Utilisation of Proceeds

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
RM'000 %
Business expansion
- 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
Total 26,447 100.00  

* 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.