PETALING JAYA, Shin Yang Group Bhd has announced the acquisition of a 5.37-hectare parcel of leasehold industrial land located off Sepanggar Bay, Kota Kinabalu, Sabah, along with an existing workshop building, for a total purchase consideration of RM26.6 million.
The acquisition is being carried out through its wholly owned subsidiary, Shin Yang Shipping Sdn Bhd, from a related company, Shin Yang Sdn Bhd. In a filing with Bursa Malaysia, the group said the transaction was finalised on a willing-buyer, willing-seller basis and supported by an independent market valuation.
Shin Yang Group stated that the purchase aligns with its long-term growth strategy to enhance operational efficiency and expand its logistics footprint in East Malaysia. The newly acquired property will serve as a key site for warehouse expansion and logistics development, enabling the group to strengthen its door-to-door delivery capabilities as a fully integrated logistics service provider.
“The acquisition also allows us to reduce reliance on leased facilities by transitioning toward property ownership, which provides greater cost stability and operational flexibility over the long term,” the company said.
The RM26.6 million acquisition will be fully financed through internal funds, reflecting the group’s strong balance sheet and prudent financial management. Shin Yang Group expects the new facility to contribute positively to the group’s earnings once operational, driven by improved logistics capacity and reduced rental costs.
Barring unforeseen circumstances, the group targets the completion of the transaction by the fourth quarter of its financial year ending 2025. The move underscores Shin Yang Group’s continued commitment to expanding its presence within Malaysia’s logistics and shipping sectors, particularly in Sabah, a region poised for growing industrial and trade activity.
