Building the foundation for a stronger future
■ 1QFY1/22 core net profit of RM81m made up 16% of our full-year forecast
(25% of consensus), below expectations due to higher expensed interest.
■ Despite the modest results, we reiterate Add as Yinson is looking forward to
an active FPSO market, and concurrently pursuing many renewable projects.
■ Our SOP-based target price is raised slightly to RM6.18 (Ke: 8.3%).