KUALA LUMPUR (Dec 29): Shipping company Shin Yang Group Bhd (KL:SYGROUP) has promoted its chief operating officer (COO) Richard Ling Peng Ling to chief executive officer (CEO), effective Jan 1, 2026. 

Ling, 60, will assume leadership following the retirement of outgoing CEO Captain Ting Hien Liong in the shipping company that operates a fleet of up to 295 vessels across domestic and international waters.

"He [Ling] will be responsible to lead the group driving the group's strategic directions and expansion, leadership and performance, brand development and products evolution, with a focus on sustaining growth while enhancing long-term stakeholder value and corporate value," Shin Yang said in filing with Bursa Malaysia on Monday.

Ling has held various senior management roles in the group for nearly three decades across finance, treasury and operations. He joined in 1997 as an accountant at Forescom Plywood Bhd.

Ling was appointed COO position in 2023. His role will now be assumed by Jeremiah James Sadasivan, 48.

Meanwhile, the outgoing Captain Ting, 71 has also served nearly three decades with the group.

He joined the group in 1997 as general manager of subsidiary Shinline Sdn Bhd and has overseen the group’s shipping, shipbuilding, ship repair and metal fabrication operations since 2000 before being appointed group CEO.

Shares in Shin Yang closed unchanged at eight sen on Monday, valuing the group at RM960.04 million. Year to date, the stock has declined by more than 7%.