Yinson recently completed the divestment of our offshore marine business, Regulus Offshore, to Lianson Fleet Group Bhd (“LFG”, formerly known as ICON Offshore) on 31 January 2025. The timely corporate transaction aligns with our strategic direction to focus on our FPSO and energy transition businesses.

The transaction was approved by LFG’s shareholders at the Extraordinary General Meeting (EGM) held on 27 January 2025, following the binding term sheet signed on 30 August 2024. The transaction, valued at RM160 million was satisfied via the issuance of new ordinary shares by LFG at an issue price of RM0.88 per share. The transaction provides Yinson with a minority stake and board seat in LFG, allowing us to participate in the future growth of LFG.

Yinson’s Group Chief Financial and Strategy Officer, Chai Jia Jun shared his perspective on the divestment, “By unlocking value from one of our profitable legacy businesses, Regulus Offshore, we are positioned to ride the strong demand cycle in the OSV market while focusing on our energy infrastructure businesses. We look forward to our continued partnership with LFG and the exciting opportunities that lie ahead for both companies.”