Yinson Holdings Bhd (Malaysia)

Yinson Holdings Bhd is a company located in Kuala Lumpur, Malaysia. It was founded in 1984 by Lim Han Weng as a transport and logistics company in Johor Bahru. Over the years, Yinson grew to become one of Malaysia's largest transport companies, operating a fleet of 365 trucks and supplying an additional 565 trucks to customers. In 2010, Yinson expanded its services to include marine transport through the acquisition of five tugboats. The company also won a contract for port cargo handling services in Vietnam. In 2011, Yinson entered the oil and gas industry by forming a consortium with PetroVietnam Technical Services Corporation (PTSC) and was awarded a contract for the charter of a floating, storage, and offloading vessel (FSO) called FSO PTSC Bien Dong 01. This led to Yinson winning another contract for the charter of a floating, production, storage, and offloading vessel (FPSO) called FPSO PTSC Lam Son. In 2014, Yinson acquired Norwegian FPSO company Fred. Olsen Production ASA, which added three FPSO vessels and a mobile offshore production unit (MOPU) to its portfolio. By mid-2016, Yinson divested its non-oil and gas businesses to focus solely on serving the offshore oil and gas industry. Since then, the company has added three new FPSO projects to its track record. In 2019, Yinson diversified into renewables and acquired its first operational renewables asset, the Bhadla solar plants in India. The company also secured a contract to build and operate a solar plant in the Nokh Solar Park, India. In 2020, Yinson established Yinson GreenTech, which focuses on investing in new technologies and businesses related to marine, mobility, and energy segments. The company aims to establish green technologies as a major revenue stream and develop profitable businesses based on clean technologies and digitalization. In 2023, Yinson established Farosson to provide advisory, investment, and asset management services in sustainable infrastructure investing. Yinson currently invests in five business units: Yinson Production, Yinson Renewables, Yinson GreenTech, Farosson, and Regulus Offshore.