GRP Limited spends $12.96m of rights issue proceeds for new business, working capital

This was out of the total $13.195m of the net proceeds.

GRP Limited announced that it has used $12.957m as of 20 January 2026 out of the $13.195m net proceeds from its rights issue.

It has utilised a total of $6.372m in its new business and $3.370m in general working capital as of 26 September 2025, GRP said in its breakdown of proceeds use in a bourse filing.

The firm’s new business recorded net proceeds of $12.354m with $5.982m in reallocation, it added.

Net proceeds of the company’s general working capital were recorded at 0.841m with $5.982m in reallocation.

GRP’s shareholder loan and working capital to Ratus Nautika Sdn Bhd, an indirect 70%-owned subsidiary company, stood $3.215m, the breakdown showed.

GRP’s balance as of 21 January 2026 amounted to $0.238m, it added.

The shareholder loan and working capital funding to Ratus Nautika Sdn Bhd is for the affordable housing project undertaken by Ratus.

The project consists of 1,039 units of single-storey terrace houses and 28 units of terraced shops in Sri Iskandar, Mukim Bota, Perak Tengah District, Malaysia, which a new contractor to complete the project was appointed in May 2025.

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