Khoon Group Limited (HK:0924) has released an update.
Khoon Group Limited has announced a reallocation of the remaining S$0.6 million of their net proceeds, originally intended for machinery and lorry acquisitions, towards financing upfront costs and working capital for new electrical engineering projects. This change reflects the Board’s strategic reconsideration in response to the current business climate and the company’s developmental needs. The Group expects to fully utilize the re-allocated funds by December 2024.
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