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SINGAPORE : CCM unit secures $5.9m contract, ups share capital by $500,000
Publish Date : 02-Dec-2011
CCM Group Limited announced that its wholly-owned subsidiary, CCM Industrial Pte Ltd, has secured a $5.9 million contract for a temple at Philip Street.
Under the contract, CCM Industrial will act as the main contractor for the proposed restoration and addition works to Yueh Hai Ching Temple.
Work commenced on Oct 1 and is scheduled for completion within 25 months.
Separately, the Singapore-listed company announced that CCM Industrial has raised its share capital by $500,000.
CCM Industrial issued 500,000 new shares of $1 each to CCM Group. The proceeds will be used to finance its working capital requirements.
Consequently, the shareholding of CCM Group in CCM Industrial has been raised to $7 million, from $6.5 million.
