The company’s subsidiary Capital City Properties entered into the SPA to sell the units at Capital City Mall in Tampoi, Johor in January. It has already received a deposit of RM73.6 million.
The receipt of the balance monies upon completion of the SPA will strengthen Capital World’s working capital, aside from assisting the construction of five towers that are situated on top of the mall. The towers include a hotel, a service suite and three service apartments.
Capital World has an issued share capital of approximately 14.3 billion shares. The company will conduct a strategic review of its business post trading resumption to address post-pandemic opportunities as well as enhance shareholder value.
“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 Capital World CEO Hoo Khee Leng.
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Shares in Capital World last traded at 0.5 cents.
