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Chin Hin Group Property Unit Buys Property Worth MYR93 Million

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Chin Hin Group Property (KLSE:CHGP) unit Chin Hin Property (Tebrau) agreed to purchase an industrial property in Selangor Science Park 1, Malaysia, for 92.5 million ringgit in cash, according to a Wednesday Malaysian bourse filing.

The leasehold property, which comprises a warehouse, factory and supporting facilities, will be redeveloped into a logistics warehouse hub with about 322 industrial units.

The project carries an estimated gross development value of 612 million ringgit and is expected to be completed by the end of 2030.

The company said the acquisition supports its expansion strategy.

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