CHINHIN 5273 Share Price

The Group reported a higher PBT of RM189.32 million, a 62.42% increase from RM116.56 million recorded in FY2022. Higher progress billings from ongoing construction projects as well as higher sales and profitability of our building materials division were key factors. Prospects for our property division remain strong, with a robust line-up of project launches as well as RM521.20 million in unbilled sales as of 31 December 2023. The completion of Signature’s Smart Factory brings greater productivity, flexibility and agility to the manufacture of our associate’s home & living solutions, enhancing operational equipment efficiency in line with contemporary IR4.0 efforts. Coupled with the planned launch of a mobile app enhancing communication across Signature’s integrated supply chain, as well as the exploration of new markets in Indonesia and the Philippines for our building material businesses, these exercises are set to take our innovative intrabuild system to new heights.

The Group reported a considerably lower profit before tax (“PBT”) of RM22.06 million, a reduction of RM21.07million as compared to the preceding quarter PBT of RM43.13 million. Higher PBT recorded in preceding quarter was due to the disposal of Solarvest and Midah Group of companies during the quarter.

The Group posted a revenue of RM214.95 million as compared to RM307.92 million in the preceding quarter, a decrease of RM92.97 million or 30.19%. The lower revenue was solely due to the implementation of FMCO (“Full Movement Control Order”) or total lockdown effective 1st June 2021.The group PBT recorded at RM7.8 million for the current quarter compared to RM18.9 million in the preceding quarter, a decrease of 59%. Hence, the revenue and profit before tax were badly affected as all our business units had to incur fixed overheads such as labour cost, salary, rental and depreciation although the business was shut down

Chin Hin Group Bhd has acquired a 31.2% stake in kitchen cabinet manufacturer Signature International Bhd for RM93.6 million cash or RM1.17 per share. Chin Hin group managing director Chiau Haw Choon said the acquisition is in line with its objective of acquiring strategic stakes in companies with potential for future growth.

The Group reported a higher profit before tax (“PBT”) of RM5.80 million, an increase of RM4.47 million as compared to the preceding quarter PBT of RM1.33 million. The main contributor for the increase in PBT was due to the huge gain on disposal of investment in associate of RM27.79 million offset by the massive operation losses sustained of RM21.99 million due to the enforcement of MCO and impairment of trade receivables as mentioned earlier.

For commercial vehicles and bodyworks segment, revenue for the current quarter was RM26.25 million, an increase of RM1.50 million compared to RM24.76 million in the preceding quarter. Higher revenue was recorded due to higher demand for rebuilt commercial vehicles. Profit before taxation in the current quarter was RM0.30 million, an decrease of RM0.75 million compared to profit before taxation of RM1.02 million in the preceding quarter. The lower profit before taxation was impairment of inventory.