Yinson Holdings agreed to sell its offshore marine business Regulus Offshore to Icon Offshore for RM160 million (US$37 million) on Aug. 30.
Regulus owns and charters offshore support vessels, platform supply vessels, anchor handling tug supply and towing vessels.
Group chief strategy officer Chai Jia Jun explained, “Regulus Offshore is one of our profitable legacy businesses, and this transaction marks our biggest strategic decision since the last major investment back in 2015. Additionally, we believe this transaction will allow Yinson to ride the strong demand cycle in the offshore support vessel market and focus solely on our existing businesses.”
The company will now operate four businesses: Yinson Production (including FPSOs), Yinson Renewables, Yinson GreenTech and Farosson.
