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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.

Vincent Wee, Hong Kong and South East Asia Correspondent

July 8, 2015

1 Min Read
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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.

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About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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