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已經向其董事會提出了打算從船舶業務中分散業務並新增汽車經銷商作爲其持有部分，並通過收購豐田品牌經銷商Boulevard Jaya，Boulevard Sabah和Boulevard Labuan的方式支付RM9770萬。
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.
在簽署股份銷售協議後，SYG將以現金的形式支付購買金額的10％，即約RM1450萬給賣方。如果在擬議收購完成前豐田經銷商協議得以續簽，雙方已同意在交易完成時支付剩餘購買金額的RM8320萬。但如果未能獲得經銷權，則此交易將被中止並返還已支付的金額。
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.
該集團表示，在沒有不可預見情況的情況下，並且在公司非利益相關股東批准擬議獲得目標公司後，董事會預計從獲得目標公司的新汽車經銷商業務可能爲該集團的淨利潤做出貢獻，爲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主要涉足國內、區域和國際航運、造船、修船、升級船隻、金屬結構物的翻新和製造，並被認爲高度依賴船舶業務，船舶和造船業務在過去3年中佔集團總收入的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.
董事會表示，這些提議爲集團提供了擴展和多樣化其產品供應以減少對現有業務的依賴的機會。儘管集團目前未參與汽車經銷商業務，但董事會認爲SYG具有通過利用其董事，即林忠成和Dennis Ling Lu Jing的經驗，他們也是目標公司的董事並具有汽車經銷商業務經驗，進軍汽車經銷商業務的能力和資源。
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.
董事會認爲，擬議多樣化將對集團的財務表現有益，並減輕集團現有業務的依賴性。