CCM

CCM: Proposed an 8-for-1 rights issue at $0.005 each, with 1 bonus share for every 1 rights share subscribed. Effectively, this means that a shareholder with 1,000 CCM shares would end up with 17,000 CCM shares upon take up of the rights issue. CCM intends to use the maximum net proceeds of $143.5m for general working capital, to discharge costs of its S’pore construction projects, repay and redeem liabilities and pursue property development opportunities overseas, particularly in the US and Australia.