KUALA LUMPUR (Nov 14): Two stocks controlled by the Chiau family, namely Signature International Bhd and Chin Hin Group Bhd, were among the top gainers on Monday (Nov 14).
Shares in Signature International surged as much as 36 sen or 13.7% to RM2.98, while Chin Hin climbed to an intraday high of RM3.39, up 24 sen or 7.6%.
At the time of writing, Signature International was 30 sen or 11.45% higher at RM2.92, with more than 1.9 million shares transacted. Chin Hin was 22 sen or 6.98% higher at RM3.37, after over 3.02 million shares exchanged hands.
It was unknown what caused the spike in these two counters amid selling in the broad market.
Year to date, Signature International's share price has more than doubled, while Chin Hin has risen 158.24%.
Chin Hin founder Datuk Seri Chiau Beng Teik is the largest shareholder of Signature International, with a 32.5% stake.
Chiau, through his private entity Divine Inventions Sdn Bhd, holds a 36.88% indirect stake in Chin Hin. He also directly owns 17.7% of Chin Hin.
Signature International is a kitchen cabinet manufacturer, with businesses in retail, project, imported appliances, glass and aluminium, while Chin Hin’s business portfolio encompasses five core divisions, namely building materials, property development, construction, home and living, and solar energy.
In a separate announcement on Monday, Chin Hin, in a joint effort with Solarvest’s residential solar subsidiary Vestech Energy Sdn Bhd, launched a Go Green & Clean Campaign to encourage residential solar adoption among Chin Hin’s employees.
Through the campaign, Vestech will be offering an attractive and affordable solar financing scheme, specifically tailored to each staff. The offer is applicable to approximately 2,000 employees in the initial phase.
Notably, Chin Hin on May 17 proposed to divest a 19.34% stake in Solarvest to Divine Inventions for RM103.28 million, or 80 sen per share, resulting in a one-off disposal gain of RM35.68 million.
Signature International proposes one-for-one bonus issue
Chin Hin’s shares hit record high as EGM on Solarvest disposal looms
Chin Hin founder Chiau Beng Teik and Signature International emerge as Fiamma’s controlling shareholders
Chin Hin disposes of remaining 19% in Solarvest to Chiau family in RPT for RM103m cash