KUCHING: Shin Yang Group Bhd
has committed another RM101mil for capital expenditure (capex), which will be financed by internal resources.
The allocation is higher than RM90.6mil in capex spent by the group in financial year ended June 30, 2025 (FY25), according to Shin Yang in its 2025 annual report.
Miri-based Shin Yang is mainly involved in international and domestic shipping, shipbuilding and ship repair, transport and logistics as well as automotive dealership in Sarawak, Sabah and Labuan.
To meet the growing demand for integrated logistics services, Shin Yang said the group is actively exploring the expansion of its logistics infrastructure, including investments in container depots, haulage services and warehousing facilities.
“These initiatives are expected to enhance service offerings, create synergies with our shipping business and strengthen our value chain,” added the company.
“Currently, the group’s transport and logistics capabilities are supported by a fleet of 338 prime movers paired with 1,031 trailers, 266 dump and cargo trucks as well as 44 tankers for diesel and crude palm oil.
“This comprehensive fleet allows us to efficiently move a wide range of goods across Sabah and Sarawak, ensuring reliable, end-to-end delivery from source to destination,” said Shin Yang.
In shipping operations, the group operates a fleet of 186 vessels with a total gross tonnage of 308,000 tonnes to service Malaysian and international destinations, reaching across South-East Asia, East Asia and the broader Far East Region.
According to chairman Tan Sri Ling Chiong Ho, the continued growth of the coastal and container shipping business had contributed to the group’s strong financial performance in FY25 as evident by a 96.7% surge in revenue to RM1.89bil (FY24: RM959.8mil) and 63% increase in after-tax profit of about RM184.3mil from RM113.4mil previously.
“The coastal and container shipping division sustained its upward momentum, achieving a 5.6% increase in vessel utilisation year-on-year (y-o-y).
“This was supported by stronger anchor cargo volumes and the expansion of integrated logistics solutions, including door-to-door delivery, depot management and warehousing services,” he said.
Y-o-y, the shipping division’s revenue jumped to RM728.3mil from RM693.1mil, driving pre-tax profit sharply higher to about RM114mil from RM88.7mil, but the logistic division’s revenue dipped marginally to RM51.95mil from RM52.8mil before and pre-tax profit fell to RM5.4mil from RM6.5mil.
The newly acquired Toyota dealership under the automotive segment was the biggest revenue earner, contributing about RM888.6mil to group turnover and pre-tax profit of RM64.4mil.
This is not applicable to FY24 as the acquisition amounting to RM144.5mil was completed on Oct 1, 2024.
In FY25, Shin Yang operated 19 container vessels servicing major ports between Sarawak, Sabah, Peninsular Malaysia, Singapore, Thailand and Vietnam.
“We sustained regular sailings with our container vessels, including two vessels with capacities of 1,100 to 1,200 twenty-foot equivalent unit servicing international routes, alongside domestic services connecting strategic ports.
This operational stability has enabled the group to meet customer demand effectively while optimising vessel utilisation amid ongoing market fluctuations.
“Looking ahead, the group remains committed to exploring further strategic alliances and operational enhancement to increase service frequency and scale,” said the company’s management.
Reviewing the performance of the group’s shipbuilding business, Shin Yang said it had shown promising signs of recovery, supported by increased capex from key players in the oil and gas sector.
The group completed and delivered two new vessels to clients during the year.
“Our current order book stands at RM472mil, anchored by nine new build contracts and letter of intent secured to-date. This healthy pipeline highlights the group’s strong market position and ability to capitalise on the growing demand within the shipbuilding industry.
“We remain confident in sustaining this positive momentum.”
Y-o-y, the group’s ship repair division completed both minor and major repairs on 895 vessels, a sharp increase from 556 vessels.
“Our ship repair operations remain active and resilient, with a steady pipeline of projects reflecting ongoing demand for both routine maintenance and major refurbishments particularly for ageing offshore supply vessels or OSVs.
“The group will continue to leverage its dockyard capacity and technical expertise to meet evolving client needs while managing costs structures and operational efficiency,” said Shin Yang. The group’s two floating docks, measuring 160m and 80m, provide efficient and timely repair and maintenance services for ships.
On the market outlook for its automotive business under the Boulevard Group, Shin Yang said it was optimistic about its growth prospects, given that the Toyota dealership represents a well-established brand with vehicles consistently ranking among Malaysia’s top five best-selling models.
The group anticipates long-term synergies between its automotive, logistics and maritime operations, including cross-segment service integration and market expansion.
Commenting on prospects going forward, Ling said supported by ongoing infrastructure development and economic progress in Sarawak, the group is well-positioned to capitalise on emerging opportunities across various sectors.
“These developments are expected to drive demand for logistics and related services, further strengthening the group’s market presence and operational synergies,” he added.
