Latest news with #RM862
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
Hype Malaysia
15-07-2025
- Entertainment
- Hype Malaysia
Fan Bing Bing Sells Out Over RM862 Million Worth Of Fan Beauty Face Masks
After her tax evasion scandal that left her with a hefty fine and a hiatus, Fan Bing Bing (范冰冰) has started appearing more in public in recent years. With her achievement in the Malaysian Book of Records for boosting Melaka's digital image and a Malaysian movie completing in November, the Chinese actress has risen above and beyond, and she's not stopping anytime soon. It was recently reported that Fan Bing Bing's famous Fan Beauty Diary face mask made over RM862 million in sales last year. During her hiatus, the actress can be seen frequently applying facial masks in photos on her social media, which could be the leverage for the amazing sales as fans and the public strive to achieve her clear complexion. Fan Beauty launched in 2019 with their best-selling product, the Fan Beauty Diary Face Masks. Since its launch, the product has garnered impressive sales over the years. In a recent promotional shoot involving an amateur photographer and the 43-year-old actress, the brand sold over 200,00 units of face masks alone in less than 72 hours, marking Fan Bing Bing's entrepreneurial prowess, leveraging on her popularity with active promotions. Other than her business prospects, Fan Bing Bing is also set to return to the big screen in the Malaysian film 'Mother Bhumi', speculated to premiere late this year. 'We have closely followed Chong [Keat Aun]'s cinematic evolution since his critically-acclaimed debut. We're also utterly captivated by Fan Bingbing's career-redefining performance through daring characterisation in this film,' said Meng Xie, CEO of film distribution company Rediance. As we follow along Fan Bing Bing's journey, moving past her scandals, we believe that this actress has a lot more coming than we know! Sources: China Press, Variety Alyssa Gabrielle contributed to this article.
