Chin Hin emerges as single largest shareholder in Ajiya with 24.68% stake

KUALA LUMPUR: Chin Hin Group Bhd has emerged as the single largest shareholder in Ajiya Bhd following a deal to acquire 72 million or about 24.68% equity interest in the building materials manufacturer for a total consideration of RM104.4mil.

In a bourse filing, the construction and property group said it had penned a conditional share sale agreement with Ajiya's existing largest shareholder and managing director Datuk Chan Wah Kiang and Avia Kapital Sdn Bhd to acquire the shares, which are valued at RM1.45 apiece.