Last updated on August 23, 2025
KUALA LUMPUR (Aug 14): Chin Hin Group Property Bhd (KL:CHGP) will exit its commercial vehicle and bodyworks operations through the RM74 million sale of its entire stakes in four subsidiaries.
In a Bursa Malaysia filing, the group said the divestment is a strategic move to concentrate on its core property development business, unlock investment value, streamline operations, and boost financial flexibility.
The disposal is expected to generate a pre-tax gain of RM2.4 million. The four subsidiaries — Boon Koon Vehicles Industries Sdn Bhd, BKCV Sdn Bhd, Boon Koon Fleet Management Sdn Bhd, and BK Fleet Management Sdn Bhd — were acquired between 2004 and 2015 for a combined RM64.92 million, and collectively posted an unaudited profit after tax of RM125,318 for the period ended May 31, 2025.
The buyer, N&K Resources (M) Sdn Bhd, is a real estate company owned by All Trade Resources (Malaysia) Sdn Bhd.
CEO of Chin Hin’s property development arm, Chang Tze Yoong, said the proceeds will be channelled into acquiring landbanks in high-growth areas such as the Klang Valley, as well as supporting ongoing projects and other expansion opportunities.
“This transaction will also strengthen our cash reserves, improve liquidity, and enhance the group’s financial resilience,” he added.
Following the sale, Chin Hin will focus exclusively on residential projects in prime locations. Completion of the transaction is targeted for the first quarter of 2026.
On Thursday, Chin Hin’s shares fell two sen or 1.85% to RM1.06, giving the group a market capitalisation of RM1.4 billion. The stock is down nearly 7% year-to-date.
