Capital World to resume trading on Tuesday

PROPERTY company Capital World will resume trading on the Singapore Exchange (SGX) on Tuesday (Oct 31).

Shares of the Catalist board-listed company were suspended on Feb 14, 2020. The counter had closed at 0.5 Singapore cent then. 

In a bourse filing on Monday, it described the trading resumption as a new chapter for the company. 

In January, the group entered a sales-and-purchase agreement with Singapore retailer Mustafa to sell the bulk of its units at Capital City Mall in Johor for RM368 million (S$105.5 million). This includes the sale of 591 retail units, 374 accessory parcels and 2,181 car parking spaces in the mall’s retail podium. 

Capital World said it has since received a deposit of RM73.6 million. The balance, to be paid upon the completion of the transaction, will strengthen the group’s working capital and assist with the construction of five new towers on top of the mall, which will include a hotel, a service suite and three service apartments, it said. 

Following the lifting of the trading halt, Capital World added that it will conduct a strategic review of its businesses to address post-pandemic opportunities and enhance shareholder value.