The Board of Directors of Chin Hin Group Berhad (“CHGB” or “the Company”) is pleased to announce that Starken AAC Sdn. Bhd. (“SAAC”), a wholly-owned subsidiary of the Company, had on 12 June 2025 entered into a Memorandum of Understanding (“MOU”) with Jiangsu Teeyer Intelligent Equipment Co., Ltd. (“JTIE”) for the purpose of procuring the autoclaved aerated concrete machinery(ies) with a capacity of over 1,000,000 m3 per annum from JTIE, subject to the terms and conditions as stipulated in a definitive agreement to be entered into between SAAC and JTIE within 30 days from the date of the MOU (“Definitive Agreement”).
SAAC is an integrated builders conglomerate involved in a diversified range of businesses, including building materials manufacturing and distribution, construction, property development, precast concrete products, and industrial solutions for the construction and building industries.
JTIE is a company incorporated in China, and is a high-tech enterprise specialising in building materials equipment designing, R&D, manufacturing, project management and integration of operation & maintenance.
The MOU shall take effect immediately from 12 June 2025 and shall remain valid for a period of 30 days. The MOU shall terminate upon the signing of the Definitive Agreement by SAAC and JTIE.
The MOU will not have any effect on the share capital and substantial shareholders’ shareholdings of CHGB. The MOU is also not expected to have any material immediate effect on the earnings per share, net assets per share and gearing of the CHGB Group for the financial year ending 31 December 2025.
None of the Directors, major shareholders and/or the chief executive of the Company and/or any person connected with them has any interest, either directly or indirectly, in the MOU.
The MOU being incurred in the ordinary course of business of CHGB Group, is not subject to the approval of the shareholders.
The Board of Directors of CHGB, having taken into consideration all aspects of the MOU, is of the opinion that the MOU is in the best interest of the CHGB Group.
The MOU is available for inspection at the registered office of the Company at 22-09, Menara 1MK, No. 1 Jalan Kiara, Mont Kiara, 50480 Kuala Lumpur between 8.30 a.m. and 5.30 p.m. from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 12 June 2025.