Energy tycoon Lim Hang Weng and his family are in talks with Malaysia’s Employees Provident Fund and shipping firm MISC to buy the rest of Kuala Lumpur-listed Yinson Holdings in a potential deal valuing the company at 6.9 billion ringgit ($1.7 billion).

Yinson Legacy—the Lim family’s privately held holding company—and EPF are among the biggest shareholders of Yinson Holdings, which Lim and his wife, Bah Kim Lian, started in 1984 as a transport and........

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