KUALA LUMPUR: Yinson Holdings Bhd, which posted a net profit of RM65mil in the fourth quarter ended Jan 31 (4Q22), has declared a final single-tier dividend of 2.0 sen per share.

       The energy infrastructure group said the proposed dividend is subject to shareholders’ approval at the forthcoming annual general meeting.

       If approved, the entitlement date and payable date for the dividend would be Aug 4 and Aug 30 respectively.

       Yinson’s revenue in 4Q22 stood at RM741mil, down 9.6% from RM820mil recorded in the preceding quarter.

       The decrease was mainly due to scheduled lower progress in engineering, procurement, construction, installation and commission (EPCIC) business activities, i.e. the FPSO Anna Nery conversion.

       Its pre-tax profit in 4Q22 fell 6.6% or RM11mil to RM155mil as compared to the RM166mil in the preceding quarter.

       Yinson said the decrease was mainly due to lower contribution effect from EPCIC business activities, fair value losses on other investments of RM29mil and higher financing costs of RM16mil mainly arising from the draw-down of the RM1bil Sustainability-Linked Sukuk in December 2021 and one-off cost incurred for early refinancing of the existing loans for the renewables segment, which were partially offset by an increase in other income of RM46mil.

       For the full financial year ended Jan 31, Yinson posted a net profit of RM401mil, up 27.3% from RM315mil a year ago.

       Its revenue, however, was 25.6% lower at RM3.6bil against RM4.85bil a year prior.

       Commenting on its prospects, Yinson said it would continue to apply measures to prudently manage inflation risk including hedging, effective forecasting, diversification of costs across geographical markets, factoring inflation risk into its contracts and strategic management of its inventories.

       “As an energy infrastructure and technology provider with a solid leadership position in sustainability, the management is confident of the group’s ability to stay resilient amidst the rising global economic challenges with its underlying risks.

       “We believe we can achieve satisfactory results for the financial year ending Jan 31, 2023,” Yinson said.