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Google_Yinson 1Q net profit rises to RM120mil

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,Commenting on its prospect, Yinson said it is well positioned to face the uncertainties with robust risk and internal control management in place and the current implementation of robust cost control management.

KUALA LUMPUR: Yinson Holdings Bhd’s net profit for the first quarter ended April 30, rose to RM120mil versus RM112mil chalked up in the same period a year ago, Bernama reported.

Revenue for the quarter under review jumped to RM1.01bil as compared with RM992mil previously, the company said in a filing with Bursa Malaysia yesterday.

Commenting on its prospect, Yinson said it is well positioned to face the uncertainties with robust risk and internal control management in place and the current implementation of robust cost control management.

“We will continue to apply measures to prudently manage inflation risk including hedging, effective forecasting, diversification of costs across geographical markets, factoring inflation risk into our contracts and strategic management of our inventories,” it added.

Yinson also reiterated that 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.


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