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GRP Ltd. ( (SG:BLU) ) has issued an announcement.
GRP Limited has provided an update on the use of proceeds from its approximately $13.2 million Rights cum Warrants Issue, reporting that about $13.0 million has been deployed as at 21 January 2026, with funds reallocated between new business initiatives and general working capital. A significant portion of the remaining proceeds has been channeled as shareholder loan and working capital to its 70%-owned subsidiary Ratus Nautika Sdn Bhd to support an affordable housing project comprising 1,039 single-storey terrace houses and 28 terraced shop units in Sri Iskandar, Malaysia, where a new contractor has been appointed and the Group is working to accelerate project completion for homebuyers. The balance of unutilized proceeds now stands at approximately $0.24 million, indicating that most of the capital raised has been committed to ongoing operational and project needs.
More about GRP Ltd.
GRP Limited is a Singapore-incorporated investment holding company with business activities conducted through its subsidiaries, including Ratus Nautika Sdn Bhd, an indirect 70%-owned subsidiary involved in an affordable housing development project in Sri Iskandar, Perak, Malaysia.
Average Trading Volume: 41,283
Technical Sentiment Signal: Sell
Current Market Cap: S$8.47M
Find detailed analytics on BLU stock on TipRanks’ Stock Analysis page.