Chin Hin Group Property (KLSE:CHGP) has agreed to dispose of its entire stake in four subsidiaries to HSG for 62 million ringgit, according to a Wednesday filing to Bursa Malaysia.
The filing said the units comprise its commercial vehicles and bodyworks segment, with the company exiting those businesses.
Proceeds will be used to repay intercompany balances, fund working capital and cover transaction expenses, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.