PETALING JAYA: Yinson Holdings Bhd
has delivered a higher net profit of RM120mil in the first quarter of its financial year 2027 (FY27) as compared to RM115mil in the same quarter previously, mainly due to operational contribution from the Agogo floating production, storage and offloading (FPSO) vessel.
The improved profit was partially offset by a lower share of results from joint ventures and associates.
Quarterly revenue fell 15% to RM1.05bil from RM1.23bil in the previous corresponding quarter, mainly due to absence of engineering, procurement, construction, installation and commissioning activities, based on progress of construction.
“We delivered a steady performance in the first quarter of FY27, supported by long-term contracted revenues, a fully operational fleet, strengthened financial resilience, and a diversified platform across offshore production, renewables and green technologies,” said group executive chairman Lim Han Weng in a statement.
During the quarter, the group established Yinson Production’s Shanghai office to support project execution and client engagement, and celebrated the keel-laying of FSO for Block B, which signals the start of construction, and celebrated the naming of FSO PTSC Lac Da Vang.
Meanwhile, Yinson GreenTech introduced 300 eDeliver 5 electric vans to the market in collaboration with Weststar Maxus and SAIC Maxus, accelerating EV adoption in Malaysia’s commercial sector.
The board of directors declared an interim dividend of two sen per share with the entitlement date on Aug 28, 2026, and payable on Sept 18, 2026.
