KUALA LUMPUR (March 10): Chin Hin Group Property Bhd (CHGP) is looking to diversify its business to include construction through the acquisition of a 45% stake in Aima Construction Sdn Bhd for RM31.5 million. The group is currently involved in the assembly and sales of new and rebuilt commercial vehicles and property development.
CHGP said the proposed acquisition will enable the group to tap into the construction industry, which is complementary to its existing property development business.
CHGP has entered into a conditional share sale agreement with Uniplaza Sdn Bhd for the proposed acquisition, which will be fully satisfied via issuance of up to 35.8 million new shares in CHGP at an issue price of 88 sen per share. The