The proceeds will be used for business expansion and working capital purposes in relation to the Group’s growth plans of its consumer-centric businesses in Singapore.
Chin Teck Oon, executive director of KTL says, “We have made good headways with the new team’s background in fresh produce and agricultural trade as well as extensive business networks and experience in the import and distribution of food products. The proposed share placement provide further impetus to accelerate our business plans to build a stronger business foundation based on the positive macro trends of Singapore’s consumer staples market.”
Shares in KTL closed at 11 cents on July 15.
Photo: Unsplash
