KUCHING: Shin Yang Group Bhd (SYG) has secured 12 new shipbuilding and ship repair contracts in the 12 months to June 30, 2023 (FY23).
The five new shipbuilding contracts boosted the group’s shipbuilding division’s order book to RM175.7mil, while the seven ship repair contracts raised the ship repair division’s order book to RM89.3mil.
Group executive chairman Tan Sri Ling Chiong Ho said its shipbuilding segment has showed signs of a stable recovery path from the capital expenditures by the oil and gas industry players, coupled with improvement in crude oil prices.
...