We expect to use the gross proceeds from our Public Issue amounting to RM129.60 million in the following manner:
| Details | Proposed Utilisation (1) | Reallocation (2) | Reallocated Utilisation | Estimated timeframe for use of proceeds from the date of Listing | ||
|---|---|---|---|---|---|---|
| RM'000 | % | RM'000 | RM'000 | % | ||
| Expansion in Malaysia and Singapore | 62,755 | 48.42 | (19,308) | 43,447 | 33.53 | Within 36 months |
| Expansion into new geographical markets | 53,550 | 41.32 | 19,308 | 72,858 | 56.22 | Within 36 months |
| Upgrade of digital technology facilities | 3,000 | 2.31 | - | 3,000 | 2.31 | Within 36 months |
| Working capital requirements | 3,259 | 2.51 | - | 3,259 | 2.51 | Within 24 months |
| Share listing and share issuance expenses | 7,036 | 5.43 | - | 7,036 | 5.43 | Within 1 month |
| Total | 129,600 | 100.00 | - | 129,600 | 100.00 | |
Notes:
Reference is made to the utilisation of proceeds raised from the public offering of the Company as disclosed in the Company's prospectus dated 28 June 2023 that was issued in conjunction with the listing of the Company on the Main Market of Bursa Malaysia Securities Berhad.
| 1) | The amount of RM19.31 million has been allocated from Expansion in Malaysia and Singapore to Expansion into new geographical markets to fast track the expansion of its business operations in Indonesia as disclosed in the announcement dated 28 August 2024. |
| 2) | The Board of Directors of the Company has approved and wishes to announce that the Company intends to undertake the Proposed Variation for the utilisation of proceeds raised from initial public offering. |