Yinson’s Q1 earnings, revenue higher

Yinson chairman Lim Hang Weng (file pic) said despite the challenging environment due to the pandemic, the group saw a strong financial, operational and project performance in Q1 of its financial year ending Jan 31, 2022 (FY22), alongside expansion of its business areas.

PETALING JAYA: Yinson Holdings Bhd’s net profit for the first quarter ended April 30, 2021 (Q1) jumped to RM112mil from RM47mil in the same period a year earlier, driven mainly by the engineering, procurement, construction, installation and commission (EPCIC) segment.

In a filing with Bursa Malaysia yesterday, the company said the strong contribution from the EPCIC business activities was related to the floating production, storage and offloading (FPSO) Anna Nery and contribution from FPSO Abigail-Joseph, which commenced its lease in October 2020.