Chin Hin secures contract worth RM238mil

The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.

KUALA LUMPUR: Chin Hin Group Bhd has secured a contract worth RM238.3mil from Saujana Vision for the construction of an integrated workers complex with comprehensive facilities in Pengerang, Johor. 

In a filing with Bursa Malaysia, Chin Hin said its indirect wholly owned subsidiary, Metex Modular Sdn Bhd had accepted a letter of award from Saujana Vision for the construction works. 

The contract is for a period of 12 months commencing Jan 1, 2018.

“The contract is not expected to have any effects on the share capital and shareholding structure of the company.  However, it is expected to have positive contribution to the earnings per share, net assets per share and gearing of the Chin Hin group,” it said. 

The group intends to fund the contract via internally generated funds and/ or external borrowing.