KUALA LUMPUR: A group of shareholders is nearing an agreement to take Yinson Holdings Bhd
private, according to people with knowledge of the matter, in a deal that could value the Malaysian energy infrastructure company at about RM8bil.
The Lim family, which established Yinson in the 1980s and is its biggest shareholder, plans to team up in a joint bid with infrastructure-focused investment firm Stonepeak Partners and some local pension funds that are already shareholders in Yinson, the people said.
Talks are advanced and a deal may be announced as soon as the next couple of weeks, the people said, asking not to be identified because the process is private.
The group aims to buy out the Kuala Lumpur-listed firm via a scheme of arrangement, also known as court-approved agreement, as that improves the chances of a deal going through, they said.
Deliberations are ongoing and there’s no certainty that the parties will proceed with a buyout, the people said.
Representatives for the Lim family and Stonepeak declined to comment. Yinson didn’t respond to requests seeking comment. Bloomberg News reported in June that New York-based Stonepeak was teaming up with the Lim family for a buyout of Yinson.
The Lim family owned 27.7% of Yinson as of the end of February, according to the company’s website. The Employees Provident Fund and Kumpulan Wang Persaraan (Diperbadankan), hold 17.1% and 7%, respectively.
Yinson started out as a transport and logistics firm and has since diversified into energy infrastructure, renewables and technology.
Meanwhile, RHB Research in a report said it remains upbeat on Yinson, amid evolving market dynamics.
The research house noted its standpoint is underpinned by a growing base of recurring floating production, storage and offloading (FPSO) charter income and a strong US$19.5bil backlog, which in turn, should provide long-term earnings visibility.
“While reported earnings may remain volatile due to foreign exchange and mark-to-market movements, the underlying profitability is expected to strengthen further with full-year contributions from FPSO Agogo from financial year 2027 (FY27) onward,” it stated.
However, according to the research unit, Yinson recorded a shortfall in revenue for FY26 of RM5.4bil, down 28% year-on-year (y-o-y).
It said the group’s underperformance was mainly attributed to lower contributions from engineering, procurement, construction, installation, and commissioning following the commencement of charter periods for FPSO Maria Quitéria, FPSO Agogo and FPSO Atlanta. — Agencies
