PETALING JAYA: Shin Yang Group Bhd
has entered into a sale and purchase agreement with DESB Marine Services Sdn Bhd for the construction, build and sale of a 91M maintenance / work vessel worth RM117.7mil.
In a filing with Bursa Malaysia, Shin Yang, which is primarily involved in shipping loose bulk and container cargoes, said the delivery date of the vessel shall be between Jan 2, 2028 to Jan 10, 2028.
“The purchase consideration was arrived at on a willing buyer-willing seller basis taking into account the vessel’s specifications, construction costs and prevailing market rates and conditions.”
Shin Yang said risk factors affecting the agreement include execution risks such as availability of materials, changes in prices of materials, availability of skilled manpower, changes in economic and regulatory conditions.
“The company ensures strict compliance with all relevant conditions and procedures in the performance of its obligations under the agreement.”
DESB Marine Services is principally engaged in the provision of marine vessel chartering services.
