Yinson Rescues Ezion, Another RTS Extension

00:00 - Yinson, the world’s 6th largest FPSO player, is buying Ezion, a Singapore-listed oil and gas company. Ezion, has been in distress, recording losses of USD344 million FY18. Yinson, will pay 200 million US dollars to acquire 916 million US dollars of Ezion’s existing debts from its lenders. Besides looking to synergise the O&G business they also have the ambition to venture into the renewable energy sector.

05:10 - The government is asking for another 6-month extension in order to decide on its next course of action on the Johor-Singapore Rapid Transit System link. It will connect JB with Woodlands North Station. The project was originally meant for completion by the end of 2024