Since Chin Hin Group Bhd made its debut on Bursa Malaysia seven years ago, the Chiau family has been busy with corporate exercises, including the injection of its property development business into Boon Koon Group, which is now known as Chin Hin Group Property Bhd, as well as purchases of stakes in a few listed companies.
PETALING JAYA: Chin Hin Group Bhd has emerged as the single largest shareholder in Ajiya Bhd following a deal to acquire 72 million or about 24.68% equity interest in the building materials manufacturer for a total consideration of RM104.4mil.
Chin Hin Group buys 31% of Signature International phnompenhpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phnompenhpost.com Daily Mail and Mail on Sunday newspapers.
Chooi is the group executive director and a major shareholder of Signature.
The acquisition would allow Chin Hin to venture into kitchen, home and living solutions as compared to its focus on building materials currently, according to its managing director Chiau Haw Choon.
“Signature Group’s products are not only supplied to property development projects but also directly to consumers through its various retail outlets, which will enable the group to tap into the business-to-consumer segment.
“Synergistic benefits are expected to arise from the acquisition as both the group and Signature are operating in and servicing the same industry, namely the construction and property development industry, ” he said in a statement.
Malaysia's Chin Hin Group Bhd has added another listed company to its portfolio, following the acquisition of a 31.2 per cent stake in Malaysia’s largest kitchen cabinet and wardrobe manufacturer, Signature International Bhd.