KUALA LUMPUR (March 13): Chin Hin Group Property Bhd (KL:CHGP) is buying an industrial property in Kota Damansara from Signature International Bhd (KL:SIGN) for RM66 million cash for redevelopment purposes, in a deal related to its major shareholder, the Chiau family.

The Chiau family investment vehicle PP Chin Hin Realty Sdn Bhd controls a 57.5% stake in Chin Hin Group Property, and a 62.3% stake in Signature International as at March 12, 2026. 

Chin Hin Group Property chairman Datuk Seri Chiau Beng Teik and directors Datuk Chiau Haw Choon and Shelly Chiau Yee Wern are all interested parties in the deal. Haw Choon and Yee Wern are Beng Teik’s children.

In a Bursa Malaysia filing on Friday (March 13), Chin Hin Group Property said its wholly owned subsidiary Boon Koon Capital Sdn Bhd had entered into a conditional sale and purchase agreement with Signature Cabinet Sdn Bhd (SCSB), a wholly owned subsidiary of Signature International, to acquire the property.

The property consists of a single-storey detached factory, a three-storey office and a double-storey factory building on a piece of leasehold industrial land.

The 16,222-square-metre leasehold industrial land in Taman Sains Selangor 1 has a remaining tenure of about 80 years until October 2106.

Chin Hin Group Property plans to demolish the existing buildings and redevelop the site into an integrated industrial-commercial hub comprising retail spaces, supporting facilities and car parks.

The proposed project is expected to have a gross development value of about RM449.43 million and a gross development cost of RM361.63 million. The project is expected to launch in the third quarter of this year with completion targeted in the third quarter of 2030.

The property acquisition and development cost will be funded through a combination of internally generated funds and bank borrowings.

The group said the acquisition is in line with its strategy to expand its property development segment, adding that the integrated industrial-commercial hub represents a measured and selective broadening of its development portfolio and benefits the group from favourable industrial demand.

The proposed acquisition, which is expected to be completed by the third quarter this year, is subject to approvals from shareholders of both Chin Hin Group Property and Signature International. Beng Teik, Haw Choon and Yee Wern will abstain from all deliberations on the acquisition and voting on the deal. 

On Friday, Chin Hin Group Property’s share price closed down three sen or 2.78% to RM1.05, translating into a market capitalisation of RM1.46 billion.

Signature International’s share price settled one sen or 0.72% higher at RM1.39, bringing the group's market capitalisation to RM897 million.