Quick take: Yinson slides after Petrobras postpones project

Maybank Research downgraded Yinson to Hold and cut the target price to RM5.45. The previous target price was RM7.20.

KUALA LUMPUR: Yinson’s share price fell to a low of RM4.88 in early Monday trade after Petrobras has decided to postpone the Parque Das Baleias (PDB) project by one year, pushing back the first oil production to 2024.

At 9.21am, it was trading at RM5, down 43 sen. There were 1.40 million shares done.