Yinson surges 14% on RM9bil buyout news
US-based Stonepeak Partners is holding 'exclusive talks' with the family of Yinson founder Lim Han Weng. (Facebook pic)
PETALING JAYA : Yinson Holdings Bhd shares surged today on news a US investment fund is in talks for a buyout of the oil and gas services provider, potentially valuing it as much as RM9 billion.
Its shares jumped as much as 29 sen or almost 14% to RM2.39 this morning, its highest level in five months. At the midday break, a total of 9.5 million shares changed hands.
The counter pared its gains in the afternoon session and was trading at RM2.29 at 3.40pm, valuing the group at RM7.05 billion. Before today's run-up, Yinson shares have fallen about 17% year to date.
Investors snapped up the stock after Bloomberg reported today that US-based Stonepeak Partners is holding 'exclusive talks' with the Lim family, which holds a 26.6% stake in Yinson, to take the company private.
The Bloomberg report quoted sources with knowledge of the matter. Yinson has yet to comment on the purported deal.
The RM9 billion proposal translates to about RM3.23 per share, a premium of about 37.5% over today's midday price of RM2.35, and 54% over yesterday's RM2.10 closing price.
Of the 10 research houses covering Yinson, all have 'buy' calls with an average 12-month target price of RM3.54.
From lorry company to global player
Yinson was founded by its executive chairman, Lim Han Weng, 72, and his wife, Bah Kim Lian, in 1984, as a lorry transport company before diversifying into the oil and gas sector.
In 1996, Yinson went public and continued to expand its global presence. It is now one of the world's biggest providers of floating production, storage, and offloading (FPSO) vessels, which are used to extract and store crude oil.
Forbes lists Han Weng and his family's net worth at US$480 million (RM2.03 billion) as of April 16.
His son, Chern Yuan, is the group's CEO while another son, Chern Wooi, is executive chairman of listed Lianson Fleet Group Bhd (formerly Icon Offshore Bhd), which was acquired in 2024.
The company has US$21 billion (RM88 billion) worth of leasing contracts extending till 2048, according to Forbes.
Yinson is also in the business of producing renewable energy and building electric vehicle charging networks.
For the financial year ended Jan 31, 2025, the group posted a net profit of RM752 million, down 22% year-on-year, while revenue fell 38% to RM7.6 billion from RM11.65 billion a year earlier.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
4 hours ago
- Malay Mail
Ringgit eyes stability next week as markets await US CPI, PPI
KUALA LUMPUR, June 7 — The ringgit is likely to trade around RM4.22 to RM4.23 next week, said an analyst. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said that next week multiple United States (US) economic data will be out, namely the US Consumer Price Index (CPI) and Producer Price Index (PPI) for the month of May which plays a key role in shaping the market. 'While the data might show deceleration in inflation rate, the US Federal Reserve is likely to stay cautious as it is wary about the potential inflationary pressures arising from the tariff shocks. 'Already, responses from the US Institute for Supply Management (ISM) Index survey indicated that businesses have become more pessimistic as the higher tariffs have affected the supply chains and resulted in higher operating costs,' he told Bernama. The ringgit ended the week higher against the US dollar, closing at 4.2270/2360 on Friday from 4.2530/2605 a week earlier. The local note traded mostly higher against a basket of major currencies. The ringgit rose vis-à-vis the Japanese yen to 2.9324/9390 from 2.9531/9585 and inched higher against the British pound to 5.7212/7334 from 5.7284/7385 a week earlier. However, it depreciated versus the euro to 4.8268/8371 at Friday's close from 4.8169/8254 at the end of last week. The ringgit traded mostly higher against Asean currencies. The local note improved against the Singapore dollar to 3.2862/2934 on Friday from 3.2938/3002 the previous week, edged higher versus the Indonesian rupiah to 259.5/260.2 from 260.4/261.1 and stronger vis-a-vis the Philippine peso to 7.58/7.60 from 7.62/7.64 a week before, However, it weakened versus the Thai baht to 12.9599/9947 from 12.9507/9790 last week. — Bernama
Malay Mail
4 hours ago
- Malay Mail
Middle East-based engineer loses RM1.5m in online investment scheme, discovers scam only after failed withdrawal attempt
BUKIT MERTAJAM, June 7 — An engineer working in the Middle East lost over RM1.5 million to an online investment scam recently. Penang police chief Datuk Hamzah Ahmad sad the victim, 40, lodged a report with the Central Seberang Perai district police headquarters commercial crimes investigation division yesterday. 'In November last year the man got to know a woman through the phone and had a relationship before the woman invited him to join an investment scheme called GoldenCrimson that offered handsome returns. 'The man was interested to invest and was given a customer service number and a website link to register, and he invested RM90,510 and received returns of RM108,611,' he said in a statement tonight. The man grew confident in the scheme and made 103 transactions to 31 different accounts totalling RM1,532,563 from Dec 2 to March 8, and realised he was scammed when he failed to withdraw RM4,131,671 through the app but was asked instead to provide additional capital to be able to withdraw his profits. The case is being investigated under Section 420 of the Penal Code. — Bernama
The Star
4 hours ago
- The Star
Cuts hit contract workers
Meeting of minds: Anwar receiving a courtesy call from Muhammad Shahrul in Putrajaya. — Photo courtesy of Anwar's Facebook page PUTRAJAYA: The move by PETRONAS to trim its workforce by about 10% involves mostly contract workers, says Prime Minister Datuk Seri Anwar Ibrahim. 'It mostly involves contract (positions),' Anwar said when asked to comment on reports that PETRONAS would cut about 5,000 employees as part of a 'right-sizing' process. Anwar, who is also Finance Minister, said this after performing Friday prayers with over 500 congregants at Surau Al-Ikhwan, Jalan Pinggiran Putra, near here yesterday, Bernama reported. Also present was Selangor Mentri Besar Datuk Seri Amirudin Shari. On Thursday, PETRONAS president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Kamadjaja Aziz was reported to have said that the national oil and gas company would cut about 10% of its workforce as part of its right-sizing and restructuring process. He also denied that the state-owned company would exit its business in Canada. PETRONAS had previously stated that it needs to right-size its workforce to ensure the company's sustainability in the decades to come. It has nearly 50,000 employees, according to its website. Separately, Anwar said he would contact his Thai counterpart, Paetongtarn Shinawatra, regarding the border dispute between Thailand and Cambodia. Anwar said that as the Asean Chair, Malaysia took note of the developments in both countries. 'We will issue a statement (on the outcome of the discussion with Paetongtarn) later,' he told reporters. On May 28, Thai and Cambodian troops were involved in a brief skirmish in Thailand's Ubon Ratchathani province and Cambodia's Preah Vihear province, which resulted in the death of a Cambodian soldier. Cambodia has since announced its intention to bring the border dispute to the International Court of Justice. Thailand, meanwhile, has reportedly reiterated its commitment to resolving the issue peacefully in accordance with international law, as well as existing agreements and memoranda with Cambodia. Earlier, Anwar received a courtesy call from the new Malaysian Ambassador to the United States, Tan Sri Muhammad Shahrul Ikram Yaakob. Anwar said that they discussed, among others, measures to strengthen bilateral ties between Malaysia and the United States, including strategic efforts to attract quality and high-impact foreign investments. 'Among (the topics) touched on included strengthening Malaysia-US ties as well as efforts to attract quality and high-impact foreign investments from the country,' he said in a Facebook post today. The Prime Minister also wished Muhammad Shahrul all the best on his appointment, while stating his confidence in the former to elevate Malaysia's aspirations, image and reputation to the highest level. On June 3, His Majesty Sultan Ibrahim, King of Malaysia, presented the instrument of appointment to Muhammad Shahrul in a ceremony at Istana Negara.
