PETALING JAYA: Shin Yang Group Bhd
is acquiring a 5.37-hectare parcel of leasehold industrial land off Sepanggar Bay, Kota Kinabalu, Sabah, together with a workshop building, for RM26.6mil from a related company, Shin Yang Sdn Bhd.
The deal, inked via its wholly owned subsidiary Shin Yang Shipping Sdn Bhd, “was arrived at on a willing buyer, willing seller basis, supported by an independent valuation,” the group said in a filing to Bursa Malaysia.
The company said the purchase aims to support warehouse expansion and logistics development for door-to-door services as an integrated logistics service provider, while also reducing rental dependency by owning rather than leasing the facility.
Funded entirely through internal resources, Shin Yang Group is expecting the acquisition to contribute positively to future earnings, with the group adding that barring unforeseen circumstances, the transaction is targeted for completion by the fourth quarter of 2025.
