Equity Analysis /

MY : Yinson Holdings Bhd - Multiple FPSO projects, multiple upsides

    Raymond Yap
    Raymond Yap

    Head of Regional Transport

    30 March 2022
    Published byCGS-CIMB

    FY22 core net profit was in line at 2% above our forecast (7% above street). Reiterate Add with slightly lower SOP-based TP of RM7.91, as Yinson is building the foundations of a multi-year growth story. The downtrend in earnings could reverse by the May-Jul 2022F quarter.