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Malaysia's EPF ups stake in Yinson to over 10%

Malaysia's EPF ups stake in Yinson to over 10%
Malaysia's Employees Provident Fund (EPF) has emerged as one of the major shareholders of Yinson Holdings, after having increased its stake in the company from 4.9% to 10.13%, local reports said.

Through a proposed private placement, EPF took up 60m shares at MYR2.83 per share in the budding floating production storage and offloading (FPSO) vessel player.

“We view EPF as a strong and strategic shareholder for Yinson and believe it will be a long term shareholder to the group's expansion activities moving forward.

“EPF's support and confidence in the group is an encouragement for us to continue driving growth in Yinson and creating value for our shareholders," said group executive chairman Lim Han Weng.