Yinson Holdings Berhad (“Yinson” or the “Group”) will divest its offshore marine business,
Regulus Offshore, to Icon Offshore Berhad (“ICON”), supporting the Group’s strategic
direction to focus on its FPSO and energy transition businesses. The disposal was executed
via a binding term sheet signed between both parties for a consideration of RM160 million,
which is to be satisfied via issuance of new shares by ICON at RM0.88 per share. The disposal
is subject to the approval of ICON’s shareholders in a forthcoming shareholders’ meeting and
relevant government authorities.
The timely divestment, when completed, provides Yinson with a minority stake and board
seat in ICON which will allow the Group to participate in the future growth of ICON. Yinson
anticipates recognising a gain upon the disposal.
Yinson’s Group Chief Strategy Officer, Chai Jia Jun shares his perspective on the divestment,
“The Group’s overarching business objectives drive this divestment and we have signalled to
the market that we will embark on a series of exercises to unlock value for our businesses.
Regulus Offshore is one of our profitable legacy businesses and this transaction marks our
biggest strategic decision since the last major investment back in 2015. Additionally, we
believe this transaction will allow Yinson to ride the strong demand cycle in the OSV market
and focus solely on our existing businesses.”
Yinson’s portfolio will now consist of 4 businesses: Yinson Production, Yinson Renewables,
Yinson GreenTech and Farosson. The divestment exercise is expected to be completed around
Q1 of 2025 and has a positive impact on Yinson’s FYE 2025 earnings.
