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 will be between Jan 2, 2028 and 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,” it said.
Shin Yang said risk factors affecting the agreement included execution risks such as availability of materials, changes in prices of materials, availability of skilled manpower, changes in economic and regulatory conditions.
