KUALA LUMPUR (Sept 15): Chin Hin Group Bhd's indirect wholly-owned unit Sage Evergreen Sdn Bhd (SESB) plans to acquire a RM22 million freehold land in Kota Tinggi, Johor, to cater to the group's production expansion plans. In a filing with Bursa Malaysia, Chin Hin said SESB entered into a sale and purchase agreement with TKW Capital Sdn Bhd today for the planned purchase of the 20.37ha land. Chin Hin said its existing precast concrete and autoclaved aerated concrete (AAC) blocks plant at Serendah, Selangor is running at its maximum capacity. "Chin Hin is going to set up a 45,000-tonne pre-cast concrete and a 600,000-m3 AAC block plant on the Johor land. Chin Hin closed up half sen or 0.55% at 91 sen, valuing it at RM455.3 million.

Source: The Edge Markets September 15, 2016 11:26 UTC