Disclaimer: This article is in no way financial advice, nor solicitation to buy or sell shares in this company. It is purely for educational purposes only. You are highly recommended to conduct all necessary due diligence and make your own informed decisions before making any financial decisions. The writer already owns shares in this company and may at any point in time increase or reduce their position without prior notice. Do not try to copy trade!

I have been covering Yinson for a long time, so if you are interested about the company, I welcome you to read my previous articles on them to have a better understanding of the company and their business here: https://www.doitduit.com/archive?tags=Yinson

In my articles, I repeatedly mentioned that once all their major FPSO projects are completed, especially the largest FPSO Agogo, we would start to see significant cash inflows. True enough, we are starting to see that happening in the latest quarter with 1 full quarter of FPSO Agogo Operations.

Without wasting much time, let’s quickly go through the quarterly report and highlight any key observations that are not purely in the Bursa Announcement.

Quarter Report and FY2025 Review

At a glance, the Revenue and Profit trend would seem concerning, where revenue declined from about RM11.6 bil at the peak in 2024 to a low of RM5.4 bil in 2026 and net profits declined from about RM960 mil to RM680 mil in the same period.

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