Chin Hin Group Property Berhad (KLSE:CHGP) agreed to acquire 45% stake in AIMA CONSTRUCTION SDN BHD from Uniplaza Sdn Bhd for MYR 32.9 million on March 10, 2021. Under the terms of the transaction, Chin Hin Group Property Berhad will issue 35.8 million shares to acquire 0.45 million ordinary shares of AIMA Construction. If the transaction is terminated then Chin Hin Group Property Berhad and AIMA Construction will pay 10% of the purchase price as liquidated damages. AIMA CONSTRUCTION generated revenue of MYR 150.6 million and profit after tax of MYR 1.7 million. The transaction is subject to satisfactory legal, financial and/or business due diligence findings on Aima, completion of audit of Aima for fiscal year December 31, 2020, approval of shareholders of Chin Hin Group, approval of new shares by Bursa securities to be issued in the transaction, consent and/or approval from the existing financier of AIMA. As of May 4, 2021, M&A Securities Sdn Bhd, on behalf of the Board of CHGP approved the extension of time of up to July 30, 2021, to submit the draft circular and additional listing application in relation to the transaction. M&A Securities Sdn. Bhd. acted as financial advisor to Chin Hin Group Property Berhad. Chin Hin Group Property Berhad (KLSE:CHGP) cancelled the acquisition of 45% stake in AIMA CONSTRUCTION SDN BHD from Uniplaza Sdn Bhd on July 2, 2021.