Ley Choon says its fulfilment of the DRA gives the company better flexibility over its cash usage with the absence of debt servicing costs and improved cash flow.
In addition, the company will also have greater freedom over its working capital management as well as decisions on capital expenditure going forward.
CEO Toh Choo Huat says: “Through disciplined and prudent capital management over the past years, we have managed to fulfil the DRA ahead of schedule. This is a huge boost for the group as it gives us full autonomy over our capital management strategy including our working capital needs and capital budgeting.”
“Given our project pipeline and the opportunities available in the market, this is extremely timely for us. We can now focus on executing our growth plans and generating higher shareholder value,” he adds.
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Shares in Ley Choon closed 0.1 cent higher or 2.63% up at 3.9 cents on March 14.
