Yinson Annual Report 2020

52 Yinson Holdings Berhad SECTION 4 OUR CAPITALS NATURAL SOCIAL & RELATIONSHIPS HUMAN ORGANISATIONAL MANUFACTURED FINANCIAL Equity shareholders Yinson’s shares are listed on the Main Market of the Bursa Malaysia Securities Berhad (KLSE:YINSON). The top three shareholders of the Company are the family of Yinson’s founder and Group Executive Chairman, Malaysia’s Employees Provident Fund (“EPF”), and Kumpulan Wang Persaraan (Diperbadankan). The top three shareholders of Yinson own approximately 54.07% of stock collectively. Shareholder Stake Lim Han Weng and family 26.34% EPF 17.48% Kumpulan Wang Persaraan (Diperbadankan) 10.25% Total 54.07% (According to the Company’s Register of Substantial Shareholders as at 6 May 2020) The founding Lim family remains the largest shareholder, with 26.34% ownership. The Lim family has subscribed to all rights issues raised by Yinson to date. Currently, the Chief Investment Officer of EPF resides on Yinson’s Board. In 2015, EPF fully subscribed to Yinson’s private placement of RM169.8 million. Perpetual securities holders Yinson raises external funding to carry out its business activities through a variety of sources. Since 2015, Yinson has issued perpetual securities to raise long-term funding to meet the capital expenditure needs of our projects. This has allowed us to raise a separate class of equity without taking on additional debt onto our balance sheet. The unique characteristics of the perpetual securities lend its support towards lowering the Group’s gearing levels while buffering equity base and extending financing maturities. Total loans and borrowings (RM’000) FYE 2020 3,830,403 FYE 2019 3,149,730 FYE 2018 3,010,158 FYE 2017 3,393,173 FYE 2016 1,654,151 lOANS AND Borrowings Loans and borrowings of the Group have been driven according to project execution needs. Given the capital- intensive nature of our business, it is essential that our projects are bankable on its terms and conditions and supported by financial institutions. Project financing loans are meticulously structured to ensure smooth disbursement during project execution, tie-in of repayment sources, sustainability of working capital, manageable leverage and securitised assets – all to safeguard the interests of our shareholders and lenders. The loans and borrowings position of the Group experienced significant growth as a result of the successful execution of FPSO JAK, which was completed in FYE 2018. Growth in loans and borrowings during the current financial year of 21.6% to RM3,830.40 million is mainly attributed to the execution of the FPSO Helang project and preparatory funding drawn for the FPSO Anna Nery project.