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GRP Ltd. ( (SG:BLU) ) has issued an update.
GRP Limited has announced that its subsidiary Ratus Nautika has received confirmation from RHB Bank Berhad that RM3,717,035.41, previously segregated in its business bank account, has been released. The funds had been held in connection with the adjudication sum for phases one to three of an affordable housing project, which has now been fully settled.
With the release of the funds, Ratus Nautika can now deploy this cash in the ordinary course of business, improving its liquidity and operational flexibility. The development removes an overhang related to the dispute with EESB and may support smoother execution of ongoing projects, while the company has indicated it will update shareholders on any further material developments.
More about GRP Ltd.
GRP Limited is a Singapore-incorporated investment holding company with interests in various operating subsidiaries. Through its units, including Ratus Nautika, the Group participates in construction-related and housing project activities, with a focus on affordable housing developments in the region.
Average Trading Volume: 102,370
Technical Sentiment Signal: Sell
Current Market Cap: S$9.01M
See more insights into BLU stock on TipRanks’ Stock Analysis page.