Yinson Annual Report 2021

86 YINSON HOLDINGS BERHAD SECTION 05 : OUR CAPITALS FINANCIAL CAPITAL INPUTS Equity shareholders Yinson’s shares are listed on the Main Market of Bursa Malaysia Securities Berhad (KLSE:YINSON). Yinson’s top three shareholders own 52.9% of stock, while other public shareholders make up the remaining 47.1%. Our founder serves as Yinson’s Group Executive Chairman, while both the EPF's Chief Investment Officer and KWAP's Chairman of the Investment Panel currently sit on Yinson’s Board. The founding Lim family has subscribed to all rights issues raised. In 2015, EPF fully subscribed to Yinson’s private placement of RM169.8 million. YINSON’S SHAREHOLDINGS BY CATEGORY (According to the Company’s Register of Substantial Shareholders as at 6 May 2021.) Financing and funding partners We optimise our capital structure by tapping the financial markets and through resourceful deployment of our internally-generated funds to finance our capital requirements. Since our fundraising exercise with the Group’s ordinary shareholders in 2015, we have successfully delivered FPSO JAK, FPSO Helang and FPSO Abigail-Joseph, and are well on track towards the delivery of FPSO Anna Nery in 2023. Platform level We include perpetual securities and sukuk mudharabah as part of Yinson's long-term equity structure. These instruments are classified as equity yet do not dilute our existing shareholders. Yinson has successfully expanded its capital structure with five issuances since its inaugural exercise in 2015. EQUITY AND PERPETUAL SECURITIES Perpetual Securities (NC5) USD90 million Perpetual Securities (NC5) USD30 million Sukuk Mudharabah (NC15) RM950 million Perpetual Securities (NC5) USD100 million Perpetual Securities (Private Placement) (NC5) USD100 million 2015 2017 2018 2019 On top of these, we have also successfully raised corporate borrowings. In FYE 2021, we successfully raised USD139 million of term loans from our relationship banks, made possible through our careful cultivation of the relationships over the years via open and honest communication, which has allowed the banks to better understand our business and appreciate its robustness. Corporate facilities enable us to be flexible when providing funding for our equity requirements, which in turn allow us to pursue business opportunities in a timely manner. We have also successfully raised RM200 million SLF from HSBC Amanah Malaysia, as we continue to make progress in the areas of ESG. Project level Over the years, we have built relationships with a network of banks active in FPSO financing. Despite the challenging financing environment in FYE 2021, we successfully raised a USD400 million bridge loan for FPSO Anna Nery, as well as the USD800 million refinancing for FPSO JAK. To navigate the challenging oil & gas financing landscape, we constantly innovate and explore other modes of financing such as project level preference shares, non-recourse project equity or junior loans for our offshore production projects, which may open up fresh pockets of funding liquidity from different pools of financiers including infrastructure or credit funds. The appetite for renewables-based projects has grown in the current financing market as we accelerate the transition into cleaner sources of energy. We are actively seeking the best financing solutions on top of the usual project financing with our international banking network. For instance, local currency financing in India could be an attractive solution as it offers a natural hedge and longer tenure financing for our Indian assets, potentially unlocking a new pocket of liquidity for current and future projects. Lim family 27.5% EPF 15.6% Public shareholders 47.1% KWAP 9.8%