CHIN Hin Group Property Bhd (CHGP) has unveiled a strategic expansion of its development portfolio with the acquisition of a prime industrial property in Kota Damansara, Selangor for RM66.0 mil.
The transaction marks the group’s maiden foray into the industrial and commercial development segment from its predominant focus on residential projects primarily within Klang Valley, Penang and Johor Bahru.
The said acquisition is being executed through CHGP’s indirect wholly owned subsidiary Boon Koon Capital Sdn Bhd.
The subject property which comprises a three-storey office-cum-factory building on 16,222 sq metres of leasehold land is acquired from Signature Cabinet Sdn Bhd, a wholly owned subsidiary of Signature International Bhd.
“This RM66 mil acquisition represents a selective and strategic expansion into the industrial-commercial segment for CHGP,” commented group CEO Chang Tze Yoong.
“By securing this prime site in Kota Damansara, the group is acquiring a mature asset supported by an independent market valuation with clear re-development potential into an integrated industrial-commercial hub with an estimated GDV (gross development value) of approximately RM449 mil.”
While CHGP’s core focus remains firmly on residential development, diversifying into high-demand industrial spaces allows the group to broaden its earnings base and capture shifting market demands.
“Crucially, we’re executing this while maintaining prudent financial management and a disciplined capital structure,” added Chang.
CHGP plans to completely re-develop the Taman Sains Selangor 1 site into an integrated industrial-commercial hub designed to cater to logistics operators, light industrial users and commercial businesses.
The location offers immediate connectivity to the LDP, NKVE and SPRINT highways, hence placing it at the centre of the Klang Valley’s established industrial corridors.
Preliminary feasibility studies project the targeted re-development to carry an estimated GDV of RM449.4 mil against a gross development cost (GDC) of RM361.6 mil, thus implying an estimated development margin of approximately 19%.
CHGP will fund the acquisition through a combination of internally generated funds and bank borrowings.
Post-acquisition, the group’s pro forma net gearing is expected to move from 0.67x to approximately 0.81x.
This remains well within manageable levels, thus ensuring the group retains the financial flexibility to execute both its existing residential projects and this new industrial pipeline.
At the close of today’s (March 13) market trading, CHGP was down 3 sen or 2.78% to RM1.05 with 201,000 shares traded, thus valuing the company at RM1.46 bil. – March 13, 2026
