Chin Hin to buy stake in Aima

From left: Aima Construction Sdn Bhd chairman Khor Ooi Min, Aima Construction Sdn Bhd managing director Khor Ken Yeon, Chin Hin Group Property Bhd executive director Chiau Haw Choon and Chin Hin Group Property Bhd chairman Datuk Seri Chiau Beng Teik.

KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP) has proposed to acquire 45% stake in Aima Construction Sdn Bhd for RM31.5mil, aiming to transform into a major property and construction player in Malaysia.

It has inked a conditional share sale agreement with Uniplaza Sdn Bhd for the proposed acquisition of ordinary shares in Aima which would be fully satisfied via the allotment and issuance of up to 35.79 million new ordinary shares in CHGP at an issue price of 88 sen per share.