Malaysia’s Yinson Holdings In Talks To Buy TH Heavy Engineering’s FPSO


Come on, Sabah International Petroleum. Where you at?

Dateline 2017-10-27, Nikkei Asian Review:

Malaysian oil and gas services company Yinson Holdings is in “exploratory talks” with TH Heavy Engineering to buy the company’s floating production storage and offloading unit, its chief executive said Friday.

The talks come as Yinson looks at opportunities to invest in “distressed” oil and gas companies, Lim Chern Yuan told Nikkei Markets. There could be other deals in the pipeline, he said.

The company “sits on about 600 million ringgit ($141.49 million) in cash” to back potential acquisitions, and will not “have a problem raising capital” should the need arise, Lim said.

 

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