PETALING JAYA: Harvest Miracle Capital Bhd
’s rights issue has been oversubscribed by 20.24%, securing the maximum proceeds of RM98.43mil.
In a statement, the information technology and information communication technology firm said this resounding investor confidence underscored a significant step in the group’s strategy to enhance its business competitiveness for sustained growth.
“With the RM98.43mil proceeds raised, Harvest Miracle aims to fortify its financial foundation and ensure effective management of its strategic initiatives.
“A significant portion of the funds is earmarked for the Antara Genting project in the property investment segment and the expansion of the group’s moneylending business.”
As of Nov 28, 2024, the Antara Genting project has reached 80% completion. The group has also paid RM197.08mil (80%) of the total consideration of RM246.35mil.
With the proceeds from this rights issue, amounting to RM49.27mil, the outstanding balance will be fully settled, ensuring the project is paid in full and poised for timely delivery.
Meanwhile, the allocation of RM45.89mil to the moneylending segment will enable the group to offer financing solutions to a broader range of customers.
“These include personal financing, working capital, business start-ups, real estate purchases, project financing, equipment financing, and more, with or without collateral,” the company said.
