Hengyuan reappoints Erkki Tapio Ranta as CEO
Ranta replaces Yin LuJiang, who is leaving the role after nearly three years leading the petroleum refiner.
Hengyuan Refining Company Bhd has appointed Erkki Tapio Ranta, 62, as chief executive officer with immediate effect. The returning executive succeeds Yin LuJiang, 55, who is relinquishing all CEO duties after nearly three years in the position, the company said.
Ranta’s earlier tenure as Hengyuan CEO began in March 2020 and ended in July 2021. He had joined Hengyuan International Sdn Bhd in November 2019 as a senior officer. The Finnish national has worked in the oil and gas industry for more than three decades.
After leaving Hengyuan, Ranta became managing director of Germany’s Bayernoil Raffineriegesellschaft mbH, serving between August 2021 and November 2024. He subsequently worked in Croatia as an independent consultant, starting in November 2024 and continuing until August 2026.
The petroleum refiner reported RM1.13 billion in net profit for the first half of FY2026 (1HFY2026), against a net loss of RM353.69 million in the corresponding year-earlier period. Revenue reached RM10.06 billion, up 70.76% from RM5.89 billion. Hengyuan attributed the improvement to higher average product prices, stable and efficient operations, stronger refining margins and reduced finance costs.
Malaysia Hengyuan International Ltd is Hengyuan’s largest shareholder, holding 55.67%. It is wholly owned by Heng Yuan Holdings Ltd, itself wholly owned by Shandong Hengyuan Petrochemical Co Ltd. China’s Shandong Hengyuan Petrochemical Group Co Ltd is the latter’s ultimate controlling shareholder.
Hengyuan shares finished at RM3.64, gaining eight sen or 2.25%, with market capitalisation at RM2.18 billion.
