Building material maker Chin Hin sells assets to deputy executive chairman, MD to raise cash

KUALA LUMPUR: Building materials maker Chin Hin Group Bhd is selling off its assets in Negri Sembilan, Kedah and the Klang Valley for RM76.45mil to raise cash proceeds which can be channelled towards the group's business operations.

The assets were sold to a company controlled by its substantial shareholder PP Chin Hin Realty (PP CH Realty), which is in turn owned by Chin Hin Group deputy group executive chairman Datuk Seri Chiau Beng Teik and group managing director Chiau Haw Choon.