KUCHING: Shin Yang Shipping Sdn Bhd is acquiring a 5.37-hectare piece of leasehold land in Kota Kinabalu, Sabah, for RM26.6 million to support its warehouse expansion and logistics development plans.
The wholly-owned subsidiary of Shin Yang Group Bhd (SYGroup) has entered into a sale and purchase agreement (SPA) with Shin Yang Sdn Bhd (SYSB), the vendor of the property located off Sepangar Bay. The acquisition includes a workshop building situated on the land.
SYSB is primarily involved in timber operations, trading, investment in real estate, leasing of premises, and hiring of plant and machinery.
SYGroup said the purchase price was based on a “willing buyer, willing seller” basis and supported by an independent valuation conducted by CH Williams Talhar Wong & Yeo Sdn Bhd in July 2025.
The acquisition will be financed entirely through internally generated funds and is subject to approval from the Central Land Office, Kota Kinabalu, for the transfer of ownership to Shin Yang Shipping. The transaction is expected to be completed in the fourth quarter of 2025.
According to SYGroup, the acquisition will enable the company to enhance its logistics capacity, facilitate door-to-door services, and strengthen its position as an integrated logistics service provider.
“The property is strategically located within the Sepangar Bay industrial area, which will enhance SYGroup’s operational capacity and logistical efficiency,” it said in a statement.
The company added that owning the land will also reduce its rental dependency and minimise related-party transactions with SYSB.
“The proposed acquisition aligns with SYGroup’s long-term expansion strategy and is expected to contribute positively to its operational performance and asset base,” it added.
Separately, SYGroup announced the appointment of Choo Teck Kwang, 56, as its new chief procurement officer, effective November 1, 2025.
Choo, who joined Shin Yang Plywood Sdn Bhd in 2012 as head of procurement, has played a key role in developing and streamlining the group’s procurement processes.
“With his extensive experience in procurement management, Choo has consistently enhanced efficiency, transparency and cost-effectiveness across the group’s sourcing activities,” said SYGroup.
In his new role, Choo will oversee the group’s overall procurement functions, drive strategic initiatives, and support operational excellence.
