SINGAPORE (Feb 13): The founders and controlling shareholders of The Stratech Group, David Chew and Leong Sook Ching are injecting additional fresh funds of $9 million into the group.

The controlling shareholders will also convert $2 million to $3 million of existing loans to equity. The group also plans to call for a rights issue of up to $18–$27 million to raise working capital and to propel growth. Details of the rights issue will be announced in due course.

Stratech says the cash injection and rights issue will help the group protect its market share and enhance its products and capabilities to further strengthen its competitive positioning and earning power.

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