Shin Yang Group Bhd is acquiring an 8.316-hectare industrial property in Kuching, Sarawak, for RM34 million as the group seeks to expand its logistics operations and reduce its reliance on rented premises.
The company said it entered into a sale and purchase agreement (SPA) with Forescom Plywood Sdn Bhd on Sept 4, 2026 for the acquisition of the leasehold land and buildings at Jalan Semangat, Pending Industrial Estate.
The property, held under Lot 2233, Section 66 of the Kuching Town Land District, comprises a single-storey office building, double-storey semi-concrete workers’ quarters, a double-storey workers’ quarters and store, a single-storey workshop and other buildings.
Shin Yang said the RM34 million acquisition will support the expansion of its logistics operations, particularly its door-to-door services.
The group intends to use the site for the development of a warehouse and container depot, strengthening its capabilities as an integrated logistics service provider.
The acquisition is also expected to reduce Shin Yang’s dependence on rented properties.
According to the company, owning the property instead of continuing to lease it from Forescom Plywood would reduce rental dependency as well as related-party transactions between the parties.
The Pending Industrial Estate location provides Shin Yang with an industrial property that can be developed to support the physical infrastructure required for its logistics activities.
The proposed warehouse and container depot would complement the group’s logistics operations as it seeks to provide more comprehensive door-to-door services.
At approximately 8.316 hectares, or 20.55 acres, the property provides a sizeable footprint for the group’s planned logistics development.
The transaction has been classified as a related-party transaction.
