Yinson profits climb on FPSO, engineering projects 

KUALA LUMPUR: Yinson Holdings Bhd, an independent FPSO leasing company, posted a net profit of RM67mil on revenue of RM1.25bil in the final quarter ended Jan 31, 2021 (Q4FY21).

For the full year, net profits surged 50% to RM315mil, or 29.5 sen a share.

The group, in a filing with Bursa Malaysia today, said its results were underpinned by increased contribution from its engineering, procurement, construction, installation & commissioning (EPCIC) business, full year operation contribution from FPSO Helang and fresh contribution from FPSO Abigail-Joseph lease commencement in the fourth quarter.

Yinson has declared a final dividend of 2 sen a share, bringing its full year payout to 6 sen a share.

"The long term outlook for the oil and gas industry remains challenging, as the emergence of new alternative energy sources and financial institutions risk appetite changes towards the industry," Yinson said.

"The Management is cautiously confident in the Group’s ability to stay resilient through the challenges with existing order books and continued positive performance in project execution and operations," it added.

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Yinson , FPSO


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