Yinson privatisation discussions continue without firm decision
MISC's Sept 25 filing kept the indicative price at RM2.35 per share, with the proposal still dependent on negotiations, agreements and approvals.
Yinson Holdings Bhd has yet to decide whether its potential privatisation will proceed, group chief executive officer Lim Chern Yuan said on Oct 1. He told The Edge that talks were continuing and that it remained uncertain whether an agreement would be signed.
The company previously disclosed preliminary, exploratory talks involving major shareholder Yinson Legacy Sdn Bhd, MISC Bhd, the Employees Provident Fund (EPF) and other stakeholders. Yinson Legacy is an investment vehicle associated with executive chairman Lim Han Weng and his family.
An indicative price of RM2.35 per share was announced on Aug 28. MISC reiterated that price in its Sept 25 filing, which said it and Yinson Legacy would purchase the remaining shares included in the proposal, amounting to approximately 55.20% of Yinson’s issued share capital.
If completed, the transaction would leave MISC and Yinson Legacy with equal stakes in Yinson. The EPF would keep its current effective holding. The proposed route is a scheme of arrangement under the Companies Act 2016, Section 366.
MISC said further assessment and negotiations were needed, alongside definitive agreements, a final offer price and the necessary approvals.
Lim spoke after Yinson GreenTech and Langkawi Port Sdn Bhd signed a memorandum of understanding for an electric ferry project between Langkawi and Kuala Perlis. Yinson GreenTech plans to supply two fully electric passenger ferries on charter, with Langkawi Port operating the service.
