I
annual report 2014
42
Additional
Corporate Disclosure
1.
UTILISATION OF PROCEEDS FROM CORPORATE EXERCISES
Private placement and rights issue of warrants in 2012
Total gross proceeds raised amounted to RM29.7 million (equivalent to approximately RMB54.78 million). The status
of utilisation is as follows:
(In RM)
Purpose
Intended
Timeframe
Proposed
Utilisation
RM’000
Actual
Utilisation
RM’000
Deviation
Amount
RM’000
%
i)
Purchase machinery
and equipment for
new design and
production centre
Before 31
December
2015
29,100
16,346
12,754
43.8 N1
ii)
Estimated expenses
in relation to the
Proposals
Immediate
600
600
–
–
29,700
16,946
12,754
(In RMB)
Purpose
Intended
Timeframe
Proposed
Utilisation
RM’000
Actual
Utilisation
RM’000
Deviation
Amount
RM’000
%
i)
Purchase machinery
and equipment for
new design and
production centre
Before 31
December
2015
53,670
30,234
23,436
43.8 N1
ii)
Estimated expenses
in relation to the
Proposals
Immediate
1,107
1,107
–
–
54,777
31,341
23,436
N1 The fund raised have been earmarked for the acquisition of eight (8) new advance production lines for the new
design and production centre. To-date, two (2) new production lines have been acquired and installed. The
deposit of the remaining six (6) new production lines has been paid and the balance will be paid upon delivery
and installation of these production lines, which is expected to take place in the second half of 2015.
