KUALA LUMPUR (April 4): Lianson Fleet Group Bhd (KL:LFG), formerly known as Icon Offshore Bhd, has proposed to dispose of a vessel to a Dubai-based firm for US$6.90 million (RM30.73 million).

The offshore support vessel company said the proposed sale of the vessel to P&O Maritime Offshore AHTSV FZE is part of its plan to modernise its fleet and adapt to market demands in the oil and gas industry.

“This also aligns with LFG’s rebranding and long-term strategy to diversify beyond offshore support vessels into other vessel asset classes, supporting our pivot towards new markets and strengthening long-term growth and operational flexibility,” LFG added in a bourse filing.

The vessel, Icon Azra, was acquired in 2013 for RM49.26 million, and has a net carrying value of RM21.8 million as of end-March 2025, LFG said.

The company expects to record an estimated net gain of RM8.01 million from the disposal, with the proceeds allocated for general corporate purposes and to support LFG’s growth and strategic plans.

Shares in LFG gained three sen, or 3.4%, to 91 sen on Friday, giving the company a market capitalisation of RM732.9 million.