We expect the proceeds from the Public Issue of approximately RM26.45 million to be fully utilised by our Group in the following manner:
|Details of the utilisation of proceeds||Amount of proceeds||Estimated timeframe for utilisation from the date of Listing|
|- Construction of new warehouse||4,750||17.96||Within six (6) months|
|- Expansion of fleet of vehicles||11,355||42.93||Within twenty four (24) months|
|Repayment of bank borrowings||3,750||14.18||Within six (6) months|
|Working capital||3,081||11.65||Within twenty four (24) months|
|Estimated listing expenses||3,511||13.28||Within three (3) months|
* Further details on the utilisation of proceeds are set out in Section 3.9 from page 26 to page 28 of Xin Hwa Holdings Berhad's Prospectus dated 11 June 2015.