Capital World, which has entered into a sales and purchase agreement (SPA) to sell the bulk of its units at a mall in Johor to retailer MK Mustafa for RM358 million, will resume trading on the Singapore Exchange S68 Securities Trading (SGX-ST) on Tuesday, Oct 31.
Catalist-listed Capital World 1D5 has received a letter of no-objection from SGX RegCo. Its shares have been suspended from trading since Feb 14, 2020.
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.
