SIIC Environment injects another $15.52m into Chinese subsidiary

It will be used to fund two water projects.

SIIC Environment Holdings Ltd. yesterday revealed that it had injected an additional capital of RMB74.5 million (approximately S$15.52 million) in its wholly-owned subsidiary, Wuhan Huang-Pi Kaidi Water Services Co., Ltd.

According to OSK DMG, the investment will be used to fund the construction expenditure and working capital needs in relation to two water projects undertaken by Wuhan Huang-Pi.

“With the drawdown of SGD15.52m (RMB74.5m) for this investment, SIIC will have a net proceeds (from placement) balance of SGD139.26m,” noted OSK DMG.

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