YINSON HOLDINGS BHD
KLSE (MYR): YINSON (7293)
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Last Price
2.70
Today's Change
0.00 (0.00%)
Day's Change
2.68 - 2.74
Trading Volume
3,073,800
Overview
Market Cap
8,653 Million
NOSH
3,205 Million
Avg Volume (4 weeks)
2,174,952
4 Weeks Range
2.61 - 2.78
4 Weeks Price Volatility (%)
52.94%
52 Weeks Range
2.25 - 2.91
52 Weeks Price Volatility (%)
68.18%
Previous Close
2.70
Open
2.70
Bid
2.68 x 141,500
Ask
2.70 x 932,200
Day's Range
2.68 - 2.74
Trading Volume
3,073,800
Financial Highlight
Latest Quarter | Ann. Date
31-Jul-2024 [#2] | 30-Sep-2024
Next QR | Est. Ann. Date
31-Oct-2024 | 14-Dec-2024
T4Q P/E | EY
9.28 | 10.77%
T4Q DY | Payout %
1.03% | 9.51%
T4Q NAPS | P/NAPS
1.77 | 1.52
T4Q NP Margin | ROE
12.00% | 16.39%
Market Buzz
2024-11-03
2024-11-01
2024-11-01
2024-10-30
2024-10-30
2024-10-29
2024-10-28
2024-10-25
2024-10-24
2024-10-24
2024-10-23
2024-10-22
News and Blogs
Related videos
Company Profile
Sector: ENERGY
Sector: ENERGY
Subsector: ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES
Subsector: ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES
Description:
Yinson Holdings is a transportation and logistics company domiciled in Malaysia. The company organises itself into two segments: marine and other operations. The marine segment, which generates the vast majority of revenue, leases, trades, and operates vessels; offers chartering for other floating marine assets; provides consulting services for ship management; and provides other marine-related services. The other operations segment makes investments, and offers business and management consultancy services.
Discussions
5 people like this. Showing 50 of 4,864 comments
John,
FPSO Atlanta will be first oil very soon…
https://brazilenergyinsight.com/2024/11/01/onesubsea-completes-pump-installation-at-brazils-offshore-field-in-anticipation-of-fpsos-first-oil/
2 days ago
Finally, FPSO Atlanta first oil soon.
I've been asking this for 5 years.... when Yinson gonna fly? This time can fly?
1 day ago
finger cross... the only thing that flew was the debt, understandably they use the debt to build the FPSO... hopefully not another 5 years.
1 day ago
Hoho the hidden risk :
This article first appeared in The Edge Malaysia Weekly on June 24, 2024 - June 30, 2024
It is always a concern when a company’s financial accounts are unclear, causing those perusing the document — which would include bankers, creditors, shareholders and investors — to question the numbers. The primary objective of a company’s financial statements is to present a true and fair view of its performance and position.
The statements should minimise ambiguity and be easily digested by users who presumably have a basic understanding of accounting and finance.
It was only earlier this month that oil and gas player Serba Dinamik Holdings Bhd was delisted from Bursa Malaysia, after grappling with accounting issues since May 2021. It had an impressive earnings track record until reporting irregularities eventually surfaced.
As a result of this and other misadventures by a few oil and gas companies, banks are shying away from funding the sector.
However, it came as a surprise that Yinson Holdings Bhd’s (KL:YINSON) latest financial results had caused anxiety and uncertainty among the analysts who cover the company’s stock. After all, with a market capitalisation of close to RM7.5 billion, Yinson is one of the more respected players and among the success stories in the local oil and gas sector.
One research house’s report on Yinson’s financials mentions “Using financial tools to boost equity returns” while a bank-backed research outfit says, “We have stripped off RM151 million EPCIC (engineering, procurement, construction, installation and commissioning) earnings in arriving at our core profit. We believe Street estimates may not be a good comparison as other analysts regard Yinson’s EPCIC earnings as core profit.”
Another research house notes that Yinson’s “IFRS accounting distortion is growing alongside its leverage”, which could lead to confusion among investors.
Although analysts who cover the company’s stock mostly have a positive view of Yinson, the group’s accounting policy or treatment for certain aspects of its operations can be disquieting.
Surely, Yinson can do better with its financial reporting.
23 hours ago
John,
Have a read on the agm minutes…some doubts have been answered regarding the debt/accounting standard
https://www.insage.com.my/Upload/Docs/YINSON/Yinson%20-%2031st%20AGM%20Minutes.pdf#view=Full
Also, investment risks are there or eve4ywhere for sure. The questions to ask is whether those Yinson built FPSO are real in nature or did the power plant up for running?
If you got so many doubts over here, suggested yourself to stay away from Yinson and move on…
20 hours ago
少来担心云升只要银行能贷款给他做更大的生意就没问题，不像Jaks這只烂股想和银行借钱都借不到那是多么的可悲 ! 也只能靠发私募发行股票来维持养命迟早這只股票会在股市消失到無影無踪 ！
20 hours ago
Referring to Yinson Bhd's FY2025 Q1 results, could management explain in detail the financial treatments
that have led some analysts to comment:
I. "Using financial tools to boost equity returns…"
II. "Stripping off RM 151 million EPCIC earnings to arrive at core profits…"
III. "IFRS accounting distortion is growing alongside its leverage…"
Reply:
Yinson has clarified the interpretation of the analysts. First of all, financial tools do boost equity returns. Every time Yinson refinances instead of getting equity much later, especially for non-recourse debt, Yinson brings back its returns earlier. When you bring cash flows earlier, financially your NPV goes up. It is not a financial tool, rather it is called “refinancing”. Refinancing allows Yinson to bring cash flows back to shareholders earlier, and to de-risk the project because it is non-recourse. It improves free cash flow, and that is how Yinson recycles its capital.
From the follow-up article, it mentioned how Yinson recycles capital. If you were to look at core profits and EPCIC returns, you would need to strip off the revenues and the profits from EPCIC and add back the interest incurred for the EPC. Yinson’s business model is EPCIC, Lease and Operate, where the finance lease accounting treatment based on IFRS has led to some distortion. Yinson will present operating lease accounting numbers alongside IFRS accounting numbers from next year onwards. 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.
20 hours ago
1. LAU CHUAN HOOI
May I know, what is the company's future outlook? Will the board consider giving door gifts as a token of appreciation?
Reply:
Yinson is optimistic about its direction. The FPSO market is thriving, with 12 new FPSO awards annually. To make a project successful, the company needs to know the outlook of projects available and have a suitable project team. Despite the capital-intensive nature of the business, Yinson successfully funds all its projects. Yinson also manages to tap into the private capital and bonds markets. With the FPSO Agogo project set for delivery by end-2025, EBITDA is expected to reach about USD 1 billion annually from 2026. Yinson is very optimistic about the outlook of the business growth and also the ability to pay shareholders dividends on a quarterly basis which Yinson started last quarter.
2. CHUA SONG YUN
Given the aggressive expansion, the nature of front-loaded costs for FPSOs, complex finance lease
accounting, and substantial negative operating cash flow due to new FPSO constructions, the market and shareholders may find it difficult to understand Yinson's value. With FPSO Atlanta, FPSO Maria Quitéria, and FPSO Agogo set to commence their charter periods in the next year or two, assuming no new FPSOs are added, could management present the projected free cash flow expected from the FPSO segment over the next 10 years? This would help shareholders better appreciate the company's value.
Reply:
Yinson does expect 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.
20 hours ago
Mike-tikus,
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
Mike-tikus you better sell your jaks and buy Yinson.
Yinson FCF USD 200 – USD 300 million 2026 onward while you need to wait till 2030 for jaks FCF to turn positive
20 hours ago
Hoho why Lambo is delisted on October 2024 since u used so many aka id to promote on 2020 !🤣🤔
—-
Posted by JediMaster1 > 31 minutes ago | Report Abuse
少来担心云升只要银行能贷款给他做更大的生意就没问题，不像Jaks這只烂股想和银行借钱都借不到那是多么的可悲 ! 也只能靠发私募发行股票来维持养命迟早這只股票会在股市消失到無影無踪 ！
19 hours ago
Hoho Konartist sslleee is Jaks below Ratios better than Yinson :
Yinson
Current Ratio 0.64
Debt-Equity (DE) Ratio 2.27
FCF Yield -10.24 %
Jaks
Current Ratio 1.04
Debt-Equity (DE) Ratio 0.64
FCF Yield 0.81 %
19 hours ago
Hoho Konartist sslleee why u shouting so happily that Yinson waves 2 is coming ?🤣🤔
Waves 2 is Downtrend le ! Shl be dropped until what Price ? Or lower high ? Or Lower Low ?🤣🤔
19 hours ago
Hoho Konartist sslleee said Jaks invested in RE Solar is no good .. the Returns is slow , cannot paid the Debt !🤣👉
—
Long Term investment in Renewables :
Yinson aims to allocate 30 % of its equity towards renewable n green assets by 2030 !
19 hours ago
Hoho Konartist sslleee know what is Current Ratio ? Oredi posted le .. still did not understand:
( to gauge working capital ratio within a year ）.
19 hours ago
Hoho FPSO Atlanta is initially to be commissioned by February 2024 … now 1st oil is delayed many times… still not yet 1st oil ? Why , technically issues ??😱
19 hours ago
Hoho so is worst than Jaks that the share of profit from Finance investing !
—
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.
19 hours ago
Aiyoyo Mike-tikus untill now still do not know jaks operating cashflow is negative and need to depend on free money from investors or shareholders with yearly PP or RI for working capital and loans repayment.
Still no bola to answer a simple question from Philip?
How many million shares of Jaks are you currently holding?
19 hours ago
Hoho hope is not like TDM .. New auditor on 2019 .. verified the mis-location issues .. 2019 in Huge Loss n verified 2018 from Profit to Loss !
18 hours ago
Hoho konartist sslleee why Phillippe still Promoted Serba even is announced in Account Fraud ? Same as u on Xingquin until is delisted ??
Forumers can learn from both of u buy what is not understand ?
Will Yinson be the another one per the news article ?
18 hours ago
Jaks
Period End Year End
30-Jun-2024 31-Dec-2023
RM'000 RM'000
Current Assets
Inventories 483 483
Contract assets 92,236 102,030
Trade and Other Receivables 421,135 417,625
Amount due from Joint Venture 10,291 10,291
Deposits placed with licensed banks 12,074 22,222
Cash and bank balances 31,955 41,803
568,174 594,454
Current Liabilities
Trade and Other Payables 457,827 476,105
Bank borrowings 59,894 68,200
Bank overdraft 5,877 5,911 -
523,598 550,216
With negative cashflow from operating activitives and year end impairment lose of receivables and contract assets.
Can jaks repay the current bank borrowing of RM 59,894,000?
More PP or RI coming?
18 hours ago
Hoho Konartist sslleee why u promoted Yinson as Growth stock ?
Yinson :
CAGR : 3Y 83% TTM. 31.9 %
Jaks :
CAGR : 3Y 29.9% TTM 28.4 %
18 hours ago
Hoho as Philip said why banks willing to Lend money to Yinson ? But USD loans with interest 12 % n 13.88 % .. is very high interest le !
Why so many Investors interested in Jaks PP … oredi issued 5 times PP le !
Why Hexcap n Binacom PP , no investors are interested le !
Why Yinson not partially raise funding by PP ???🤣🤔
18 hours ago
Hoho Repost … Konartist sslleee still half past 6 ke … own claimed FA n TA Guru here ?🤣🤣🤣🤔
Posted by Johnchew5 > 20 minutes ago | Report Abuse
Hoho so is worst than Jaks that the share of profit from Finance investing !
—
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.
18 hours ago
Jaks non current asset :
Investment in Joint Venture:
QR ended
> March 2016 = 128,297,000
> March 2019 = 197,171,000
> March 2020 = 362,479,000
> March 2021 = 601,150,000
( note : Profit from Construction of the Power Plant is ard RM 400 Million .. Final COD on January 2021 )
> March 2022 = 748,656,000
> March 2023 = 829,105,000
> September 2023 = 897,378,000
> December 2023 = 904,495,000
> March 2024 = 936,836,000
> June 2024 = 943 ,960,000
18 hours ago
Jaks Annual Revenue and Net Profit / ( Loss ) :
1.) FYE2020 : RM 259.4 million with Loss ( RM 80.5 Million. )
2.) FYE2021 : RM 109.7 million with Net Profit RM 51.9 million. ( Vietnam Joint Venture Power Plant 1200 MW with EPCC RM 8.7 billion is COD on January 2021 )
3.) FYE 2022 : RM 89.8 million with Net Profit RM 53.5 million.
4.) FYE 2023 : 1st Half Revenue RM 17.47 million with Net Profit RM 33.19 million.
>>👉 1QR is Profit RM 14.08 million , 2QR is Profit RM 19.11 million , 3QR is Rm 7.15 million…4QR is Loss ( 24.8 million )
👉👉 Rm 37.787 million with Net Profit RM 15.527 million..
5.) FYE 2024 :
>> 👉1QR : RM 14.2 million with Net Profit RM 12.4 million.
>> 👉2QR : RM 13.1 million with Net Profit RM 8.4 million.
( Note : Vietnam Power Plant Joint venture company is 30 % .. an associate company) .
18 hours ago
Hoho worried hidden risks on Yinson QR ended April 2024 n July 2024 :
>QR ended April 2024 , Net Profit RM 203 million- RM 236 million ( increased of Loans n Borrowings) = - RM 33 million.
>> QR ended July 2024 , Net Profit RM 203 million- RM 3,025 million ( increased of Loans n borrowings) = - RM 2,822 million.😱
-
Yinson Loans n Borrowings:
3.) QR ended July 2024
RM 19,580 million
👉Compared Q to Q : is increased by RM 3,025 million.
2.) QR ended April 2024
RM 16,555 million.
👉Compared Q to Q : is increased by RM 236 million.
1.) QR ended January 2024
RM 16,319 million.
18 hours ago
Hoho u mean Konartist sslleee ke … bought Jaks on 2017 … sold on April 2023 !🤣
—
Posted by JediMaster1 > 4 minutes ago | Report Abuse
只有比猪还笨的人才会看上Jaks☠️☠️☠️
18 hours ago
Hoho Konartist sslleee posted is expert in IFRS ???
—
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.
18 hours ago
Aiyoyo,
It mean Mike-tikus or John-pig.
Me had been trading jaks for my free bintang beer many time only Mike-tikus or John-pig pasar malam TA told him jaks 18 floor is bottom and thus buy all the way up to 24 floor. Now trapped for one and a half year and had to go every forum to promote jaks 24/7/365 non-stop to no avail.
So now no more facts and figures only slander Mike-tikus or John-pig?
18 hours ago
Mike-tikus/John-pig still no bola to answer a simple question from Philip?
How many million shares of Jaks are you currently holding?
18 hours ago
Hoho the Konartist Kon gang :’
1.) Conartist Callvin : said here Bodo editor ( financial) , Bodo Remisier n Bodo ppl during Promoting Netx !
2.) SCIB promoting partner Koni3lurkker, half way changed name to Balia … said here Pariaaa country, ppl n food !
3.) Ularsawa ( ori id Dragonslayer in Netx n Sumatec , is banned permanently) .
KonartistLee used to shout “ 🐍sawa come to X forum to rescue him “
Also is one of the 3 member of Kacukan Tippu whom Tippu telegram newbies membership fees RM 100 !😱
4.) TinKosong KonpetHuang .. used aka similar n abusive id to post abusive n unethical comments!
The aka id MrHuangbk is banned permanently at recently !👍
5.) Konartist Abang Stockraider in Netx n Insas wayang .. after cursed forumers family in Bjcorp forum , n always cursed Netx forumer Dive into Sg Klang … oredi Missing in Action liaw … the curse arrow U-Turn shot on him … karma le !
6.) Income whom posted wifeyy ran away with forumer …said is BlowerPhang younger sibling wow !🤔
7.) Kon gang in Tunepro , Netx , Pasukhas, Hengyuan, Petronm : Probability aka Victoryong n Good123 … will post n delete own posts !
18 hours ago
Hoho why promoted Lambo since 2020 until is delisted on October 2024 .. using so many many aka id : listed 3 of them only : Alibaba / Scenery / Jedi1985 .. you had been slaughtered as piggg how many times ???🤣🤔
—-
Posted by JediMaster1 > 1 minute ago | Report Abuse
Sslee 是个智者 ！ 在这里只有John - pig 才是头猪广東說猪甘蠢就是你John 🐖🐖🐖
18 hours ago
I don’t know who is Sslee 是人是鬼明眼人一看都知就只有你這白痴才会去說一只多么烂的Jaks是多么的好那你就去发你白日梦吧 ！
18 hours ago
Mike is an interesting person
i have never seen one like Mike in my life
i3 is the place to learn
Everything
13 hours ago
Without Mike and SSLee, it is like a movie without quarelling or fighting, and it will be boring. 🤣
13 hours ago
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JediMaster1
Very sure you and Jaks will bankruptcy at the same time !!!
2 days ago