KUALA LUMPUR, June 23 — Yinson Holdings Bhd has secured A1/stable and A+/stable ratings from RAM Rating Services Bhd and Malaysian Rating Corporation Bhd (MARC) respectively, on the back of its strong business profile.

Yinson said both MARC and RAM Ratings opined that it has earnings stability and healthy profit margins following its capability to secure recurrent sizeable long-term floating production storage and offloading (FPSO) contracts.

The group has long-term contracts of up to 25 years, with its order book at US$9.74 billion (RM40.5 billion) as at end of March 2021.

“The rating agencies also took into account that Yinson’s contractual revenue is unaffected by crude oil prices, with robust contract terms built in to ensure adequate compensation should termination occur,” it said in a statement today.

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In addition, Yinson has demonstrated timely FPSO deliveries and cost containment during the construction period, achieving operational uptime of above 99 per cent in the last five years.

Yinson group chief executive officer Lim Chern Yuan said despite the unprecedented pandemic, its business remains buoyant and is well equipped to deliver stronger earnings through the contributions of its business divisions.

He said Yinson’s renewables division is aiming to secure an operating portfolio of 5 to 10GW in 10 years, and its green technology division has set a goal of creating a digital ecosystem of green energy supply.

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“With firm financial fundamentals in place as reflected by strong credit ratings, we are positively poised to reach these goals,” said Lim. — Bernama