This article first appeared in The Edge Malaysia Weekly on August 17, 2026 - August 23, 2026

Shin Yang Group Bhd (KL:SYGROUP) returned to The Edge Malaysia Centurion Club Corporate Awards 2026 to once again take home the award for Highest Returns To Shareholders Over Three Years, as its share price continued to outperform peers in the transport and logistics sector.

This marks the Sarawak-based shipping and shipbuilding group’s third win since bagging the same award last year and in the inaugural edition of the awards in 2019.

The 2019 achievement was largely due to the group’s solid financial performance in the financial year ended June 30, 2018 (FY2018), when its net profit jumped nearly sixfold to RM28.7 million (check) from RM5.4 million in FY2017. Following two years of losses in FY2019 and 2020 — owing to a collapse in the offshore oil and gas sector that triggered a major asset writedown as well as Covid-19-related disruptions — the group turned around in FY2021 with a net profit of RM17.1 million. The bottom line then surged more than eightfold to RM141.9 million in FY2022, before hitting a record high of RM180.9 million in FY2023 as the global shipping and logistics sector enjoyed the tail end of the post-pandemic supercycle.

While the company’s net profit moderated to RM110.6 million in FY2024 as global supply chains smoothed out and shipping freight rates normalised, it rebounded in FY2025 to RM164.9 million as revenue surged past its previous record high of RM957.82 to RM1.89 billion, boosted by Shin Yang’s expansion into automotive dealership.

Between FY2023 and FY2025, the assessment period for the latest Centurion Club awards, Shin Yang recorded a net profit compound annual growth rate (CAGR) of 6.2%, based on the awards methodology. Weighted return on equity during the period came in at 11.7%.

Shin Yang’s share price (adjusted, extracted on April 1, 2026) at end-March over the last three years showed steady growth: 46.8 sen (2023), 54.5 sen (2024), 70.9 sen (2025) and 74 sen (2026) — yielding shareholder returns CAGR of 9.9%, beating its peers in the sector.

The group operates 183 vessels with a combined gross tonnage of 297,059 tonnes and three shipyards — two in Miri and one in Bintulu — with a total area of 280 acres. Capable of building up to 40 vessels a year, Shin Yang also has a 214-acre parcel in Tanjung Manis, acquired in 2007, intended for future expansion.

In October 2024 (2QFY2025), the Ling family, which controls Shin Yang, injected part of its East Malaysia Toyota and Lexus car dealership business into the group for RM144.5 million. The deal expanded the group’s footprint into vehicle retail and servicing.

“The group ends the 2025 financial period with a firm operational foundation and a strategic focus on growth and diversification. While macroeconomic headwinds such as global fuel price volatility, currency fluctuations and evolving trade dynamics continue to shape the operating environment, the group maintained its position well while tackling these challenges and capitalised on emerging opportunities across its core and diversified businesses,” Shin Yang said in its 2025 annual report.

“The management remains confident in the group’s strategic direction, operational resilience and ability to create sustainable long-term value. The group will continue to build on its core strengths, diversify prudently and execute its long-term plans to drive growth across all business segments in the years ahead.”

Shin Yang, via its shipbuilding arm, could be the beneficiary of a number of offshore support vessel operators looking to build assets as the regional fleet is ageing and new tonnage is needed.

Listed on Bursa Malaysia’s Main Market, Shin Yang’s shares are trading at a low price-earnings ratio of about 5.5 times. It has a clean balance sheet and zero gearing, according to Ask Edge, making its profile attractive compared with some of its loss-making peers.

Shin Yang is 56.15%-controlled by Shin Yang Holding Sdn Bhd, the private vehicle of low key businessman Tan Sri Ling Chiong Ho, 74, who is the executive chairman of Shin Yang. Ling is involved in a number of businesses, including reforestation, wood-based downstream activities, property development, infrastructure projects and public toll concession, hypermarkets and hotel businesses. He also has about 35% equity interest in plantation company Sarawak Oil Palms Bhd (KL:SOP), which is also listed on the Main Market.

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