Yinson to the rescue

Why Bursa Malaysia-listed Yinson is playing white knight to Ezion, the provider of liftboats and support vessels which is sinking from debt

On March 5, following the announce­ment by Yinson Holdings and Ezi­on Holdings of a renewed scheme of arrangement, Lim Chern Yuan, group CEO of Yinson Holdings, re­counted the reasons why his company is in­terested in Ezion. It is all about the liftboats, which can work in the traditional oil and gas fields, decommission those fields and move on to renewables.

“We do see Ezion as a notable player in the liftboats segment,” he told reporters from The Edge Singapore in a recent interview. But it could be some time before Ezion contributes positively to Yinson’s bottomline.

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