Shin Yang Shipping Corporation Berhad (KLSE:SYSCORP) commences share repurchases on January 18, 2018 under the program mandated by the shareholders in the Annual General Meeting held on December 5, 2017. As per the mandate, the company is authorized to repurchase shares such that the company’s holding in treasury does not exceed 3.33% of its issued and paid up share capital of the company. The repurchase program will be funded from internally generated funds and/or bank borrowings and the maximum fund to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits and share premium account of the company. The share repurchase program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the Bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the directors of the company. The company shall retain the purchased shares as treasury shares for future resale to realize gains and/or cancellation subsequently and/or for distribution as dividends to the shareholders of the company or retain part of the purchased shares as treasury shares and cancel the remainder.