Icon Offshore an ‘M&A hotbed’

Icon Offshore an ‘M&A hotbed’

Malaysia’s Icon Offshore is well placed to hoover up other offshore players, a new research report out claims. Maybank reckons the presence of private equity firm Ekuiti Nasional Bhd (Ekuinas) as Icon’s largest shareholder makes it an “M&A hotbed”.

“Icon Offshore managing director Amir Hamzah has signed in for work since March 1. His appointment, coupled with Petronas’ call for consolidation in the OSV market and Ekuinas’ role as the government’s private equity fund makes Icon Offshore a M&A hotbed,” said Maybank research analyst Liaw Thong Jung.

Ekuinas has a 42% stake in Icon Offshore, one of the largest OSV service providers in Malaysia.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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