KUALA LUMPUR: Lianson Fleet Group Bhd (LFG) has proposed to dispose of Icon Azra (vessel) to P&O Maritime Offshore AHTSV FZE for US$6.9mil (RM30.73mil) cash.
In a filing with Bursa Malaysia, LFG said its indirect wholly-owned subsidiary, Icon Azra (L) Inc. entered into a memorandum of agreement (MOA) for the proposed disposal to P&O Maritime Offshore.
The vessel is a Malaysian-flagged DP-1 Anchor Handling and Supply Tug (AHTS), built in 2013, with a deadweight tonnage of 1,374 tonnes and a static bollard pull of 65 tonnes.
LFG said the vessel was acquired in June 2013 at a cost of RM49.26mil, and its net carrying value as of March 31, 2025 was RM21.8mil.
“The proposed disposal is part of LFG’s ongoing fleet rejuvenation efforts to modernise and replace its fleet in line with the evolving market demands of the oil and gas industry.
“This also aligns with LFG’s rebranding and long-term strategy to diversify from being a pure-play offshore support vessel (OSV) player into other vessel asset classes, supporting our pivot towards new markets and strengthening our long-term growth and operational flexibility,” LFG said.
It added that the proposed disposal of approximately RM8.01mil is expected to contribute positively to LFG’s earnings, net assets, and gearing for the financial year ending Dec 31, 2025.
