Latest news with #Yinson
BusinessToday
11 hours ago
- Business
- BusinessToday
Yinson Responds To Possible Stonepeak Acquisition
Yinson Holdings Berhad (YHB) has issued a formal clarification following media reports suggesting that the company is the subject of a potential US$2.1 billion buyout by U.S.-based investment firm Stonepeak. In a statement released on 6 June 2025, Yinson denied being in discussions with any third parties regarding a buyout exercise. 'The Company wishes to clarify that it is not in discussion with any third parties in respect of any buyout exercise,' the statement read. However, the company acknowledged that its Group Executive Chairman, Lim Han Weng, is engaged in preliminary discussions with several parties concerning potential corporate proposals involving his shareholding in YHB. These talks, Yinson emphasised, are still in the exploratory phase and may not lead to any definitive corporate action. 'There is currently no conclusive indication that the discussions would give rise to a corporate proposal involving YHB,' the company noted. Yinson assured that it will comply with Bursa Malaysia's Main Market Listing Requirements and make the necessary announcements should any corporate exercise materialise. In the meantime, the company has advised shareholders to exercise caution and seek appropriate professional advice when dealing in YHB shares. The clarification comes in response to widespread media coverage on Stonepeak's exclusive talks to acquire Yinson in a deal potentially valued at over RM9 billion. Related
New Straits Times
16 hours ago
- Business
- New Straits Times
Analysts tie Stonepeak's Yinson interest to FPSO boom
KUALA LUMPUR: Stonepeak Partners' interest in Yinson Holdings Bhd may stem from surging global demand for floating production storage and offloading (FPSO) vessels, which, according to Energy Maritime Associates, is projected to top US$88 billion over five years, analysts said. The New York-based infrastructure investor is reportedly in exclusive talks to acquire Yinson, potentially valuing the Malaysian energy infrastructure firm at up to RM9 billion, making it one of the country's largest deals this year. On June 6, reports emerged that Stonepeak is in exclusive discussions to buy out Yinson, citing sources familiar with the matter. The deal involves collaboration with the Lim family, Yinson's founder and largest shareholder, which held a 26.6 per cent stake as of May 30, aiming to take the energy infrastructure firm private. Analysts see the deal as a strategic fit. Stonepeak's focus on infrastructure-backed, cash-generating assets aligns with Yinson's core FPSO business, which includes long-term contracts across Africa, Asia, and South America. The acquisition would also expand Stonepeak's presence in Asia-Pacific energy infrastructure, an analyst told Business Times on condition of anonymity. However, Yinson has clarified that it is not in discussions with any third party in respect of a buyout exercise. Executive chairman Lim Han Weng said the company is currently engaged in exploratory talks with various parties on potential corporate proposals related to its shareholding. "However, given that the discussions are still at an exploratory stage, there is currently no conclusive indication that the discussions would give rise to a corporate proposal involving Yinson," it said in a filing to Bursa Malaysia on Monday. Crown jewel The FPSO business is the crown jewel of the Lim family empire. Yinson, controlled by founder Lim Han Weng and son Lim Chern Yuan, is currently the second-largest FPSO operator globally. "The Lims have built Yinson into a well-oiled money machine. They have transformed Yinson into a highly efficient and profitable operation, making it an attractive takeover candidate," the analyst said. Lim (Chern Yuan) revealed in an April Forbes interview that Yinson plans to bid for three mega-FPSO projects, worth at least US$1.5 billion each in that period. While he did not disclose details of the bid, Maybank Investment Bank analyst Jeremie Yap believed they could be in Ghana, Ivory Coast and Malaysia. Yap wrote in a March research note that given Yinson's track record, it is well positioned to win future projects and could be a preferred choice for the bids. Meanwhile, CIMB Research Sdn Bhd said that the RM9 billion valuation translates to RM3.23 per share, a 38 per cent premium over Yinson's last close of RM2.34 and 10.2 per cent above the research firm's target price of RM2.93. If confirmed, this could pave the way for a privatisation offer, the firm said in a note. Yinson's shares have declined 23 per cent over the past year, partly due to the post-tariff market downturn. Following news of the potential buyout, Yinson's share price jumped 13.8 per cent on June 6, its largest single-day gain since 2019, narrowing year-to-date losses from 33.7 per cent to 11.4 per cent and lifting its market capitalisation to RM6.5 billion. CIMB highlighted that the exclusive negotiations indicate advanced discussions involving the Lim family. Stonepeak's interest aligns with its strategy to invest in infrastructure-based, cash-generating assets with long-term contracts, characteristics exemplified by Yinson's FPSO business. "This deal would also help Stonepeak increase its exposure in Asia Pacific energy infrastructure, where Yinson has already established a solid and growing footprint. However, Yinson has declined to comment, stating that the information remains unverified," CIMB said. Yinson's portfolio includes a solid project backlog valued at US$20.5 billion and eight active FPSO contracts. Its growing footprint in emerging markets, along with energy transition initiatives such as solar and battery storage, supports the premium valuation. Stonepeak would gain deeper access to the Asia-Pacific energy infrastructure sector through this acquisition. CIMB noted that Yinson's FY24 price-to-earnings (P/E.) ratio of 9.5x, though higher than the industry average of 8.2x, is justified by its scale, strong project pipeline, and exposure to energy transition. For comparison, peers SBM Offshore and Modec trade at 4.8x and 11.6x, respectively. Stonepeak is expected to value Yinson's strategic growth in FPSO contracts, especially after Yinson's recent efforts to strengthen its financial position, including raising US$1 billion in January 2025 from a consortium of institutional investors, and growth in its renewable energy segments, CIMB said. The US$1 billion funding round included top investors such as Abu Dhabi Investment Authority, British Columbia Investment Management, and RRJ Capital, supporting both FPSO expansion and the renewable energy portfolio. Despite a 22 per cent drop in net profit to RM752 million for FY2025, due to higher financing costs and lower engineering revenue, CIMB forecasts stronger results ahead, particularly with the Agogo FPSO expected to start production by September. CIMB maintains its Buy rating on Yinson, with a target price of RM2.93 and earnings estimates for FY2026–2028. Potential catalysts for re-rating include contributions from FPSO projects Maria Quiteria, Atlanta, and Agogo, alongside possible asset monetisation and privatisation. Risks remain, including possible delays or cost overruns in FPSO projects and ongoing losses in the green technology segment.
The Star
17 hours ago
- Business
- The Star
Yinson Holdings breaks silence on buyout rumour
PETALING JAYA: Amid rumours of a corporate buyout, Yinson Holdings Bhd confirmed that its single-largest shareholder and chairman is in talks with several parties for a 'potential corporate proposal'. The leading operator of floating production, storage and offloading (FPSO) vessels, however, stopped short of disclosing whether the proposal entails taking Yinson private. 'The company wishes to clarify that it is not in discussion with any third parties in respect of any buyout exercise. 'After consultation with its major shareholders, the company was advised by (chairman) Lim Han Weng that they are in exploratory discussions with various parties with reference to potential corporate proposal(s) concerning their shareholding in Yinson. 'However, given that the discussions are still at an exploratory stage, there is currently no conclusive indication that the discussions would give rise to a corporate proposal involving Yinson,' it said in a filing with Bursa Malaysia. Yinson also reminded shareholders to exercise caution and seek appropriate advice when dealing in its shares. In yesterday's early trade, the Yinson stock continued to rise following news that New York-based infrastructure investment firm Stonepeak Partners is in exclusive talks to acquire the oil and gas services firm. Yinson shares had climbed to an intra-day high of RM2.44 before profit-taking saw the price settling at RM2.33 at market close. A total of 19.08 million shares were traded. In the past five trading days, Yinson shares are up 16.50% although it is still down about 11% year-to-date. Last Friday, Bloomberg reported that the founding Lim family of Yinson is working together with Stonepeak to privatise the company at RM2.76 or up to RM3.11 per share. CGS International (CGSI) Research said this valued Yinson at about RM9bil, assuming RM3.11 per share. At yesterday's closing, Yinson's market cap stood at RM7.27bil. According to CGSI Research, it is not surprised by the news because when Yinson announced earlier this year that its subsidiary Yinson Production would issue US$1bil in redeemable convertible preference shares (RCPS) to three funds, the company's share price fell 35% from RM2.70 to a low of RM1.75 on April 9, 2025. This came as investors were worried about the high interest cost of the RCPS issue at 12.95% per year or higher. 'We understand from Yinson that the first US$300mil tranche of the RCPS will likely be issued in mid-June 2025 with US$200mil to be issued in mid-December 2025, US$300mil in mid-June 2026 and the final US$200mil in mid-December 2026,' said the research house in a report yesterday. Recall that the Lim family, which owns 27% of Yinson, plans to list Yinson Production on the US equity markets in five years' time. One possible scenario CGSI Research saw was for the Lim family to take a loan from Stonepeak with a view to repay it in five years upon the initial public offering of Yinson Production. This would mean that the Lim family may ultimately hold 100% of Yinson, assuming the privatisation happens. 'But we think that the Lim family would likely at least maintain its about 27% equity stake in Yinson if Stonepeak comes in as an equity partner.' The research house said it would be unlikely that the three funds would block the privatisation of Yinson, as the ultimate beneficial ownership of the group will likely remain in the hands of the Lim family, whichever the scenario. It said the listing of Yinson Production would be the key exit plan for those funds as well as yield significant capital gains for Yinson. This is probably the rationale for the potential privatisation of Yinson, added CGSI Research.
Yahoo
21 hours ago
- Business
- Yahoo
Yinson, MPA collaborate on Maritime Digital Twin for sustainable ports
Yinson GreenTech has entered into a memorandum of understanding with the Maritime and Port Authority of Singapore (MPA) to advance the development of the Maritime Digital Twin (MDT) platform that leverages real-time operational data to model Singapore's port environment. The MoU was signed during Nor-Shipping 2025. Under the MoU, Yinson GreenTech and MPA will collaborate by sharing data and operational insights from Yinson GreenTech's fleet of electric harbour craft with the MDT. This cooperation aims to improve modelling accuracy and enable scenario testing to support smarter fleet deployment and optimise port operations. The partnership will also involve co-developing digital workflows and solutions to facilitate the expansion of electric harbour craft operations. The collaboration aligns with Yinson GreenTech's focus on providing clean transport solutions across the maritime sector. By integrating its vessels, charging infrastructure, and proprietary digital platforms, the company seeks to enable real-time, data-driven operations that contribute to Singapore's green port objectives. Yinson GreenTech marine managing director Jan Viggo Johansen said: 'We are delighted to be collaborating once more with MPA to advance the decarbonisation of Singapore's maritime sector. 'At Yinson GreenTech, we support the shift towards cleaner port operations by integrating electric vessels, charging systems, and digital platforms that enable more efficient and sustainable outcomes. 'Together with MPA, we are driving greater efficiencies, further optimising port operations and introducing groundbreaking innovation through data that supports the transformation of Singapore's harbour craft industry.' In November 2023, Yinson announced the launch of the Hydromover, Singapore's first electric cargo vessel, developed in collaboration with the Goal Zero Consortium and SeaTech Solutions. This 18.5m vessel is engineered to transport up to 25t of cargo. Yinson stated that the Hydromover features swappable battery technology, which can decrease operational costs by as much as 50%. "Yinson, MPA collaborate on Maritime Digital Twin for sustainable ports" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
BusinessToday
a day ago
- Business
- BusinessToday
Stonepeak Partners' Reported Acquisition Of Yinson Could Value The Deal At RM9 Billion
Yinson Holdings Bhd - FSO (FPSO) Helang New York-based infrastructure investment firm Stonepeak Partners is reportedly in exclusive negotiations to acquire Malaysian energy infrastructure company Yinson Holdings Berhad, in a deal that could value the company at up to RM9 billion (US$2.1 billion). The development was first reported by Bloomberg. According to analysis by CIMB Research, this valuation translates to approximately RM3.23 per share, based on Yinson's 2.784 billion existing shares. CIMB Research indicated that if the report proves accurate, these exclusive talks could pave the way for a privatisation offer for the remaining shares of Yinson. Yinson's current market capitalisation stands at around RM6.5 billion. CIMB Research noted that the exclusivity arrangement suggests the deal has entered advanced stages of negotiation. The Lim family, who founded Yinson, currently holds a significant 26.6% stake in the company. The research house also commented that Stonepeak's investment focus appears to align well with Yinson's strategic direction, particularly given Yinson's growing presence in floating production, storage, and offloading (FPSO) and renewable energy sectors. From a valuation perspective, CIMB Research highlighted that the indicative RM9.0 billion take-private valuation, equivalent to RM3.23 per share, implies a substantial 38.0% premium to Yinson's last closing price. Relative to CIMB Research's own target price of RM2.93, the proposed acquisition price would represent a slight premium of 10.2%, suggesting potential additional upside should a formal offer materialize. Related
