Latest news with #LimHanWeng
BusinessToday
10-06-2025
- 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
The Star
10-06-2025
- Business
- The Star
Trading ideas: Yinson, 99 Speed Mart, Sealink, Citaglobal, Chin Well
KUALA LUMPUR: Here are some stocks that could see trading interest today following their latest news, including Yinson Holdings Bhd , 99 Speed Mart Retail Holdings Bhd, Sealink International Bhd , Citaglobal Bhd , and Chin Well Holdings Bhd . Yinson has clarified that it is not in discussions with any third parties regarding a buyout exercise. However, the group said its executive chairman, Lim Han Weng, is currently engaged in 'exploratory discussions' with various parties concerning potential corporate proposals related to its shareholding. The Employees Provident Fund (EPF) has acquired a 5.02% stake in 99 Speed Mart through a direct off-market transaction. Citaglobal has appointed 27-year-old Tengku Muhammad Iskandar Ri'ayatuddin Shah (Tengku Arif Bendahara) as an independent and non-executive director. Tengku Arif Bendahara is the son of the Sultan of Pahang, Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah. Sealink announced that access to its vessel, which was damaged by a fire in Brazil last month, remains restricted due to the current site conditions. As a result, the company said that a full on-site assessment of the vessel and the extent of the damage has been delayed. Overnight, the S&P 500 climbed 0.09% to end the session at 6,005.88 points. The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points.
New Straits Times
10-06-2025
- 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
09-06-2025
- 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.
Forbes
09-06-2025
- Business
- Forbes
Malaysian Tycoon Lim Han Weng In Talks For A Potential Yinson Deal
A floating production, storage and offloading vessel built by Yinson. Yinson Holdings said its chairman Lim Han Weng is in talks with several parties for a potential deal involving his shareholding in the Kuala Lumpur-listed energy giant. '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,' the company said in a statement to Bursa Malaysia. While the statement didn't identify the parties Lim is in talks with, Bloomberg reported last week that the Lim family was in exclusive talks with New York-based Stonepeak Partners to take Yinson private in a deal valuing the company at 9 billion ringgit ($2.1 billion). That's at a 38% premium to Yinson's market capitalization of 6.5 billion ringgit. Yinson was founded in 1984 by Lim and his wife, Bah Kim Lian, as a transport and trading company. It has since diversified into energy infrastructure and is now one the world's largest operators of floating production, storage and offloading (FPSO) vessels that it leases to oil and gas companies in Angola, Brazil, Ghana and Vietnam. Its FPSO vessel operating unit raised $1 billion in January from the Abu Dhabi Investment Authority, British Columbia Investment Management and Singapore-based private equity firm RRJ Capital. In 2020, Yinson diversified into renewable energy and now has solar plants in India and Peru. With a net worth of $480 million, the Lim family ranked no. 41 in Forbes Asia's list of Malaysia's richest that was published in April this year.
