Hengyuan Refining Company Berhad is a Malaysian petroleum refining company that has been around since 1960. It is one of the key players in Malaysia's oil refining industry, producing a variety of petroleum products. The company reported steady progress and has been working on strengthening its financial position recently, including plans for an up to RM300 million rights issue to support feedstock procurement and customer diversification.
Hengyuan Refining Company Berhad, formerly known as Shell Refining Company (Federation of Malaya) Berhad, underwent a name change in March 2017 following the acquisition of a 51% equity stake by Malaysia Hengyuan International Ltd (MHIL), a subsidiary of China's Shandong Hengyuan Petrochemical Group Company Limited.
The 66th Annual General Meeting of Hengyuan was held on May 28, 2025, at Tropicana Golf & Country Resort,. Attendees received doorgifts comprising a lunch buffet and a water flask. The AGM served as an important forum for shareholders to evaluate the company's performance and approve key governance matters.
The EGM’s key agenda is a proposed renounceable rights issue of up to 300 million new ordinary shares in Hengyuan Refining Company, accompanied by 150 million free detachable warrants. Under the proposal, shareholders will receive one (1) Rights Share for each existing share held, and one (1) Warrant for every two (2) Rights Shares subscribed. The issue price and entitlement date will be announced at a later time.