ISR Capital invests S$2.68m in Straits Hi-Rel
ISR Capital's subsidiary, Infiniti Advantage, has entered into an agreement to invest up to S$2.68 million in Straits Hi-Rel (SHR) in a move to expand into the high reliability (Hi-Rel) engineering services business.
The investment will be done in four stages by subscribing for 16,667 shares in SHR, representing an equity stake of 25 per cent on an enlarged basis.
In a filing with the local bourse, ISR Capital said SHR, a private company, was set up to be a provider of Hi-Rel engineering services and will be structured as a Hi-Rel Technology Centre to be based in Singapore.
The centre will focus on speciality testing and back-end manufacturing for Hi-Rel integrated chips and electronic modules targeted for end applications in the automotive, energy (oil and gas) and industrial sectors.
So far, SHR has yet to commence any operations with regard to the Hi-Rel Technology Centre.
The investment will be funded using proceeds raised from the issuance of convertible redeemable bonds.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s Huawei launches new software brand for intelligent driving
Capital A chief Fernandes defers retirement, renews contract for five years
China’s SenseTime soars 36% after unveiling beefier AI model
PBOC steps up rhetoric against long-end government bond rally
Texas Instruments gives solid forecast in sign of comeback
Cordlife customers push for legal action