Yinson Production secures USD 1 billion investment from consortium of international investment firms to drive further growth
Yinson Production has secured USD 1 billion from global investors, including ADIA, BCI, and RRJ Group, to fund growth and distribute USD 200 million to its controlling shareholder. The deal, valued at USD 3.7 billion, may expand to USD 1.5 billion within 24 months and is expected to close in Q1 2025.
EDEN INC. BERHAD SECURES 29.99 MW SOLAR POWER PROJECT IN PAHANG
EDEN INC. BERHAD has secured a 29.99 MW solar plant development in Gebeng, Kuantan, under the Energy Commission’s Large-Scale Solar 5 programme. The plant, set to begin operations by July 2027, will operate under a 21-year agreement with Tenaga Nasional Berhad (TNB).
This project reinforces EDEN’s commitment to renewable energy and regional development. The company’s shares were also reclassified under the renewable energy sub-sector on Bursa Malaysia, effective 13th January 2025.
Yinson Production’s FPSO Atlanta achieves first oil
Yinson Production’s FPSO Atlanta achieved first oil on 31 December 2024, marking the start of its 15-year firm charter with Brava Energia. The project boasts 9.8 million man-hours without lost time incidents and features innovative carbon-reducing solutions, underscoring Yinson’s commitment to sustainability and operational excellence.
RESERVOIR LINK’S ASSOCIATE SECURES RM20.0 MILLION FLOATING SOLAR FARM PROJECT
Reservoir Link Energy Bhd’s 45%-owned associate, Founder Group Limited, secured an RM20 million contract to construct a 10MWac floating solar farm in Kuala Langat, Selangor. Scheduled for completion by June 2025, the project reinforces Reservoir Link’s commitment to innovative and sustainable energy solutions.
UUE KICK-STARTS 2025 BY WINNING RM36.5 MILLION CONTRACTS
UUE Holdings Berhad secured RM36.5 million in contracts for underground cable installation within TNB’s distribution network in Terengganu, Kelantan, and Johor. These projects, supporting Malaysia’s energy transition goals, are expected to boost earnings and highlight UUE’s market strength and growth strategy.
GEORGE KENT TRANSFORMS SMART METERING WITH TELECOMMUNICATIONS TECHNOLOGY BREAKTHROUGHS
George Kent (Malaysia) Berhad has commercialized its automated meter reading (AMR) technology, now contributing to profits. Backed by over a decade of R&D, its third-generation AMR system, powered by 5G and NB-IoT, is expanding across Malaysia, Singapore, and Vietnam, driving innovation in smart water management.
ITMAX EXPANDS PRESENCE IN PENANG WITH SECOND CONTRACT VALUED AT RM11.8 MILLION
ITMAX System Berhad (“ITMAX”) secured an RM11.8 million contract from Penang Island City Council (“MBPP”) to upgrade and maintain AI-enhanced video surveillance on Penang Island over 60 months. CEO William Tan Wei Lun highlighted this as a key milestone, building on prior collaborations to enhance MBPP’s surveillance infrastructure.
KEYFIELD INVESTS USD17.6 MILLION TO ACQUIRE A PSV TO LEVERAGE ON ITS PCC STATUS
Keyfield International Berhad (“Keyfield”) announced the acquisition of a Dynamic Positioning 2 (DP2) Platform Supply Vessel (PSV), to be renamed Keyfield Gratitude. Purchased for USD17.6 million (RM79.22 million) with additional capital expenditure of USD2.0 million (RM9.0 million), Gratitude will support Keyfield’s vessel chartering business, transporting materials and equipment between shore and offshore platforms while accommodating up to 59 persons.
KERJAYA PROSPEK SECURES FIRST CONSTRUCTION CONTRACT FOR 2025
Kerjaya Prospek Group Berhad (“Kerjaya”) secured a RM256.4 million contract from Eastern & Oriental Express Sdn. Bhd. to construct 360 terrace houses and related infrastructure in Elmina West, Shah Alam. The 26-month project raises Kerjaya’s order book to RM4.2 billion, ensuring strong earnings visibility. CEO Tee Eng Tiong highlighted the win as a testament to the Group’s commitment to growth and shareholder value.
YINSON PRODUCTION SECURES CONTRACT EXTENSION OF AT LEAST 18 MONTHS FOR FPSO PTSC LAM SON
Yinson Production is pleased to announce the charter contract for FPSO PTSC Lam Son has been extended for a firm period of 18 months, starting 1 January 2025 through 30 June 2026. The agreement also includes an automatic six-month extension until 31 December 2026, subject to conditions.
The total value of this extension is approximately USD 36.2 million, with USD 17.7 million attributable to Yinson Production.
