Kota Kinabalu: KTI made its debut on the ACE Market of Bursa Malaysia Securities Berhad on Wednesday morning.
The Company had successfully raised RM48.0 million in its initial public offering exercise to partly fund its acquisition of land for development amounting to RM18 million.
Of the proceeds, RM20.7 million will be allocated as working capital for project development and RM0.3 million to upgrade software and systems.
A sum of RM2.2 million will be used to upgrade and expand its existing casting yard or IBS facility, followed by RM3.0 million for repayment of bank borrowings and the remaining RM3.8 million for its estimated listing expenses.
SPONSORED CONTENT Hajiji says positive economic achievements prove Sabah govt’s commitment Kota Kinabalu: Chief Minister, Datuk Seri Hajiji Noor, emphasised that the positive economic achievements over the past three years underscore the Sabah government’s steadfast commitment to both the administration and development of the state. Read more To date, KTI has delivered projects with a total GDV of RM1.2 billion, of which RM1.0 billion from the provision of design and build construction projects while the remaining RM207.6 million from its own property development projects.
* Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access.
* Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss.