PETALING JAYA: Chin Hin Group Bhd
has proposed to dispose of its entire 19.34% stake, representing 129.1 million shares, in Solarvest Holdings Bhd for RM103.28mil to Divine Inventions Sdn Bhd.
The construction and property development company said the disposal consideration shall be satisfied wholly by way of cash.
In a filing with Bursa Malaysia, Chin Hin said RM102.72mil of the proceeds would be utilised to repay bank borrowings of the group and its subsidiaries, which amounted to about RM790.89mil as at Dec 31, 2021.
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