Latest news with #N&KResources(M)SdnBhd
The Star
2 days ago
- Business
- The Star
Trading ideas: Chin Hin, Sime Property, Catcha, Aemulus, Bursa, Malakoff, JS Solar, Cuckoo, Keyfield, I-Bhd, MNRB, Swift, JPG, N2N
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Chin Hin Group Property Bhd is disposing of its entire equity interest in four subsidiaries involved in the commercial vehicles and bodyworks segment to N&K Resources (M) Sdn Bhd for RM74mn. Sime Darby Property Bhd is in talks with banks for a loan of up to RM3bn (US$714mn) to fund the construction of a data centre to be leased to Google, according to sources. Catcha Digital Bhd will acquire a 60% stake in One International Exhibition Sdn Bhd for RM11.4mn cash via its wholly owned unit Catcha Connect Sdn Bhd. Aemulus Holdings Bhd will acquire the camera sensor testing business of China-based Revotronix group for RMB32.46mn (RM19.1mn). Bursa Malaysia Bhd has appointed Datuk Mohamed Rafique Merican as independent non-executive director effective Aug 15, 2025. Malakoff Corp Bhd has appointed Syahrunizam Samsudin as group CEO effective Sept 1, succeeding Anwar Syahrin Abdul Ajib, who is stepping down after nearly five years as MD and group CEO. JS Solar Holding Bhd has signed an agreement with TA Securities Holdings Bhd to underwrite 35.75mn shares for its ACE Market listing targeted for 3Q2025. Cuckoo International (Mal) Bhd posted a 1.8% QoQ decline in 2QFY2025 net profit to RM27.4mn, mainly due to listing expenses of RM4.7mn and higher net impairment losses on financial instruments. Keyfield International Bhd posted a net profit of RM66.4mn in 2QFY25, down 5.2% YoY from RM70.0mn, mainly due to fewer chartered days for both own and third-party vessels. I-Bhd more than doubled its 2QFY2025 net profit to RM11.5mn (+110% YoY) on stronger contributions from leisure and hospitality, property development, and property investment. MNRB Holdings Bhd posted a record-high 1QFY2026 net profit of RM168.4mn (+82.7% YoY), driven by strong insurance/takaful revenue growth and favourable claims experience. Swift Haulage Bhd posted a 19% YoY drop in 2QFY2025 net profit to RM6.8mn, weighed down by higher expenses despite stronger revenue. Johor Plantations Group Bhd posted a 51% YoY rise in 2QFY2025 net profit to RM75.2mn on higher CPO and PK delivery volumes and stronger OCP purchases. N2N Connect Bhd posted a 41% YoY increase in 2QFY2025 net profit to RM3.2mn, boosted by lower operating expenses and higher associate contributions.
The Star
2 days ago
- Automotive
- The Star
Chin Hin selling stakes in firms for RM74mil
PETALING JAYA: Chin Hin Group Property Bhd is disposing of its stakes in four companies to N&K Resources (M) Sdn Bhd for RM74mil, to focus on its core business of property development. In a filing with Bursa Malaysia, Chin Hin said it is disposing of its entire equity interest in Boon Koon Vehicles Industries Sdn Bhd, BKCV Sdn Bhd, Boon Koon Fleet Management Sdn Bhd and BK Fleet Management Sdn Bhd – all of which undertake the company's commercial vehicles and bodyworks business. Upon completion of the proposed disposals, Chin Hin said it will no longer be involved in the commercial vehicles and bodyworks businesses and that the financials (of the four disposed of companies) will be de-consolidated from Chin Hin and its subsidiaries. 'The proposed disposals is a strategic decision to enable the company to focus on its core business of property development.'
Focus Malaysia
3 days ago
- Automotive
- Focus Malaysia
Chin Hin Group Property to divest ‘obsolete' commercial vehicle division for RM74m
MAIN Board-listed developer Chin Hin Group Property Bhd (CHGP) has sealed a share sale agreement (SSA) with N&K Resources (M) Sdn Bhd for the disposal of four subsidiaries involved in the group's commercial vehicles and bodyworks segment for RM74 mil cash. The four subsidiaries – Boon Koon Vehicles Industries Sdn Bhd, BKCV Sdn Bhd, Boon Koon Fleet Management Sdn Bhd and BK Fleet Management Sdn Bhd – collectively undertake CHGP's commercial vehicles and bodyworks operations. Upon completion of the transaction, CHGP will fully exit this segment with financial results of the four companies to be de-consolidated from the group's accounts. The disposal is expected to generate a divestment gain of approximately RM862,000. The commercial vehicles division is a legacy business that predates the entry of CHGP's current substantial shareholder in 2017. It does not form part of the Chin Hin Group ecosystem which is anchored around building materials, construction engineering, property development and home & living solutions. As such, the divestment exercise removes a non-core, non-strategic segment, hence allowing CHGP to sharpen its operational focus. 'The RM74 mil cash proceeds will provide us with stronger financial flexibility to accelerate our property development plan,' commented at CHGP's group CEO (Property Development Division) Chang Tze Yoong. 'These funds will be deployed not only for strategic landbank acquisitions in high-growth locations such as Klang Valley but also to support our on-going projects and other growth opportunities.' Added Chang: 'At the same time, this transaction will strengthen our cash position, improve liquidity and enhance the overall financial resilience of the group.' With the disposal, CHGP will focus exclusively on residential property development by delivering high-quality housing that meets market needs. This strategic shift aligns with the group's long-term vision of delivering sustainable value through projects in prime locations, supported by prudent financial management and strong governance practices. At the close of today's market trading, CHGP was down 2 sen or 1.85% to RM1.06 with 48,600 shares traded, thus valuing the company at RM1.4 bil. – Aug 14, 2025
The Star
3 days ago
- Automotive
- The Star
Chin Hin to divest commercial vehicle units to N&K Resources for RM74mil
KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP) is disposing of its entire equity interest in its four subsidiaries (target companies) involved in the commercial vehicles and bodyworks segment to N&K Resources (M) Sdn Bhd for RM74 million. CHGP said the target companies are Boon Koon Vehicles Industries Sdn Bhd (25 million ordinary shares), BKCV Sdn Bhd (2 million ordinary shares), Boon Koon Fleet Management Sdn Bhd (4 million ordinary shares) and BK Fleet Management Sdn Bhd (2.5 million ordinary shares). "The target companies presently undertake CHGP's commercial vehicles and bodyworks segment. As such, upon completion of the disposals, CHGP will no longer be involved in the commercial vehicles and bodyworks businesses. "Besides, the financials of the target companies will be de-consolidated from the CHGP and its subsidiaries,' it said in a filing with Bursa Malaysia today. In a statement, CHGP said the disposal is expected to generate a divestment gain of RM862,000. Group chief executive officer of CHGP's property development division Chang Tze Yoong said the RM74 million cash proceeds will provide the company with stronger financial flexibility to accelerate its property development plans. "These funds will be deployed not only for strategic landbank acquisitions in high-growth locations such as Klang Valley, but also to support ongoing projects and other growth opportunities. "At the same time, this transaction will strengthen our cash position, improve liquidity, and enhance the overall financial resilience of the group,' he said. With the disposal, CHGP will concentrate exclusively on residential property development, focusing on delivering high-quality housing that meets market needs. This strategic shift aligns with the CHGP's long-term vision of delivering sustainable value through projects in prime locations, supported by prudent financial management and strong governance practices. - Bernama
The Sun
3 days ago
- Automotive
- The Sun
Chin Hin Group Property to dispose commercial vehicle division for RM74m
Chang said the RM74 million cash proceeds will provide the group with more substantial financial flexibility to accelerate its property development plans. KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP), a leading Malaysian property developer, has entered into a share sale agreement with N&K Resources (M) Sdn Bhd for the disposal of four subsidiaries involved in the group's commercial vehicles and bodyworks segment for RM74 million. The four subsidiaries – Boon Koon Vehicles Industries Sdn Bhd, BKCV Sdn Bhd, Boon Koon Fleet Management Sdn Bhd and BK Fleet Management Sdn Bhd, collectively undertake CHGP's commercial vehicles and bodyworks operations. Upon completion of the transaction, CHGP will fully exit this segment, and the financial results of the four companies will be de-consolidated from the group's accounts. The disposal is expected to generate a divestment gain of approximately RM862,000. CHGP group CEO for property development division Chang Tze Yoong said the RM74 million cash proceeds will provide the group with more substantial financial flexibility to accelerate its property development plans. 'These funds will be deployed not only for strategic landbank acquisitions in high-growth locations such as Klang Valley, but also to support ongoing projects and other growth opportunities. 'At the same time, this transaction will strengthen our cash position, improve liquidity, and enhance the overall financial resilience of the group,' he said in a statement. The commercial vehicles division is a legacy business that predates the entry of CHGP's current substantial shareholder in 2017. It does not form part of the Chin Hin Group ecosystem, which is anchored around building materials, construction engineering, property development and home & living solutions. This divestment removes a non-core, non-strategic segment, allowing CHGP to sharpen its operational focus. With the disposal, CHGP will concentrate exclusively on residential property development, focusing on delivering high-quality housing that meets market needs. This strategic shift aligns with the group's long-term vision of delivering sustainable value through projects in prime locations, supported by prudent financial management and strong governance practices.
