Hengyuan Investor Relations
Hengyuan Refining Company Berhad ("HRC"), formerly known as Shell Refining Company (Federation of Malaya) Berhad ("SRC"), was incorporated in Malaysia on 19 September 1960.
The Company was listed on the Main Board of the then Kuala Lumpur Stock Exchange (now known as the Main Market of Bursa Malaysia Securities Berhad) on 29 October 1962.
On 22 December 2016, Malaysia Hengyuan International Limited ("MHIL") acquired a 51.02% equity stake in SRC from Shell Overseas Holdings Limited for USD66.3 million. MHIL is wholly owned by Hengyuan Holdings Limited, which in turn is a wholly owned subsidiary of Shandong Hengyuan Petrochemical Company Limited.
On 14 July 2025, the Company proposed a renounceable rights issue with warrants, which was approved by shareholders on 18 September 2025. MHIL, as the major shareholder, undertook to fully subscribe to its entitlement and any excess Rights Shares to ensure minimum proceeds of RM155.0 million. Accordingly, MHIL's equity interest increased to 55.67% from 51.02%. This Rights Issue with Warrants exercise was completed on 30 October 2025.
HRC is principally engaged in the refining and manufacturing of petroleum products to meet required quality specifications, including gasoil (diesel), mogas (petrol U95/U97), jet A1 (jet fuel), Liquefied petroleum gas (LPG), fuel oil components, sulphur and chemical feedstocks (such as light naphtha and propylene). The Company currently owns and operates a refinery in Port Dickson, Negeri Sembilan with a processing capacity of 156,000 barrels per day, and employs more than 500 personnel, comprising staff and contractors.
