Stay updated with breaking news from Chin hin group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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. ....
(CHGP). The proposed acquisition is deemed a related party transaction with the shares representing 51.5 per cent equity interest and 37.56 million warrants in CHGP worth RM88.86 million. Chin Hin has also proposed to undertake a bonus issue of up to 278.194 million new ordinary shares on the basis of one bonus share for every two ordinary shares in Chin Hin held at an entitlement date to be determined later. In a filing with Bursa Malaysia today, the company said after the acquisition is completed, Chin Hin will be obliged to undertake a mandatory take-over offer for all the remaining CHGP shares and CHGP warrants not already owned by Chin Hin and parties acting in concert with it. ....