Shin Yang To Diversify Into Auto Dealership With RM97.7 Million Acquisition Of Boulevard Motor
Shin Yang To Diversify Into Auto Dealership With RM97.7 Million Acquisition Of Boulevard Motor
Shin Yang Group has proposed to its board to diverify its business from shipping and add auto dealership as part of its holdings with the acquisition of Toyota brand dealer Boulevard Jaya, Boulevard Sabah and Boulevard Labuan for RM97.7 million.
Shin Yang Group已经向其董事会提出了打算从船舶业务中分散业务并新增汽车经销商作为其持有部分，并通过收购丰田品牌经销商Boulevard Jaya，Boulevard Sabah和Boulevard Labuan的方式支付RM9770万。
Upon signing of the share sale agreement, SYG will pay 10% of the purchase consideration in the form of cash, being approximately RM14.5 million to the Vendors. If the Toyota dealership agreements are renewed prior to the completion of the proposed acquisition, the parties have agreed that balance of the purchase consideration of RM83.2 million will be satisfied upon the completion the deal. However the deal will be aborted if the dealership is not obtained with the amount paid to be refunded.
在签署股份销售协议后，SYG将以现金的形式支付购买金额的10％，即约RM1450万给卖方。如果在拟议收购完成前丰田经销商协议得以续签，双方已同意在交易完成时支付剩余购买金额的RM8320万。但如果未能获得经销权，则此交易将被中止并返还已支付的金额。
The group said barring any unforeseen circumstances and subject to the proposed acquisition being approved by the non-interested shareholders of the company, the board said it anticipates that the new automotive dealership business from acquiring the target companies may contribute 25% or more of the net profit of the group going forward.
该集团表示，在没有不可预见情况的情况下，并且在公司非利益相关股东批准拟议获得目标公司后，董事会预计从获得目标公司的新汽车经销商业务可能为该集团的净利润做出贡献，为25％甚至更高。
SYG is principally involved in domestic, regional and international shipping, shipbuilding, ship repair, ship repowering, and refitting and fabrication of metal structures and deemed to be highly dependent on the Shipping Business, and Shipbuilding accounting more than 90% of the Group's total revenue for the past 3 years.
SYG主要涉足国内、区域和国际航运、造船、修船、升级船只、金属结构物的翻新和制造，并被认为高度依赖船舶业务，船舶和造船业务在过去3年中占集团总收入的90％以上。
The proposals it said provide the group with the opportunity to expand and diversify its product offering and reduce reliance on its existing business. Although the group is currently not involved in automotive dealership business, the board said it believes that SYG has the capability and resources to diversify into the automotive dealership business by leveraging on the experience of its directors namely Ling Chiong Sing and Dennis Ling Lu Jing who are also directors of the target companies and have experience in the automotive dealership business.
董事会表示，这些提议为集团提供了扩展和多样化其产品供应以减少对现有业务的依赖的机会。尽管集团目前未参与汽车经销商业务，但董事会认为SYG具有通过利用其董事，即林忠成和Dennis Ling Lu Jing的经验，他们也是目标公司的董事并具有汽车经销商业务经验，进军汽车经销商业务的能力和资源。
The board said it is of view that the Proposed Diversification will be beneficial to the Group's financial performance and reduce reliance on the Group's existing businesses.
董事会认为，拟议多样化将对集团的财务表现有益，并减轻集团现有业务的依赖性。