Stratech to receive funds from controlling shareholders, plans to propose scheme of arrangement

Singapore

THE Stratech Group, which is poised to receive funding from its controlling shareholders, said that it is looking to propose a scheme of arrangement to settle claims.

The surveillance technology provider announced on Thursday that investment fund management group Boulevard Capital Partners has committed to provide funding to controlling shareholders David Chew and Leong Sook Ching, who are refinancing their personal property. The infusion is to support further fundraising exercises to improve the net equity of the company and to support the group's business development.