Chin Hin’s divestment in Solarvest a positive move

The transaction will see the construction and property-based group disposing of its 19.34% stake in Solarvest for RM103.28mil in cash or 80 sen per share.

PETALING JAYA: Chin Hin Group Bhd is expected to raise RM103.3mil in gross proceeds and netting a disposal gain of an estimated RM35.7mil from its proposed disposal of its entire stake in Solarvest Holdings Bhd, says Public Investment Bank Research.

The research house, however, is slightly negative on the deal considering the relatively low price transacted given the potential of the renewable energy space, but also noted that the current earnings of Solarvest has been tepid.