Divine Inventions Sdn Bhd made an offer to acquire additional 62.4% stake in Chin Hin Group Property Berhad (KLSE:CHGP) for MYR 55.5 million on January 13, 2020. Divine Inventions will acquire all the shares of Chin Hin that Divine Inventions and its owner does not already own at a price of MYR 0.30 per share and MYR 0.10 per Offer Warrant respectively. Divine Inventions and its owners hold 111.4 million shares of Chin Hin Group before this transaction. Certain shareholders holding approximately 24.49% stake in Chin Hin have undertaken not to accept the offer. As of January 13, 2020, Divine Inventions will acquire 185 million shares and 93.8 million warrants. The offer has received irrevocable undertakings from Goh Boon Koon, BKNT Resources Sdn Bhd, Teoh Hai Hin, Teoh Huan Shim and Mohd Salleh Bin Hashim that they will not accept the offer in respect of their collective shareholdings of approximately 24.49% of the total number of CHGP Shares and and 24.87% of outstanding Warrants respectively. If the Offer is revised after the Posting Date, it will remain open for acceptances for at least 14 days from the date of posting of the written notification of revision to the holders. The transaction is subject to approval from shareholders of Chin Hin Group Property Berhad and the minimum acceptance for the offer is 50%. The Offer is conditional upon the Divine Inventions receiving valid acceptance which would result in the Divine Inventions and Ultimate offerors and persons acting in concert with them (if any) holding in aggregate, together with such CHGP Shares that are already acquired, held or entitled to be acquired or held by the Divine Inventions, will result in the Divine Inventions and Ultimate Offerors collectively holding in aggregate more than 50% of the voting shares of Chin Hin Group. As of February 13, 2020, the Board of Directors of Chin Hin Group Property Berhad recommend the holders to reject the offer as the terms of the transaction are not fair and not reasonable. As of February 20, 2020, Divine Inventions Sdn Bhd has acquired more than 50% stake of Chin Hin Group Property Berhad and accordingly offer has become unconditional. The offer will remain open for acceptance till February 24, 2020, being the first closing date. The Board appointed Inter-Pacific Securities Sdn. Bhd. as the Independent advisor to advise the non-interested Directors and holders of the Offer Securities on the fairness and reasonableness of the Offer. M&A SECURITIES SDN BHD acted as financial advisor for Divine Inventions Sdn Bhd. Tricor Investor & Issuing House Services Sdn Bhd acted as registrar for Chin Hin Group. Divine Inventions Sdn. Bhd. completed the acquisition of additional 15.7% stake in Chin Hin Group Property Berhad (KLSE:CHGP) for MYR 13.9 million on March 5, 2020. As part of the transaction, Divine Inventions Sdn. Bhd. additional 46.4 million shares and 2.7 million warrants of Chin Hin Group Property Berhad. As a result of the transaction, Divine Inventions Sdn. Bhd. now owns 59.1% stake in Chin Hin Group Property Berhad.