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The Star

Shin Yang acquires land in Sarawak for RM12.05mil

PETALING JAYA: Shin Yang Group Bhd is acquiring a parcel of leasehold land together with a warehouse building, measuring approximately 1.9469 hectares in Kuching, Sarawak from Forescom Plywood Sdn Bhd for RM12.05mil. In a filing with Bursa Malaysia, the company, which is involved in the shipping of loose bulk and container cargoes, said the acquisition will support its warehouse expansion and logistics development for door-to-door services as a complete logistic service provider. Shin Yang added that the acquisition will also facilitate future expansion of warehousing facilities on the land and reduce rental dependency and related party transactions by acquiring instead of leasing from Forescom Plywood. 'The property is strategically located within the industrial hub of Kuching and Kuching Port Region, Sarawak. This will enhance the group's operational capacity and logistical efficiency. 'The acquisition aligns with the group's long-term expansion strategy and is expected to contribute positively to its operational performance and asset base.'