Latest news with #ShinYang
The Star
3 days ago
- Business
- 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.'
New Straits Times
27-05-2025
- Business
- New Straits Times
Shin Yang's unit receives LOI from Home Affairs Ministry for completion offshore patrol vessels
KUALA LUMPUR: Shin Yang Group Bhd's (Shin Yang) wholly-owned subsidiary, Shin Yang Shipyard Sdn Bhd, has received a Letter of Intent (LOI) from the Ministry of Home Affairs to appoint as a contractor for works on offshore patrol vessels (OPVs). In a filing with Bursa Malaysia today, Shin Yang said the LOI expresses the intention of the Ministry of Home Affairs to appoint Shin Yang Shipyard as the contractor for the completion of the remaining works on OPV 2 and OPV 3 for the Malaysian Maritime Enforcement Agency (MMEA). "The issuance of the LOI is subject to further discussions and negotiations between the Ministry of Home Affairs and Shin Yang Shipyard regarding specific terms of the proposed shipbuilding contract," it said. Shin Yang said the LOI does not constitute a legally binding commitment by the Ministry of Home Affairs, and there is no certainty that a definitive contract will be awarded to Shin Yang Shipyard. "The potential shipbuilding contract, if awarded, is expected to contribute positively to the group's earnings and net assets for the duration of the project. "However, the exact financial impact can only be determined upon finalisation and execution of the definitive contract," it added. -- BERNAMA
Malaysian Reserve
27-05-2025
- Business
- Malaysian Reserve
Shin Yang in line to build two patrol vessels for maritime agency
SHIN Yang Group Bhd said that its subsidiary, Shin Yang Shipyard, has received a letter of intent (LOI) from the Ministry of Home Affairs to construct two offshore patrol vessels (OPV 2 and OPV 3) for the Malaysian Maritime Enforcement Agency (MMEA). The group said the LOI, received on May 20, expresses the government's intention to appoint the shipyard for the project, although a binding contract will only be signed after final negotiations on pricing and payment terms. While the LOI is not legally binding, the group noted that a successful award could enhance its earnings and asset base. Shin Yang also acknowledged potential risks, including project delays, regulatory changes, execution challenges, and manpower and material availability. Shares in Shin Yang Group rose 2.5 sen or 3.38% to close at 76.5 sen today, giving it a market capitalisation of RM830.5 million. — TMR
The Star
27-05-2025
- Business
- The Star
Shin Yang's unit receives LOI for offshore patrol vessel work
KUALA LUMPUR: Shin Yang Group Bhd 's (Shin Yang) wholly-owned subsidiary, Shin Yang Shipyard Sdn Bhd, has received a Letter of Intent (LOI) from the Ministry of Home Affairs to appoint as a contractor for works on offshore patrol vessels (OPVs). In a filing with Bursa Malaysia today, Shin Yang said the LOI expresses the intention of the Ministry of Home Affairs to appoint Shin Yang Shipyard as the contractor for the completion of the remaining works on OPV 2 and OPV 3 for the Malaysian Maritime Enforcement Agency (MMEA). "The issuance of the LOI is subject to further discussions and negotiations between the Ministry of Home Affairs and Shin Yang Shipyard regarding specific terms of the proposed shipbuilding contract,' it said. Shin Yang said the LOI does not constitute a legally binding commitment by the Ministry of Home Affairs, and there is no certainty that a definitive contract will be awarded to Shin Yang Shipyard. "The potential shipbuilding contract, if awarded, is expected to contribute positively to the group's earnings and net assets for the duration of the project. "However, the exact financial impact can only be determined upon finalisation and execution of the definitive contract,' it added. - Bernama
