to make money in the last few months.

I have a big disappointment on Yinson-WA recommendation in 2023.
In the early part of 2023, I spotted 2 good stocks to buy.
One is Yinson and the other is YTLPower.
The share prices of both YTLPower and Yinson-WA are almost the same in the range of 0.70.
I recommended strongly on Yinson-WA instead of YTLPower because of analyst recommendations.
All ten analysts recommended a buy on Yinson and there was no analyst recommend a buy on YTLPower.
The analyst from Maybank recommended the target price for Yinson is 5.05.
If you buy Yinson-WA at 0.70, based on the target price of Yinson at 5.05, the share price of Yinson-WA should be 3.27 based on 10% premium.
The potential gain of Yinson-WA is 367% (ROI).
I bought Yinson-WA and I dare not buy YTLPower even I have a big capital with me.
It is the biggest mistake I had made in 2023, otherwise, most of my valued clients would have made a lot of money in 2023 and 2024.
I really cannot forgive myself on this big mistake.
I bought YTLPower shares later when the share price was ranging from 1.00 to 1.30 respectively.

A sad story to tell here.
Thank you.

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