Yinson Annual Report 2019

PROJECT UPDATES Despite the challenging operational environment in the oil and gas industry, Yinson successfully secured two contracts amounting to a total of USD1.48 billion (approximately RM6.03 billion). The awards were from JX Nippon Oil & Gas Exploration (Malaysia) Limited (“JX Nippon”) and First Exploration & PetroleumDevelopment Company Limited (“FIRST E&P”) respectively. With these two contracts, the Group now has a firm order book of USD4.88 billion as of 31 March 2019, which will keep us going up to 2037. Growth in Yinson’s market capitalisation over the past 10 years DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC 2008 1000 2000 3000 4000 5000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 37.7 43.2 69.9 156.7 430.8 1740.3 2778.2 3201.9 3144.9 4407.2 4543.1 Source : Bloomberg RMmillion Despite the challenging operational environment in the oil and gas industry, Yinson successfully secured two contracts amounting to a total of USD1.48 billion (approximately RM6.03 billion). FYE 2019 has been intensive with a high level of bidding activities, utilising most of the available resources on a continuous basis. In line with our business strategy, we have been focusing our bidding activity on projects which best match our strengths, with factors such as the location and solidity of the project (for example, sufficient field hydrocarbon resources), client profile and the overall risk and reward involved being key considerations. This year, Yinson firmly established our intention to enter into the Brazil market, with a dedicated team focusing on the three tenders for the Marlim 1 & 2 and Parque das Baleias FPSOs. In addition, the Group focused significant effort to bid on Aker Energy’s Pecan Project in Ghana which is a continuation of the FEED originally initiated by the previous operator. All four FPSO contracts mentioned above are expected to be concluded in FYE 2020, and we look forward to sharing the outcomes of these bids with you. Our business development activities in FYE 2020 will strongly depend on the outcome of the four FPSO contracts that we have participated in. Management Discussion and Analysis Yinson Holdings Berhad ANNUAL REPORT 2019 32