15-07-2025
Chin Hin expands Klang Valley landbank with RM52m Segambut land acquisition
CHIN Hin Group Property Bhd, (CHGP) has inked a sale and purchase agreement (SPA) with landowners New York Empire Sdn Bhd and Kar Sin Bhd to acquire a strategically located 6.49-acre parcel of freehold land in Segambut, Kuala Lumpur for RM52 mil cash.
This acquisition made through the group's wholly owned subsidiary Chin Hin Property (Segambut) Sdn Bhd transitions from a previous joint development agreement signed in April 2024 which provided CHGP full ownership and development rights.
Originally planned as a collaborative development between CHGP and Kar Sin, the land will now be independently developed by CHGP into a residential or mixed development project.
The acquisition further supports CHGP's on-going strategy of expanding its property portfolio by securing strategically located land within high-potential areas of Kuala Lumpur.
The Segambut land is well-connected by major highways, including the Duta-Ulu Klang Expressway (DUKE) and Jalan Ipoh, as well as public transportation such as KTM Komuter and MRT stations.
The area is experiencing rapid urban growth and infrastructure improvements, making it highly attractive for residential and mixed-use developments.
As such, CHGP plans to develop a high-rise development on the newly acquired land, subject to obtaining the necessary regulatory approvals.
The project aims to meet the growing demand from young professionals, families and local businesses seeking integrated developments offering convenient living and lifestyle amenities.
'Transitioning from our previous joint development arrangement to full ownership of this prime land allows CHGP greater flexibility and control over the project's execution and marketing,' commented CHGP's group CEO (property development division) Chang Tze Yoong.
'Given the area's strong connectivity and market dynamics, we are confident this project will substantially contribute to our earnings growth.'
Added Chang: 'The land's freehold tenure and favourable zoning conditions are poised to provide CHGP with significant flexibility to deliver an innovative, lifestyle-centric mixed-use development – a concept that has proven successful in key urban growth corridors.
'We are confident this project will substantially contribute to our earnings growth.'
Aligned with CHGP's sustainable growth goals, this acquisition is expected to positively impact the group's long-term earnings while supporting its commitment to ESG (environment, social and governance) practices by creating environmentally-friendly and sustainable communities.
At the close of today's market trading, CHGP was unchanged at RM1.07 with no share traded, thus valuing the company at RM1.41 mil. – July 16, 2025
