PETALING JAYA: Chin Hin Group Bhd
has acquired substantial stakes totalling RM51.5mil in two data centre specialist firms.
In a filing with Bursa Malaysia, the company said it had acquired 500,500 shares or 65% in Critical System Specialist Sdn Bhd for RM41.21mil and 195,000 shares or 65% in CSS Engineering and Construction Sdn Bhd for RM10.30mil.
Chin Hin said it had entered into a conditional share sale agreement with Liew Choon Fui, Teng Bee Ling and Ho John Chan for the acquisitions in the two companies.
“The target companies are data-centre specialists providing solutions in engineering and construction work.
“As such, the company believes that the proposed acquisitions will allow the company to expand its offerings, increase its revenue and earnings and grow additional income streams,” it said.
The proposed acquisitions will position the firm as a leading player with distinct market advantages.
