The Board of Directors of Shin Yang Group Berhad ("SYGROUP" or "the Company") wishes to announce that its wholly-owned subsidiary, Shin Yang Shipping Sdn. Bhd. ("SYS" or "the Plaintiff"), filed a Writ and Statement of Claim dated 21 May 2026 through its advocates and solicitors, Messrs Sativale Mathew Arun against Petroschiff Marine Logistics Sdn. Bhd. ("the Defendant") in the High Court of Malaya at Kuala Lumpur (Civil Suit No. WA-27NCC-32-05/2026), a copy of the said Writ and Statement of Claim was received by SYGROUP on 29 May 2026.

1. Details of the Claim
   The action was commenced by the Plaintiff against the Defendant for, inter alia, the recovery of outstanding overdue charter hire for several sets of tug and barge, i.e. Tug Danum 50 and Barge Linau 129, Tug Kajang 10 and Barge Linau 133, Tug Danum 141 and Barge Linau 101, Tug Danum 82 and Barge Linau 92, Tug Danum 143 and Barge Linau 110, and related costs arising from contractual written charterparties (including addenda) between the parties.
    

   The Plaintiff is claiming as follows:-

   
   a) Charter hire for the Tug Danum 50 and Barge Linau 129 from September 2025 to March 2026 in the sum of RM 802,140.00;
   b) Charter hire and unpaid service tax for the Tug Kajang 10 and Barge Linau 133 from July 2025 to November 2025 in the sum of RM 280,878.66;
   c) Charter hire and unpaid service tax for the Tug Danum 141 and Barge Linau 101 from July 2025 to November 2025 in the sum of RM 268,907.46;
   d) Charter hire and unpaid service tax for the Tug Danum 82 and Barge Linau 92 from May 2025  to March 2026 in the sum of RM 954,979.20;
   e) Charter hire and unpaid service tax for the Tug Danum 143 and Barge Linau 110 from September 2025 to October 2025 in the sum of RM 250,560.00;
   f) Repair costs in the sum of RM 398,128.52;
   g) alternatively, damages to be assessed by the High Court Registrar;
   h) interest at the rate of 5% per annum from the date of Judgement till the date of full payment or realization; 
   i) costs; and 
   j) such other reliefs the Honourable Court deem fit, just and proper in the circumstances.

    

   The total sum of the claim is RM2,955,593.84 plus interest and other costs to be assessed by the Honourable Court.

    

   The Memorandum of Appearance was received by the Plaintiff through its advocates and solicitors on 8 June 2026 following the Defendant entering appearance on the same date.
   
    

2. Financial and Operational Impact
   The litigation was initiated by SYS for the recovery of amounts due and owing to SYS. As such, SYGROUP does not expect the commencement of the legal proceedings to have any material adverse financial and operational impact on SYGROUP.

    

3. Expected Losses, If Any
   SYGROUP does not expect any material losses to arise from the commencement of the legal proceedings. The Company will make further announcements on any material developments in relation to the litigation as and when necessary.

    

4.  Further Information
   SYGROUP will take the necessary steps through its solicitors to pursue the claim and safeguard the interests of SYGROUP.
   Any material developments in respect of the above litigation will be announced in due course in accordance with the applicable Bursa Malaysia Securities Berhad Listing Requirements.
    

   This announcement is dated 11 June 2026.