Malaysia’s Shin Yang Shipping Corporation has snapped up a 39% stake in ship agency and freight forwarder Melinau Shipping.
The share deal with Melinau's boss and biggest shareholder Ling Chiong Sing will cost Shin Yang MYR 682,500 ($218,000).
Melinau was formed in 1995 and operates at Miri, Sibu, Bintulu, Kuching, Port Klang and Kota Kinabalu, where Shin Yang’s vessels call.
The owner spoke of “synergistic benefits” to the deal.
Melinau
