Yinson Holdings, a well-known Malaysian company led by Lim Han Weng and his family, has just pulled off a huge deal.
They’ve got $1 billion from some big international investors, including the Abu Dhabi Investment Authority (ADIA), which is one of the world’s top money managers.
This cash is a game-changer for Yinson, helping it grow their oil and gas business while also jumping into green energy projects.
The money is split into two parts. About $200 million will go towards renewable energy, like solar power, and to share some profits with the people who own Yinson’s shares.
The rest, a massive $800 million, will be used to buy and fix up special ships called FPSOs. These ships are super important because they pull oil and gas out of the sea.
Yinson has big plans to start new FPSO projects in 2025 and 2026, so this money will come in handy to make that happen.
This deal shows that Yinson’s oil and gas unit, called Yinson Production Offshore, is worth $3.7 billion. And there’s more, the investors might add another $500 million in the next two years if both sides say yes.
The investors joining Yinson include ADIA’s unit Platinum Lily B 2024 RSC Ltd, British Columbia Investment Management Corporation (BCI), and RRJ Group. They’re buying special shares to become part of Yinson’s journey.
Lim Chern Yuan, the company’s boss, is excited and said this is a golden chance to do more in the FPSO business, which is super busy right now, while also keeping their green energy dreams alive.
Flemming Grønnegaard, who runs Yinson Production, says this is one of the biggest deals of its kind in Southeast Asia. He’s confident the money will help Yinson take on more oil and gas projects and stay ahead of the game.
Yinson isn’t new to green energy. They already run 557 megawatts of power from solar plants in countries like India and Peru. Now, they want to add 1,500 more megawatts to that.
The $200 million from this deal will help them build more solar projects and grow their clean energy work. It’s all part of their plan to mix old-style oil and gas with new, eco-friendly energy.
The story of Yinson started way back in 1984. Lim Han Weng and his wife, Bah Kim Lian, began it as a small transport and trading business. Over the years, it’s grown into a giant in Southeast Asia’s oil and gas world.
The Lim family is now one of Malaysia’s richest, with Lim Han Weng worth $405 million. But they’re not stopping there. With this $1 billion, they’re ready to keep growing in both oil and green energy.
They’ve got work worth over $22 billion lined up, with FPSO jobs that’ll keep them busy until the 2040s. That’s a lot of oil and gas action! At the same time, they’re putting more effort into solar power and other green tech.
This mix of old and new energy is smart because the world still needs oil, but it’s also moving towards cleaner power.
Yinson’s leaders know the planet is changing. Climate change is a big deal, and people want energy that doesn’t harm the earth.
That’s why they’re not just sticking to oil, they’re building solar plants and planning for more. The $200 million for green energy will help them set up new projects and maybe even explore other clean power ideas.
The company’s future looks bright. With this $1 billion, Yinson can keep its oil and gas business strong while also becoming a bigger name in renewable energy.
They’ve got the money, the plans, and the people to make it work. Whether it’s pulling oil from the sea or making power from the sun, Yinson is ready to take on both.
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