PETALING JAYA: Chin Hin Group Property Bhd
has, through Chin Hin (Tebrau) Sdn Bhd, entered into a sales and purchase agreement with Simm Ventures Sdn Bhd for property in Kota Damansara for a total cash consideration of RM92.5mil.
Chin Hin Property (Tebrau) is a wholly- owned subsidiary of BKG Development Sdn Bhd, which in turn is a wholly-owned subsidiary of Chin Hin Group Property.
In a filing with Bursa Malaysia, the group said it plans to acquire a detached single storey warehouse and factory annexed with a two-storey office, a Tenaga Nasional Bhd sub-station, a detached two-storey canteen and dormitory building, a guard post and a refuse chamber situated on leasehold land in Selangor Science Park 1, measuring about 21,578 sq m.
Chin Hin Property (Tebrau) plans to develop the land into a logistics warehouse hub with approximately 322 units with build-up area of different sizes ranging from 1,800 sq ftto 3,200 sq ft.
The project is expected to commence in the second quarter of financial year 2027 and be completed by the end of 2030.
