KUALA LUMPUR (Dec 15): Lianson Fleet Group Bhd (KL:LFG) announced two boardroom changes on Monday, both linked to its major shareholders.

Executive chairman Lim Chern Wooi has been redesignated as its managing director, while his elder brother Lim Chern Yuan has been appointed its non-independent, non-executive chairman. Chern Yuan also serves as group chief executive officer of Yinson Holdings Bhd (KL:YINSON).

Both are sons of Lianson’s controlling shareholders, Lim Han Weng and Bah Kim Lian, who collectively hold a 70.39% stake in the company. They acquired the controlling interest in Icon Offshore Bhd in March 2024, which was subsequently renamed as Lianson.

Financially, the group delivered stonger results. For the third quarter ended Sept 30, 2025 (3QFY2025), the group’s net profit rose 24.7% to RM24.24 million, from RM19.43 million a year earlier, as revenue grew 16.3% to RM82.07 million from RM70.58 million.

For the nine months ended Sept 30, total net profit surged to RM62.82 million from just RM2.62 million a year ago. Revenue for the period climbed 29.2% to RM204.05 million from RM157.93 million previously.

Shares in Lianson closed up one sen or 0.5% at RM1.96, valuing the group at RM2.2 billion. Year to date, the stock has nearly doubled in price.