LFG to dispose of vessel for RM28mil

PETALING JAYA: Lianson Fleet Group Bhd (LFG), formerly Icon Offshore Bhd, is disposing of its Icon Samudera vessel to Asia Investment and Asset Management Joint Stock Co for RM28.13mil.

In a filing with Bursa Malaysia, the marine logistics service provider said the vessel disposal is part of LFG’s ongoing fleet rejuvenation efforts to modernise and replace its fleet, in line with the evolving market demands of the oil and gas industry.

“This also aligns with LFG’s rebranding and long-term strategy to diversify from being a pure-play offshore support vessel player into other vessel asset classes, supporting our pivot towards new markets and strengthening our long-term growth and operational flexibility.

“The net proceeds from the vessel disposal will be utilised for general corporate purposes and to support LFG’s future growth and strategic initiatives,” it said.

The company said the estimated gain on disposal (net of associated costs) for the vessel disposal of approximately RM10mil is expected to contribute positively to its earnings, net assets, and gearing for the financial year ending Dec 31, 2025.