THE STORY OF A SUCCESSFUL 55 YEAR OLD PLANTATION COMPANY IN SARAWAK

In 1968 the Ling family started a small plantation company milling a mere 9 tonnes per hour. 55 years on, Sarawak Oil Palms Berhad (SOP) has 42 estates, a land bank of 122,000 hectares in Sarawak, 7 palm oil mills and a downstream complex. For FYE 31 December 2023 SOP reported total revenue of RM 5.124 billion and profit before tax of RM 420.7 million. 

Tan Sri Datuk Ling Chiong Ho, 70, vacated the chair at SOP for his eldest son, Ling Lu Kuang (46), in March 2022 to focus on the expanding business of Shin Yang Shipping Corporation Berhad (Shin Yang). Both SOP and Shin Yang are controlled by him. Shin Yang owns and operates a fleet of more than 220 vessels plying between Sarawak and Singapore and between West Malaysia and Sabah and Sarawak. It is also a shipbuilder. Founder Tan Sri Ling began building small tug boats in the early 1990s.

Lu Kuang joins the growing New Generation that is helming listed family controlled companies on Bursa Malaysia. He is one of the youngest Group Executive Chairman on the list. Lu Kuang joined the SOP Board as Executive Director in 2008. He has deemed interest in 11.11% of SOP issued shares. 

Lu Kuang graduated from the University of Auckland with a Bachelor of Commerce degree and has worked more than 15 years as executive director in various divisions of the Shin Yang Group of companies. His elder sister, Ling Pau Pau (48), a Chartered Accountant, is non-executive Director at SOP. Younger brother Datuk Ling Lu Kiong, 42, is Group Executive Vice-Chairman of Shin Yang. The father holds the post as Group Executive Chairman.

ACKNOWLEDGEMENTS

1. Shin Yang Group Berhad. 2023 Annual Report. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=229346&name=EA_DS_ATTACHMENTS
2. Shin Yang Shipping Corporation Berhad. 25 February 2022. https://www.shinyanggroup.com.my/images/documents/newsroom/Change_in_Corporate_information/Change_in_Boardroom_-_Datuk_Ling.pdf
3. The Star. 6 Nov 2023. Jack Wong. https://www.thestar.com.my/business/business-news/2023/11/06/shin-yangs-shipbuilding-business-on-the-rise
4. Shin Yang Group Berhad. https://www.shinyanggroup.com.my/corporate/history.html
5. Borneo Post. 24 Nov 2019. Ronnie Teo. https://www.theborneopost.com/2019/11/24/eoys-2019-celebrating-the-best-of-corporate-sarawak/
6. Borneo Post. 11 Sept 2014. https://www.theborneopost.com/2014/09/11/shin-yang-doing-its-bit-for-planted-forest-in-a-big-way/
7. The Edge Malaysia. 11 July 2024. Luqman Amin. https://theedgemalaysia.com/node/718661
8. Hellenic ShippingNews Worldwide. 7 Nov 2023. https://www.hellenicshippingnews.com/shin-yangs-shipbuilding-business-on-the-rise/
9. The Edge Malaysia. 18 July 2016. Jose Barrock. https://theedgemalaysia.com/article/sarawak-oil-palms-make-large-acquisition
10. Shin Yang Group. 25 Feb 2022. https://www.shinyanggroup.com.my/news-articles/86-shin-yang-shipping-appoints-ling-lu-kiong-as-executive-vice-chairman.html
11. Sarawak Oil Palms Berhad. 2023 Annual Report. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=233665&name=EA_DS_ATTACHMENTS