• 😍 As low as RM0.73/day to unleash the full potential of your stock investment!!!
  • 😍 As low as RM0.73/day to unleash the full potential of your stock investment!!!
Subscribe Now
premium Subscription Plan
add free StockBiz
YouTube Video Tutorials
Forum   New Topic
1
YINSON (7293) : YINSON HOLDINGS BERHAD
WinningBookie
Member Star
Posts: 126
Joined: Feb 2012		 21 Dec 2012, 10:40 AMPost #1
This company is rising! You may take a look!! rolleyes
WinningBookie
Member Star
Posts: 126
Joined: Feb 2012		 22 Dec 2012, 04:50 PMPost #2
Yinson Holdings - Approaching the Harvest Year 2013
Date: 21/12/2012

Source : MAYBANK
Stock : YINSON Price Target : 2.54 | Price Call : BUY
Last Price : 2.05 | Upside/Downside : +0.49 (23.90%)


Earnings to soar with FSO contract commencement. We expect 3QFY1/13 results to be in line though sequentially softer QoQ. However, Yinson’s FY1/14 earnings are expected to surge by 74% YoY as the earnings from its 49% owned FSO kick in, boosted further by front-loaded charter payments. We maintain our forecasts which have an upside bias for FY1/14, while FY1/15 will benefit from its FPSO’s contribution. We reiterate our BUY call and MYR2.54 SOP-based TP.

Likely to see temporary weakness in 2HFY1/13. We expect the next two quarters of FY1/13 (3Q and 4Q) to be sequentially weaker as earnings will be weighed down by seasonally slower trading profits as well as higher administrative and interest costs from the FPSO equity contribution bridging loan (pending an expected fund-raising exercise). 3QFY1/13 net profit should be in the range of MYR7-8m, down 19-29% QoQ. This would take 9M earnings to MYR26-27m, making up 83-87% of our MYR31.8m forecast. 4Q would be further impacted by higher administrative costs (e.g. staff bonuses, claims etc.). This is in line with our expectation and we make no change to our forecasts.

But, to surge 74.4% YoY in FY1/14. Yinson’s FY1/14 net profit is forecast to rise to MYR55.5m (from MYR31.8m in FY1/13). This surge in profits stems from an estimated MYR21.5m in JV earnings, the bulk of which will be from its 49% stake in the FSO Bein Dong. The FSO is expected to begin contributing in 1Q. Profits will be especially strong due to: i) its front-loaded payment structure and ii) payments beginning in Mar 2013 upon the FSO’s early completion. We forecast FY1/15 net profit to rise to MYR92m as Yinson enjoys a full year’s profit from FPSO Lam Song, construction of which is on schedule.

Maintain BUY. Yinson trades at just 7x one-year forward PER despite offering investors a sterling 58% 3-year earnings CAGR anchored by its medium- to long-term contracts. While we feel the company may need some time to consolidate its finances, the successful execution of its two current projects bodes well for its resume as a floating solutions project manager, strengthening its track record for future bids.

Source: Maybank Research - 21 Dec 2012
WinningBookie
Member Star
Posts: 126
Joined: Feb 2012		 27 Dec 2012, 12:44 PMPost #3
This counter is waking up...buy now before it's too late! :)
WinningBookie
Member Star
Posts: 126
Joined: Feb 2012		 27 Dec 2012, 10:23 PMPost #4
KUALA LUMPUR, 27 December 2012– Malaysia’s premier integrated offshore services provider, YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”) today announced a revenue of RM192.5 million and a profit after tax (“PAT”) of RM9.33 million for the quarter ended 31 October 2012 (“3QFY2012”) or translated earnings of 4.34 sen per share. According to its Bursa filing today, the Company recorded a total revenue of RM692.0 million and a profit after tax (“PAT”) of RM29.0 million year to date for the period ended 31 October 2012, representing a 26% and 40% increase respectively, compared to its preceding year corresponding period.

Research houses, namely Maybank and Kenanga Research are forecasting Yinson to deliver a PAT of RM32.0 million and RM31.0 million respectively. With the cumulative PAT of RM29.0 million year to date, the Company is confident in achieving these forecasts.

In terms of the Company’s segmental income, all segments namely Transport, Marine and Trading has seen its revenue increase by 28%, 26.7% and 26%, respectively for the quarter ended 31 October 2012 compared to it preceding year corresponding quarter.

The Company’s Floating Production Storage, and Offloading Facility (“FPSO”) contract that was secured in June 2012, a joint venture with PetroVietnam Technical Services Corporation (“PTSC”) with a total contract value of USD737.30 million (approx. RM2.35 billion) is confirmed to be on track to its expected delivery schedule for FY15.

“2012 to date has been an exciting and progressive year for us, especially for our marine segment which has been delivering strong positive growth and financial results quarter on quarter. With that said we will remain prudent on our strategies and project tendering in order to keep ourselves on the right track of positive development and growth.” commented Mr. Lim Han Weng, Chairman and Managing Director.

Recently on the 6 December 2012, Yinson announced that its wholly-owned subsidiary Yinson Vietnam Company Ltd. had entered into a 49% equity Joint Venture with Yen Son Transport in Vietnam forming Yen Son Diversified (“Yen Son”). Yen Son is to undertake the investment of the construction of two (2) warehouses (“Warehouses”) at PTSC Phu My Port in Vung Tau, Vietnam. (Yinson holds 40% equity interest in PTSC Phu My Port). The estimated construction cost of the Warehouses is approximately RM26.09 million with expected commencement date of its construction posted for the 31 January 2013. The above named JV Yen Son will construct, own and operate the Warehouses for a period of sixteen (16) years with an option to extend for another ten (10) years.

PTSC is principally involved in the production and trading of petroleum products, materials and equipment. Its parent company, PetroVietnam is a 100% state owned entity that is authorised to deal with all petroleum related matters in Vietnam.
WinningBookie
Member Star
Posts: 126
Joined: Feb 2012		 28 Dec 2012, 07:35 PMPost #5
Yinson's 49% PTSC raises US$300m loans to convert FPSOLatest News

KUALA LUMPUR: Yinson Holdings Bhd's 49% owned PTSC Asia Pacific Pte Ltd has raised up to US$300mil to fund the conversion of the floating production storage and offloading system (FPSO).

Yinson said PTSC, in which PetroVietnam Technical Services Corporation owns the other 51%, had on Friday completed the signing of a senior secured loan facility with Singapore's Oversea-Chinese Banking Corporation Ltd and United Overseas Bank Ltd.

The conversion of the FPSO was necessary under its engineering, procurement, construction and installation contract and a bareboat charter contract, valued at US$733mil (RM2.21bil).

Yison said upon delivery of the FPSO, the vessel would be chartered to Lam Son Joint Operating Company. Lam Son is jointly owned by Petro Vietnam Exploration Production (PVEP) 50% and Petronas Carigali Overseas Sdn. Bhd (PCOSB) 50%.
WinningBookie
Member Star
Posts: 126
Joined: Feb 2012		 03 Jan 2013, 10:34 AMPost #6
Buy this share is much better! The target price would be RM2.54 thumbup
LCCHONG
Member Star
Posts: 385
Joined: Jan 2014		 02 Feb 2015, 11:14 PMPost #7
https://lcchong.wordpress.com/2015/02/02/yinson-ghana-fpso-project/
i4value
Member StarMember Star
Posts: 590
Joined: Aug 2020		 14 Oct 2023, 09:21 AMPost #8

Oil prices are uptrending? So will this benefit Yinson? For the past few years, despite the high crude prices, the ROE of Yinson has been around 10% per annum. So this is not an oil and gas company like Shell but a provider of facilities in the oil and gas sector. So I don't expect it to benefit with the coming higher oil prices
i4value
Member StarMember Star
Posts: 590
Joined: Aug 2020		 24 Jan 2024, 09:54 AMPost #9

I have a quick and dirty way to assess whether a company has strong fundamentals by comparing its ROE trend with one where I have done a detailed fundamental analysis.

An example is comparing the ROE trend of Yinson with my reference oil and gas company – Deleum. I consider Deleum as one with good fundamentals. You can see that Yinson falls into the good fundamentals category.

 

But when you look at the market price, it is trading at PE 11 and PBV of 1.4. Compared to its price trend, the current price is not peak.  It is not expensive but not exactly cheap either.

 

If you follow Buffett “wonderful company at fair price” investment philosophy, then Yinson could be in this category.

 

But if you are a cigar butt investor or looking for deep under valued stocks, I am not sure Yinson fits the bill.
Forum   New Topic
1

yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry

Login Required
Login required to unlock information below.
Login Now | Free Registration

Close
New Feature
MS Academy
MS Support
Thanks for your interest to subscribe our plan.

Please feel free to contact us at 016-237 8521 if you have any question regarding to our subscription plan.
AI StockMaster. Beat The Market! Checking MS Signal
DETECT REAL-TIME STOCK MOVEMENT
 X
(InvestorPro Plan Only)
Complimentary access on Premium Plan*
What is AI StockMaster?
Window Alert On-Screen Alert X
X