ISR Capital chairman defends mining asset purchase
In response to SGX's query, firm says it intends to commission a third independent valuation report
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
ISR Capital, which has had its shares suspended from trading by the regulator, said on Wednesday it will commission a third independent report to value a proposed acquisition in Madagascar that would allow the firm to mine for rare earth oxides.
The announcement was found in a three-page letter from the company's executive chairman, responding not just to the regulator's recent actions, but also defending the decision to hunt down such minerals used to make magnets found in electric cars, smartphones, and wind turbines.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
Mustafa Centre begins fit-out at JB’s Capital City Mall after 2-year delay
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
