HIL Industries Bhd’s indirect wholly-owned subsidiary, Amverton Prop Sdn Bhd, has entered into a conditional sale and purchase agreement with A&M Modern Homes Sdn Bhd (AMMH) to acquire a three-acre parcel of land in Kuala Lumpur for RM47mil cash.
The group also announced a bonus issue of 278.19 million shares.
In a bourse filing, Chin Hin announced that it had signed a sale and purchase agreement with Chin Hin executive chairman Beng Teik and his son, who is also Chin Hin managing director, Haw Choon alongside their vehicle Divine Inventions Sdn Bhd to acquire 176.61 million shares or a 51.5% stake in CHGP and 37.65 million or 30.9% of the warrants in CHGP for RM88.86 million.
According to Chin Hin, Divine Inventions controls 116.61 million CHGP shares (equivalent to a 34% stake) and 2.79 million or 2.3% of the warrants in CHGP. Beng Teik himself controls a 15.2% stake in CHGP and 28.6% of CHGP’s warrants. Haw Choon directly controls 7.86 million shares in CHGP.