Link: https://links.sgx.com/1.0.0/corporate-announcements/FCCFGL84CBN6FAVJ/373e0b584c64885619be19571d0d4a8f469d73190ff766a13dc746dd8d7f517e

Summary:

• Sinostar PEC Holdings Limited announced an increase in the registered share capital of its wholly-owned subsidiary, Dongming Hengchang, by RMB 241 million.
• This increase was a result of a capital injection of S$44,524,700 (approximately RMB 241 million) from the net proceeds of the Rights Issue.
• The capital injection served as the second tranche payment of the Dongming Qianhai Purchase Consideration.
• A minor amount of S$45,075.76 from the net proceeds of the Rights Issue was reallocated to working capital due to regulatory restrictions in the People’s Republic of China.
• As of the date of the announcement, the net proceeds from the Rights Issue have been fully utilized.