Share
PETALING JAYA (April 2): Chin Hin Group Property Bhd (CHGP) has withdrawn its application for a further extension of time to implement its proposed private placement.
In a filing with Bursa Malaysia today (Thursday, April 2), the group said the withdrawal was made after taking into consideration:
*Prevailing market uncertainties
*Viability of alternative funding options
Private placement status
Following the withdrawal:
*The private placement will lapse
*It will be deemed completed on April 21, 2026
The company noted that it will:
*Continue engaging potential investors
*Reassess the optimal timing for any future fundraising exercise
Context of proposals
The private placement forms part of CHGP’s broader multiple proposals, which also include disposals, as previously announced.
The company clarified that terms used in the announcement are consistent with its earlier disclosures made between February 2024 and April 1, 2026 in relation to the proposals.
CHGP closed unchanged at RM1.06 today, maintaining a RM1.47 billion market cap. Despite the FBM KLCI slipping below 1,700 due to global oil price volatility, the stock held steady within a tight range of RM1.05 to RM1.06. This follows a major volume spike on March 30, which coincided with its dividend ex-date.
..........
Get EdgeProp's inaugural monthly print edition! Free delivery is available for selected regions. Subscribe now.
