Singapore

COMPELLED by an anaemic metal business and undeterred from a botched reverse takeover involving huge land in Malaysia's Iskandar, Albedo has now armed itself with an extreme makeover - and more funds - to tap the flourishing medical aesthetics market in China.

For a better stab at grabbing market share in sizeable China, the Catalist-listed firm announced on Friday that it is raising S$3 million through a proposed share placement of 300 million shares at one Singapore cent each to Frankie Kiow - a longtime Shanghai-based Malaysia businessman who will emerge as one of Albedo's majority owners with a 9.84 per cent stake.