Capital World obtains HK$50m share financing with controlling shareholders' shares
CAPITAL World Limited said it has obtained a HK$50 million (S$8.7 million) share financing from a licensed money lender Great View Finance Limited.
The group also recently secured a S$4 million bank loan from RHB Bank Berhad for general working capital purpose.
The shares financing bears an interest rate of 10 per cent per annum and the loan is to be repaid within a 12-month period.
A total of 166.5 million shares of the company held by three controlling shareholders will be pledged for the shares financing. These represent 13.1 per cent of the group's issued and paid-up shares.
Siow Chien Fu, one of the controlling shareholders and CEO of the group, said: "This will allow the group to further strengthen our foothold in Malaysia with more property development projects."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Keppel prices 70 million euros of floating-rate notes due 2031
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations