Malaysian property developer Oriental Interest Bhd has agreed to acquire Chin Hin (Jitra) Sdn Bhd and CHJ Motor Holdings Sdn Bhd for RM280 million, marking a significant expansion into the automotive retail and financing sector.
The deal targets two established players in Kedah, providing the group with an immediate foothold in motorcycle distribution and associated financial services.
According to The Sun Daily, the acquisition is part of a broader strategy to build a new growth engine for the conglomerate, reducing reliance on the cyclical property market.
The group intends to use these entities as a platform for future expansion, with plans to pursue additional acquisitions and develop new financing products in the coming years.
This move reflects a wider trend among Malaysian developers seeking diversification as the property sector faces headwinds.
By entering the automotive finance space, Oriental Interest aims to capture recurring revenue streams from loan servicing and vehicle sales, which typically offer more stable cash flows than development projects.