Latest news with #ChangTzeYoong
Barnama
15-07-2025
- Business
- Barnama
Chin Hin Buys 2.62 Hectares Of Land In Segambut For RM52 Mln
BUSINESS KUALA LUMPUR, July 15 (Bernama) -- Chin Hin Group Property Bhd has purchased 2.63 hectares of land in Segambut, Kuala Lumpur, for RM52 million. Its wholly-owned subsidiary, Chin Hin Property (Segambut) Sdn Bhd (CHPS), has entered into a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd for the acquisition of the said land. 'Originally planned as a collaborative development between CHGP and Kar Sin, the land will now be independently developed by CHGP into a residential or mixed development project. 'The acquisition supports CHGP's ongoing strategy of expanding its property portfolio by securing strategically located land within high-potential areas of Kuala Lumpur,' said Chin Hin. The developer said that CHGP plans to develop a high-rise development on the newly acquired land, subject to obtaining the necessary regulatory approvals. Chin Hin Group chief executive officer of the property development division, Chang Tze Yoong, said the transition from the previous joint development arrangement to full ownership of this prime land allows CHGP greater flexibility and control over the project's execution and marketing. 'Given the area's strong connectivity and market dynamics, we are confident this project will substantially contribute to our earnings growth,' he said. -- BERNAMA
Focus Malaysia
15-07-2025
- Business
- Focus Malaysia
Chin Hin expands Klang Valley landbank with RM52m Segambut land acquisition
CHIN Hin Group Property Bhd, (CHGP) has inked a sale and purchase agreement (SPA) with landowners New York Empire Sdn Bhd and Kar Sin Bhd to acquire a strategically located 6.49-acre parcel of freehold land in Segambut, Kuala Lumpur for RM52 mil cash. This acquisition made through the group's wholly owned subsidiary Chin Hin Property (Segambut) Sdn Bhd transitions from a previous joint development agreement signed in April 2024 which provided CHGP full ownership and development rights. Originally planned as a collaborative development between CHGP and Kar Sin, the land will now be independently developed by CHGP into a residential or mixed development project. The acquisition further supports CHGP's on-going strategy of expanding its property portfolio by securing strategically located land within high-potential areas of Kuala Lumpur. The Segambut land is well-connected by major highways, including the Duta-Ulu Klang Expressway (DUKE) and Jalan Ipoh, as well as public transportation such as KTM Komuter and MRT stations. The area is experiencing rapid urban growth and infrastructure improvements, making it highly attractive for residential and mixed-use developments. As such, CHGP plans to develop a high-rise development on the newly acquired land, subject to obtaining the necessary regulatory approvals. The project aims to meet the growing demand from young professionals, families and local businesses seeking integrated developments offering convenient living and lifestyle amenities. 'Transitioning from our previous joint development arrangement to full ownership of this prime land allows CHGP greater flexibility and control over the project's execution and marketing,' commented CHGP's group CEO (property development division) Chang Tze Yoong. 'Given the area's strong connectivity and market dynamics, we are confident this project will substantially contribute to our earnings growth.' Added Chang: 'The land's freehold tenure and favourable zoning conditions are poised to provide CHGP with significant flexibility to deliver an innovative, lifestyle-centric mixed-use development – a concept that has proven successful in key urban growth corridors. 'We are confident this project will substantially contribute to our earnings growth.' Aligned with CHGP's sustainable growth goals, this acquisition is expected to positively impact the group's long-term earnings while supporting its commitment to ESG (environment, social and governance) practices by creating environmentally-friendly and sustainable communities. At the close of today's market trading, CHGP was unchanged at RM1.07 with no share traded, thus valuing the company at RM1.41 mil. – July 16, 2025
The Sun
15-07-2025
- Business
- The Sun
Chin Hin Group Property expands Klang Valley landbank with RM52m Segambut land acquisition
KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP), a leading Malaysian property developer, today announced that its wholly-owned subsidiary, Chin Hin Property (Segambut) Sdn Bhd, signed a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd for the acquisition of a 6.49-acre parcel of freehold land located in Segambut, Kuala Lumpur, for RM52 million. This acquisition builds upon a previous joint development agreement signed in April 2024, granting CHGP full ownership and development rights. Originally planned as a collaborative development between CHGP and Kar Sin, the land will now be independently developed by CHGP into a residential or mixed development project. The acquisition supports CHGP's ongoing strategy of expanding its property portfolio by securing strategically located land within high-potential areas of Kuala Lumpur. CHGP group CEO Chang Tze Yoong said transitioning from the previous joint development arrangement to full ownership of this prime land allows the company greater flexibility and control over the project's execution and marketing. 'Given the area's strong connectivity and market dynamics, we are confident this project will substantially contribute to our earnings growth,' he said. The land in Segambut is well-connected by major highways, including the Duta-Ulu Klang Expressway (Duke) and Jalan Ipoh, as well as public transportation such as KTM Komuter and MRT stations. The area is experiencing rapid urban growth and infrastructure improvements, making it highly attractive for residential and mixed-use developments. CHGP plans to develop a high-rise development on the newly acquired land, subject to obtaining the necessary regulatory approvals. The project aims to meet the growing demand from young professionals, families, and local businesses seeking integrated developments offering convenient living and lifestyle amenities. The land's freehold tenure and favourable zoning conditions provide CHGP with significant flexibility to deliver an innovative, lifestyle-centric mixed-use development — a concept that has proven successful in key urban growth corridors. 'We are confident this project will substantially contribute to our earnings growth,' Chang said. Aligned with CHGP's sustainable growth goals, this acquisition is expected to positively impact the group's long-term earnings and support its commitment to ESG practices by creating environmentally friendly and sustainable communities.
