Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
GRP Ltd. ( (SG:BLU) ) has issued an update.
GRP Limited has fully deployed the approximately $13.2 million in net proceeds raised from its earlier rights cum warrants issue, reallocating part of the original budget between new business initiatives and general working capital. The final tranche of $0.238 million was directed as working capital to its indirect 70%-owned subsidiary Ratus Nautika Sdn Bhd to support an affordable housing project of 1,039 terrace houses and 28 shop units in Sri Iskandar, Perak, with the Group emphasizing efforts to accelerate construction progress following the appointment of a new contractor in 2025.
The completion of the proceeds deployment marks a key milestone in GRP’s capital management and signals continued commitment to its Malaysian affordable housing venture through Ratus Nautika. For stakeholders, the full utilization of funds underscores a strategic focus on delivering the Sri Iskandar project, which is positioned to enhance the Group’s presence in the regional property market while aiming to ensure buyers realize the value of their home purchases.
More about GRP Ltd.
GRP Limited is a Singapore-incorporated company that operates as a holding entity for a group of subsidiaries, including Ratus Nautika Sdn Bhd in Malaysia. Through its indirect 70%-owned unit, the Group is involved in an affordable housing development comprising terrace houses and shop units in Sri Iskandar, Perak, targeting the mass-market residential segment.
Average Trading Volume: 101,605
Technical Sentiment Signal: Sell
Current Market Cap: S$8.11M
See more data about BLU stock on TipRanks’ Stock Analysis page.