4% of Chin Hin shares worth RM23m traded off-market

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KUALA LUMPUR (March 1): Chin Hin Group Bhd saw 22.2 million shares, representing a 4% stake in the company, traded off-market today.

Bloomberg data shows that the shares crossed in two tranches, with a block of 2.2 million shares traded at RM1.15 and another block of 20 million shares traded at RM1.

In comparison, the Chin Hin's share price closed 3 sen or 2.88% higher at RM1.07 today, with 452,800 shares changing hands in the open market.

No details on the buyers and sellers were revealed at press time.

According to Bloomberg, Datuk Seri Chiau Beng Teik, the deputy chairman and co-founder of Chin Hin, is the largest single shareholder of the group with a 13.35% stake under his own name and another 46.54% under Divine Inventions Sdn Bhd.

The group did not announce any latest development except for its latest financial results, which saw its net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) fall 56.3% year-on-year to RM8.54 million.