• Datuk Seri Chiau Beng Teik is the founder and executive chairman of Chin Hin. Last December, his stake stood at 55.502%. With the continued accumulation of shares, his shareholding has increased to 60.064%, according to Chin Hin’s filing with the stock exchange on Tuesday (May 23).

KUALA LUMPUR (May 24): Over the past five months, Chin Hin Group Bhd’s controlling shareholder Datuk Seri Chiau Beng Teik (pictured) has been actively raising his stake in the building material specialist, breaching the 60% mark.

Chiau is the founder and executive chairman of Chin Hin. Last December, his stake stood at 55.502%. With the continued accumulation of shares, his shareholding has increased to 60.064%, according to Chin Hin’s filing with the stock exchange on Tuesday (May 23).

He now owns a 22.01% direct stake and a 38.054% indirect stake — via his private entity Divine Inventions Sdn Bhd — in Chin Hin.

Having gained 37% in the past five months, Chin Hin’s shares closed up five sen or 1.15% to RM4.38 on Tuesday, bringing it a market capitalisation of RM7.75 billion.

The stock has outperformed the benchmark index FBM KLCI, which has fallen 3.8% during the same period.

In terms of financial performance, Chin Hin’s annual net profit for the financial year ended Dec 31, 2022 (FY2022) surged over threefold to RM97.77 million, from RM30.7 million in FY2021, on the back of higher revenue and a gain on disposal of investment in an associate company amounting to RM76.32 million.

Full-year revenue also grew 41.67% to RM1.63 billion from RM1.15 billion.

SHARE
RELATED POSTS
  1. MOTAC taking claim of hidden camera installed in Sabah homestay seriously, says Tiong
  2. IOI Properties launches Sierra Fresco and IOI Galleria in 16 Sierra, Puchong South
  3. Nine of 22 sick PR1MA projects completed nationwide, says deputy minister