Kuala Lumpur: Malaysia’s Shin Yang Shipping Corporation (Syscorp) is adding to its Indonesian shipping empire. Syscorp’s 99.5% owned subsidiary Shinline has acquired a 49% stake in Baruna Adiprasetya from Karan Line for RM1.35m.
Baruna Adiprasetya is a 26-year-old firm, engaged in the operation of arrangement of transportation of freight and cargo and forwarding agency. The acquisition is part of Syscorp’s group’s strategy to expand its shipping business into international waters. [03/07/14]