Malaysian integrated builder conglomerate, Chin Hin Group Bhd, witnessed a 24% decrease in net profit for Q1FY2023. However, the company remains resilient and announces exciting property launches in Ayanna Bukit Jalil and Avantro Bandar Kinrara, expanding their impressive portfolio.
Chin Hin Group Bhd’s net profit for the first quarter ending March 31, 2023 (1QFY2023) declined to RM20.05 million, compared to RM26.26 million in the same period the previous year (1QFY2022), according to the company’s Bursa filing. Earnings per share declined to 1.13 sen from 2.97 sen over the same period. The lower net profit was primarily attributed to increased tax expenses and higher administrative costs.
Despite the dip in net profit, Chin Hin Group remains focused on growth and has unveiled plans for two exciting property launches. Ayanna Resort Residences in Bukit Jalil and Avantro Residences in Bandar Kinrara are set to captivate homebuyers with their exceptional features and strategic locations. These developments are expected to contribute significantly to the company’s impressive portfolio.
The Ayanna Residence in Bukit Jalil promises to offer a unique residential experience, combining modern design with a tranquil environment. With its prime location and extensive amenities, Ayanna is poised to become a sought-after residential destination.
Avantro Residences in Bandar Kinrara is another highly anticipated project by Chin Hin Group. Boasting contemporary architecture, Avantro offers a blend of comfort and style. Its strategic location and close proximity to amenities make it an ideal choice for modern urban living.
Chin Hin Group’s commitment to excellence and innovation is reflected in these upcoming launches. The company aims to provide homebuyers with exceptional properties that meet their diverse needs and aspirations.
With its robust construction division and strong revenue growth, Chin Hin Group remains well-positioned for sustained business growth. The company’s outstanding order book, valued at RM1.3 billion, along with its expansion plans in high-growth areas, highlights its dedication to long-term success.