KUCHING: Shin Yang Shipping Sdn Bhd has sued Petroschiff Marine Logistics Sdn Bhd for recovery of outstanding overdue charter hire for several sets of tug and barge for about RM2.955 million.
The wholly-owned subsidiary of Shin Yang Group Bhd (SYG) filed a writ and statement of claim dated May 21, 2026 against Petroschiff (defendant) in the Kuala Lumpur High Court through its advocates and solicitors Messrs Sativale Mathew Arun.
The action was commenced by the plaintiff against the defendant for inter alia, the recovery of outstanding overdue charter hire for several sets of tug and barge ,i.e Tug Danum and Barge Linau 129 (from September 2025 to March 2026) for RM802,140; charter hire and unpaid service tax for Tug Kajang 10 and Barge Linau 133 (from July 2025 November 2025) for RM280,878; charter hire and unpaid service tax for Tug Danum 141 and Batrge Linau 101 (July 2025 to November 2025) for RM268,907; charter hire and upaid service tax for Tug Danum 82 and Barge Linau 92 (May 2025 to March 2026) for RM954,979; charter hire and unpaid service tax for Tug Danum 143 and Barge Linau 110 (from September 2025 to October 2025) for RM250,560.
Shin Yang Shipping also claimed for repair costs of RM398,128, alternatively, damages to be assessed by the High Curt Registrar, and interest at the rate of five per cent per annum from the date of judgement till the date of full payment, costs and such other reliefs the court deem fit, just and proper in the circumstances, SYG said in a filing with Bursa Malaysia.
The total sum of claim amounted to RM2.955 million plus interest and other costs to be assessed by the court.
“The memorandum of appearance was received by the plaintiff through its advocates and solicitors on 8 June 2026 following the defendant entering appearance on the same date,” added SYG.
SYG said the group does not expect the commencement of the legal proceedings to have any material adverse financial and operational impact to the group.
“SYG group will take the necessary steps through its solicitors to pursue the claim and safeguard the interest of the group.
Any material developments in respect of the above litigation will be announced in due course in accordance with the applicable Burs Malaysia Securities Bhd listing requirements,” it added.
Separately, property developer Naim Holdings Bhd has continued to buy back its own shares totalling 1,035,000 units at prices 71sen to 72sen from May 28 to June 10,2026 for a total of RM745,708.
On June 11, the company bought back another 191,000 shares at prices of between 72.5sen and 73sen for RM139,646 from the open market.
This increased the company’s number of treasury shares to about 17.1 million shares (3.3264%), according to Naim’s filing with the local bourse.
The last round of buy-back was from April 15 to April 24, 2026 when Naim acquired 2,069,100 shares from the open market at prices ranging from 66.5sen to 75sen for about RM1.48 million.
On a 52-week basis, Naim shares were traded between low of 61sen and high of 98.5sen.
Naim’s largest shareholder is managing director Datuk Hasmi Hasnan, who owns a 38.2 per cent stake while chairman Datuk Amar Abdul Hamed Sepawi has a shareholding of 19.85 per cent as at March 31, 2026.
In financial year 2025, Naim posted group net profit of RM28.4 million on revenue of RM196.8 million.
