Latest news with #ChinHinGroupPropertyBhd
The Star
2 days ago
- Business
- The Star
Trading ideas: SD Guthrie, Chin Hin, Globetronics, KTI, Silver Ridge, PTT, Capital A, Enproserve, 3REN, TCS, TH, Pestec, CIMB
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. SD Guthrie Bhd has launched a B30 biodiesel pilot project to ensure a reliable and scalable supply of higher bio-content diesel for its plantation operations in Carey Island, Selangor. Chin Hin Group Property Bhd has provided additional information to Bursa Malaysia regarding its proposed acquisition of land for a high-rise development project with an estimated gross development value of RM685.1mn. Cash-rich Globetronics Technology Bhd 's latest investment is the RM45.1mn purchase of a 30.9% equity interest and 54.0% of Warrant C in loss-making Mpire Global Bhd . KTI Landmark Bhd has secured a RM130.6mn contract from the Construction Industry Development Board Malaysia to construct the Akademi Binaan Malaysia Sabah campus in Papar. Telecommunications services provider Silver Ridge Holdings Bhd said on Friday that its 51%-owned unit has secured a RM16.9mn contract from Elektron Berkat Sdn Bhd for the installation of underground cables. Construction outfit PTT Synergy Group Bhd has proposed to acquire 4.6 hectares of freehold land in Rawang, Selangor, for RM60mn to build a commercial warehouse. Capital A Bhd and Singapore-listed Food Empire Holdings have signed a strategic partnership to launch a new range of ready-to-drink beverages. Enproserve Group Bhd is expanding its crane services to boost its margins post-listing. 3REN Bhd's wholly-owned subsidiary Sophic Automation Sdn Bhd has inked a MoU with regards to its acceptance of a financial incentives package from Invest-In-Penang Bhd for the development of integrated circuits designs into products. TCS Group Holdings Bhd has proposed to place out up to 10% of its total issued shares to third-party investors to be identified to raise as much as RM8.5mn, primarily for working capital in four ongoing construction projects. TH Plantations Bhd, the plantation arm of Lembaga Tabung Haji, on Friday issued show cause letters to both its chief executive officer Mohamed Zainurin Mohamed Zain and chief financial officer Marliyana Omar due to alleged unauthorised payments totalling RM5.1mn made to plantation workers. Pestec International Bhd has announced that Lim Pay Chuan has ceased to serve as group chief executive officer after he issued a letter to the company alleging constructive dismissal. CIMB Group Holdings Bhd has redesignated Datuk Syed Zaid Syed Jaffar Albar as its independent and non-executive chairman, effective July 20, 2025.
The Star
15-07-2025
- Business
- The Star
Chin Hin acquires land for RM52mil
PETALING JAYA: Chin Hin Group Property Bhd has entered into a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd for the acquisition of a strategically positioned 6.49-acre parcel of freehold land located in Segambut, Kuala Lumpur for RM52mil. In a statement, the property developer said the acquisition transitions from a previous joint development agreement signed in April 2024, providing Chin Hin full ownership and development rights. 'The acquisition supports Chin Hin's ongoing strategy of expanding its property portfolio by securing strategically located land within high-potential areas of Kuala Lumpur,' the firm said. It said it plans to develop a high-rise development on the newly acquired land, subject to obtaining approvals.
The Star
15-07-2025
- Business
- The Star
Chin Hin acquires land in Segambut for RM52mil
PETALING JAYA: Chin Hin Group Property Bhd (CHGP) has entered into a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd for the acquisition of a strategically positioned 6.49-acre parcel of freehold land located in Segambut, Kuala Lumpur, for RM52mil. In a statement, the property developer said the acquisition transitions from a previous joint development agreement signed in April 2024, providing 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 said 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.'
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
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.
