Latest news with #RM2.93
The Star
2 days ago
- Business
- The Star
Yinson rises on news of Stonepeak's potential buyout offer
KUALA LUMPUR: Shares of Yinson Holdings Bhd continued to rise in early trade Monday following news of a potential buyout, drawing sustained interest from investors. The oil and gas services firm climbed two sen to RM2.36, with 10.14 million shares traded as of 10.52 am. Year-to-date, the stock has declined about 9%. New York-based Stonepeak Partners is reportedly in exclusive talks for a buyout of Yinson, potentially valuing the firm at up to RM9bil (US$2.1bil), Bloomberg reported, quoting sources familiar with the matter. This could be one of the largest deals in Malaysia this year. ALSO READ: Stonepeak is said in exclusive talks for buyout of US$2.1bil Yinson CIMB Securities said that if the report is accurate, it could potentially lead to a privatisation offer for the remaining Yinson shares. It noted that the market responded positively, with Yinson's share price rising 13.8% on June 6 — its biggest gain since June 2019. The jump narrowed the stock's year-to-date loss from 33.7% to around 11.4%, lifting Yinson's market capitalisation to approximately RM6.5bil. "In our view, the exclusivity arrangement indicates that the deal has entered advanced stages of negotiation, with the Lim family, which is Yinson's founder, holding a 26.6% stake," it said. It added that the deal would also help Stonepeak expand its exposure in Asia Pacific energy infrastructure, where Yinson has already established a solid and growing footprint. CIMB noted that the implied valuation of about 9.5 times FY24 P/E, based on a RM9bil market capitalisation, is at a premium to the 8.2 times average FY24 P/E of Malaysia's leading independent floating production, storage, and offloading (FPSO) operators, SBM Offshore and Modec, which currently trade at P/Es of 4.8 and 11.6 times, respectively. 'In our view, this valuation appears justifiable, underpinned by Yinson's robust project backlog of US$20.5bil and its active portfolio of 8 FPSO contracts. Yinson's growing presence in emerging markets further supports this premium, positioning it for long-term structural growth. 'Furthermore, Stonepeak is expected to price in the strategic value of Yinson's expansion in FPSO contracts, particularly following Yinson's proactive steps to strengthen its financial capacity, including securing US$1bn in funding for its FPSO unit in Jan 2025 from a consortium of institutional investors; and growth in energy transition segments, including its solar and battery storage initiatives,' the research house said. CIMB has reaffirmed its FY26–28F EPS forecasts, buy rating, and sum-of-parts target price of RM2.93.
The Star
04-05-2025
- Health
- The Star
Laos and WHO in partnership to eliminate snail fever among children
PHNOM PENH: The World Health Organisation (WHO) and Lao Health Ministry will spend RM5 million (US$1.18 million) to eliminate the parasitic disease schistosomiasis that has been affecting thousands of children in the landlocked country. Authorities will implement several measures over the next two years to interrupt schistosomiasis transmission to achieve zero cases of new locally transmitted infections in snails, animals, and humans, according to a WHO Laos media release. Schistosomiasis, or snail fever, is transmitted by parasitic worm-infected snails living in contaminated water. Symptoms of the tropical disease include stomach pain, enlarged liver, and blood in the urine or stool. Left unchecked, it can even cause infertility or bladder cancer, said WHO. The activities will be jointly funded by the China Global Development and South-South Cooperation Fund (GDF) and the Swiss Agency for Development and Cooperation (SDC). "Schistosomiasis has been a persistent challenge for many years. Despite our efforts to prevent transmission and eliminate schistosomiasis, the disease continues to affect thousands, especially children. "This new funding and collaboration will enhance our capacity and enable us to intensify our control measures and move closer to elimination,' said Lao Health Minister Dr Bounfeng Phoummalaysith. According to WHO, schistosomiasis impacts almost 240 million people worldwide. In Laos, the disease affects about 120,000 people in Champasack Province's Khong and Mounlapamok districts across 202 villages. Most school-aged children are at risk, said the statement. China's GDF will provide RM2.93 million (US$680,263) and SDC will channel RM2.16 million (US$500,590) for the project. "Schistosomiasis is an unwelcome health risk causing a range of tragic health impacts - one that we are close to eliminating. Sustained investment and commitment have meant that less than one per cent of people living in high-risk locations are infected. "But with children and adults risking infection through poor hygiene, farming, and outdoor and recreational activities, the risk to health and further transmission remains,' read the WHO statement, citing its representative in Laos, Dr Tim Armstrong. - Bernama
