PETALING JAYA (Feb 1): Low-profile businessman and investor Datuk Seri Chiau Beng Teik sees a lot of potential in property firm Chin Hin Group Property Bhd (CHGP) and wants to demonstrate his commitment to the company to the investing public, The Edge Malaysia reported today.

In an interview with The Edge Malaysia, the 58-year-old building materials trader said: “Within the next 12 months or so, CHGP will be acquiring land bank by itself. In the past, we have been using our private vehicle to acquire land before injecting property projects into CHGP. But in the coming year, we plan to use the listed vehicle to directly undertake two land acquisitions.”

He also said CHGP has identified two plots in Kuala Lumpur and Selangor, measuring about three acres each, to acquire this year as the company aims to launch two new serviced apartment projects in 2021 and 2022, with units selling at RM300,000 to RM400,000 each.

Source: https://www.edgeprop.my//content/1638886/chiau-sees-potential-chin-hin-group-property