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The latest announcement is out from Skylink Holdings Ltd ( (SG:XZB) ).
Skylink Holdings Limited has provided an update on how it has used and reallocated funds raised from an earlier placement and convertible bonds issue tied to its reverse takeover of Sincap Group Limited. Of the S$4.0 million originally earmarked for securing additional block discounting facilities and/or expanding its loan book, including related mergers and acquisitions, the company has further utilised S$1.219 million and reallocated S$300,000, leaving a balance of S$2.122 million. Separately, the S$1.288 million previously allocated for general working capital, including direct purchase of commercial vehicles and enhancing its Engineering Business’ capacity and expertise, has now been substantially deployed, with S$872,000 further utilised and no remaining balance, signalling an active deployment of capital to support lending growth and operational expansion.
More about Skylink Holdings Ltd
Skylink Holdings Limited is a Singapore-incorporated investment holding company whose group operations include loan financing activities, such as building and managing a loan book, and an Engineering Business that involves the direct purchase of commercial vehicles and related capacity and expertise. The company has pursued growth through a reverse takeover of Sincap Group Limited and uses equity placements and convertible bond issuances to fund expansion and working capital needs.
Average Trading Volume: 361,532
Technical Sentiment Signal: Sell
Current Market Cap: S$50.26M
Learn more about XZB stock on TipRanks’ Stock Analysis page.