26/06/2026

BIZ & FINANCE FRIDAY | JUNE 26, 2026

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Battersea Power Station awards Phase 3C contract to Sisk

KUALA LUMPUR: Yinson Holdings Bhd, a global energy infrastructure company, saw group revenue decrease by 15% year-on-year to RM1.04 billion for Q1 ended April 30, 2026 (FY27). The decrease was mainly due to the absence of engineering, procurement, construction, installation, and com missioning (EPCIC) activities, which were contingent on construction progress. Further, this was partially offset by the asset’s operating contribution, as KUALA LUMPUR: Battersea Power Station, the 42-acre regeneration site owned by shareholders Sime Darby Property Bhd, SP Setia Bhd and the Employees Provident Fund (EPF), has awarded Sisk, an international construction and engineering company with operations across Ireland, the United Kingdom and mainland Europe, to construct the next phase of the Battersea project. Sisk will be responsible for constructing two new buildings designed by Gehry Partners, which will complete the neighbourhood’s new pedestrianised high street, Electric Boulevard, with works set to commence in the summer of 2026. Forming Phase 3C of the 42-acre master plan, the two buildings will comprise 300 new homes, 65,000 sq ft of new commercial space for shops, cafes, and restaurants, a 15,000 sq ft community hub, and an expanded bike hub with 600 spaces. The construction of Phase 3C is expected to create 400 jobs, with a target of 20% of the workforce from the local area. The target has been exceeded, with 7,500 jobs already created at Battersea Power Station. The two new Gehry Partners-designed buildings will extend the existing buildings at Prospect Place, which are fully sold and occupied, and will remain the only residential buildings in the UK designed by Frank Gehry. With a focus on sustainability, these latest designs will have a modern aesthetic to reduce the carbon footprint, while green roofs will also be present on both buildings, contributing to a minimum 10% biodiversity net gain. Battersea Power Station

o Construction of two buildings comprising 300 homes, commercial space, community centre and expanded bike hub

to RM1.05 billion in Q4 of FY26. Group Ebitda decreased by 9% to RM611 million, mainly due to higher FPSO operational costs and the absence of certain one-off items recognised in Q4 of FY26, while profit after tax decreased by 41% to RM148 million. This was mainly due to the same factors impacting group Ebitda, as well as a lower share of results of joint ventures and associates in the current quarter, primarily due to the absence of annual charter rate escalation on which dates back over 15 years, to respond to changes in expectations around lifestyle, leisure and workspace. The remaining half of the Battersea Power Station masterplan has the potential to deliver up to 3.2 million sq ft of residential, commercial, cultural and leisure space, and is one of the most exciting large-scale brownfield regeneration opportunities remaining in Central London, adding to over 2,200 homes, 800,000 sq ft of offices and 170 British and international brands already open at the riverside neighbourhood. Sisk chief operating officer for Ireland and UK Steven McGee said Battersea Power Station is one of London’s most iconic regeneration projects, and the company is proud to have been appointed as the main contractor for this next phase of development. “This is a significant appointment for Sisk and reflects our growing capability in the UK residential sector. “Together with our ongoing work at Great Ormond Street Children’s

the Agogo FPSO commenced its charter period on August 12, 2025. Group Ebitda increased by 5% to RM611 million, reflecting the same drivers as group revenue, while profit after tax increased by 10% to RM148 million, mainly due to operational contribution from the Agogo FPSO, partially offset by a lower share of results of joint ventures and associates. On a quarter-on-quarter basis, group revenue remained stable at RM1.04 billion in Q1 FY27 compared Development Company (BPSDC) CEO James Saunders said the announcement is an important milestone in realising the vision for this ambitious 42-acre regeneration site. “Phase 3C will complete Electric Boulevard, a critical part of the estate which continues to grow from strength to strength with new brand openings, office tenants and a new entrance to our Zone 1 Underground Station, which opened last year. “We look forward to working with Sisk to add two further Gehry Partners’ designed buildings to the inspiring, world-class architecture that defines Electric Boulevard and frames the iconic Grade II listed Power Station,” he said. The announcement of Sisk as the contractor for Phase 3C follows Battersea Power Station’s appointment of Studio Egret West as master planner, urban designer and landscape architect for the remaining 16 acres of the riverside neighbourhood. Studio Egret West will evolve the original Rafael Viñoly masterplan,

An indicative CGI of Phase 3C, delivering two new buildings designed by Gehry Partners.

established Yinson Production’s Shanghai office to support project execution and client engagement, and celebrated the keel-laying of FSO for Block B, which signals the start of construction, and celebrated the naming of FSO PTSC Lac Da Vang. “Meanwhile, Yinson GreenTech introduced 300 eDeliver 5 electric vans to the market in collaboration with Weststar Maxus and SAIC Maxus, accelerating EV adoption in Malaysia’s commercial sector. “ partners to create a sustainable impact in the Borough of Wandsworth,” he said. With more than £5 billion invested to date by the project’s Malaysian shareholders, Battersea Power Station has already been transformed from an industrial wasteland into a vibrant mixed-use neighbourhood and an internationally recognised destination for living, working and enjoying leisure time.

finance lease recognised in Q4 FY26 and higher utilisation of spares in Q1 FY27 for FPSO Anna Nery. Yinson Group executive chairman Lim Han Weng said the group delivered a steady performance in the first quarter of FY27, supported by long-term contracted revenues, a fully operational fleet, strengthened financial resilience, and a diversified platform across offshore production, renewables and green technologies. “During the quarter, we Hospital, Bermondsey, and the recently completed Silvertown and Wembley Park projects, it further strengthens our footprint in London and demonstrates the confidence clients are placing in Sisk to deliver complex projects at scale. “We will bring our expertise in modern methods of construction, offsite delivery and major project execution to Phase 3C, while working closely with BPSDC and local

Yinson Q1 Ebitda up 5% year-on-year as Agogo FPSO comes online