Malaysian timber firm Jawala to raise S$3.15m ahead of SGX listing

[SINGAPORE] MALAYSIAN sustainable timber company Jawala Inc is seeking to raise S$3.15 million in net proceeds ahead of a listing on the Singapore Exchange's (SGX) Catalist board.

Jawala is offering a total of 18 million shares (15 per cent of the company) at S$0.25 apiece.

The public offer comprising 400,000 shares closes on next Wednesday at noon. Trading will commence on June 1.

In the last financial year ended July 31, 2017, Jawala made a net profit of RM2.5 million (S$841,570) and revenue of RM12 million after commencing logging operations in October 2016. Net profit in the first q…