Malaysian OSV owner Icon Offshore has secured shareholders’ approval to change its name to Lianson Fleet Group (LFG) as it sets sights on significant fleet expansion.
Last year, the Bursa Malaysia listed firm with around 20 OSVs struck a deal that will see it adding 40 vessels, the majority of which from Yinson’s founder and chairman Lim Han Weng and its Liannex Corp, while the remaining vessels will come from Yinson’s businesses.
The transaction has also been approved and is expected to close by early February this year.
The move “will mark a significant milestone for LFG, aligning with its long-term strategic goals to strengthen its asset base and enhance its overall capabilities in offshore marine, energy and transportation services,” the company said, adding that the proposed name change to LFG underscored its dedication towards reinforcing its market presence to better align with its expanded business activities.
“The group seeks to strengthen its brand recognition and enhance its position as a prominent force within the dynamic offshore marine, energy and transportation services sector,” the company noted.
Energy News Beat