PETALING JAYA: Chin Hin Group Bhd has encouraging medium to long-term prospects, premised on the expected rollout of construction and infrastructure-related projects in the coming year, says PublicInvest Research.

       This is in addition to the increased contributions from the listed entities in its stable – Solarvest Holdings Bhd (SHB), Signature International Bhd (SIB) and Chin Hin Group Property Bhd (CHGP).

       In a report, PublicInvest Research said it had lifted Chin Hin Group’s financial years 2022 and 2023 earnings estimates by an average 19% to account for better contributions from the listed entities.

       The research unit also noted that the group has seen some measure of success in addressing its previously loss-making operations as businesses restart post-vaccination and post-transition into phase four of the National Recovery Plan.

       Regarding the group’s proposal to split its shares yet again via a one-for-two bonus issue, PublicInvest Research said it is neutral on this development, though it noted that the group’s share price has rocketed 62% in the last one month.

       The exercise is its second one this year as a means of rewarding the group’s shareholders.

       PublicInvest Research retained its “neutral” call on the stock, as the sharp rise in share price leaves little upside to its revised target price of RM1.92 (RM1.35 previously).

       Manwhile, recent developments include CHGP acquiring another plot of land in Kuala Lumpur for RM85mil, for constructing affordable housing with a gross development value (GDV) of RM422mil.