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Capital World to resume trading on Oct 31

The Edge Singapore
The Edge Singapore • 1 min read
Capital World to resume trading on Oct 31
The company was suspended so as to restructure its debt
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Capital World, whose shares have been suspended since Feb 14 20202 so that it can restructure its debt, will resume trading on the SGX on Oct 31.

Capital World shares have been suspended since Feb 14 2020.

As part of its trading resumption, the company has sold the bulk of its units in a Johor mall to retailer MK Mustafa for RM368 million.

The sale includes 591 retail units; 374 accessory parcels and 2,181 car parking spaces.

Capital World has already received a deposit of RM73.6 million for the sale of units in Capital City Mall in Tampoi, Johor.

According to Capital World 1D5 -

, proceeds from the sale will help beef up its working capital and also go towards funding the construction of 5 towers on top of the mall.

See also: MAS and CAD probing Seatrium under SFA over Operation Car Wash

The 5 towers include a hotel, a service suite and 3 service apartments.

The company will conduct a strategic review of its business postresumption so as to address post-pandemic opportunities.

"With the resumption of share trading, we invite our shareholders and investors to join us in the next phase of our journey as we seek to complete our current projects and explore opportunities for future projects,” says CEO Hoo Khee Leng.

 

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