KUALA LUMPUR (April 5): Building material specialist Chin Hin Group Bhd has identified Johor as the location for its proposed RM85 million factory. The expansion plan is intended to help Chin Hin capture the Singapore market.

Its managing director Chiau Haw Choon said the group had identified a 12ha to 20ha (30 acre to 50 acre) land in Johor for the factory. He said the factory is expected to be ready by end-2017.

"We have yet to purchase the land. We expect to complete the land acquisition in a few months," Chiau said at the signing ceremony here between Chin Hin and Germany-based Wehrhahn GmbH.

Chin Hin and Wehrhahn had earlier signed a contract valued at €4 million (approximately RM18 million), under which Chin Hin bought a machine line from Wehrhahn.

The machine line, to produce concrete products, will be installed at Chin Hin's upcoming factory, according to Chiau.

At 12:30pm, Chin Hin shares rose 1.5 sen or 1.7% to settle at 88.5 sen for a market value of RM447.71 million. The stock saw some four million shares traded.