Asiamedic Limited (SG:505) has released an update.
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Asiamedic Limited has utilized a significant portion of the net proceeds from its January 2020 rights issue, mainly for reducing group indebtedness and for general corporate purposes including capital expenditures. Out of the total S$8.523 million allocated, S$7.9 million has been spent, leaving a balance of S$421,000. The spending aligns with the company’s planned allocation, and further updates will be provided when the remaining balance is substantially used.
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