Posted on 01 Aug 2025
Chin Hin Group Berhad has announced the proposed disposal of its entire equity interest in Metex Steel Sdn. Bhd. to EC Excel Wire Sdn. Bhd. for a total cash consideration of RM70 million.
The deal, formalised via a Share Sale Agreement, will see Chin Hin divesting all 50 million ordinary shares in Metex Steel. Upon completion of the transaction, Metex Steel will cease to be a wholly-owned subsidiary of the group.
Metex Steel, incorporated in August 2011, is primarily engaged in the manufacturing and sales of steel welded mesh and wire products The company’s issued and paid-up capital stands at RM50 million.
Prior to the completion of the deal, Chin Hin will divest Metex Steel’s two subsidiaries—Metex Modular Sdn. Bhd. (70%-owned) and Metex Asia Sdn. Bhd. (wholly-owned). These subsidiaries are involved in modular steel construction and the erection of prefabricated structures, respectively.
The purchaser, EC Excel Wire, is a hardware and wire mesh manufacturer with logistics and transportation capabilities. It was incorporated in 2007 and has an issued and paid-up capital of RM24.5 million.
Chin Hin said the proposed disposal aligns with its strategy to streamline operations and re-organise its business portfolio. The transaction is also expected to enhance the company’s cash flow position.
“The disposal presents an opportunity for Chin Hin to unlock and monetise its investment in Metex Steel while sharpening its business focus,” the company said in its announcement.
Source:The Star
