FINANCIAL INFORMATION
Prospectus Summary
(extracted from the Offer Document)
THE INVITATION
Invitation in respect of 174,000,000 Invitation Shares comprising 160,000,000 New
Shares and 14,000,000 Vendor Shares as follows:
- (i) 3,000,000 Offer Shares at S$0.25 each by way of public offer; and
- (ii) 171,000,000 Placement Shares at S$0.25 each by way of placement,
payable in full on application.
INDICATIVE TIMETABLE FOR LISTING
An indicative timetable is set out below for your reference:
| Indicative Date and Time | Event |
|---|---|
| 14 January 2014, 5.00 p.m. | Commencement of the Invitation |
| 20 January 2014, 12.00 noon | Close of Application List |
| 21 January 2014 | Balloting of applications, if necessary (in the event of oversubscription for the Offer Shares) |
| 21 January 2014 | Commence returning or refunding of application monies to unsuccessful or partially successful applicants |
| 22 January 2014, 9.00 a.m. | Commence trading on a "ready" basis |
| 27 January 2014 | Settlement date for all trades done on a "ready" basis |
The above timetable is only indicative as it assumes that the date of closing of the Application List is 20 January 2014, the date of admission of our Company to Catalist is 22 January 2014, the SGX-ST's shareholding spread requirement will be complied with and the Invitation Shares will be issued and fully paid-up prior to 9.00 a.m. on 22 January 2014. The actual date on which our Shares will commence trading on a "ready" basis will be announced when it is confirmed by the SGX-ST.
The above timetable and procedure may be subject to such modifications as the SGX-ST may, in its discretion, decide, including the decision to permit commencement of trading on a "ready" basis and the commencement date of such trading.
USE OF PROCEEDS FROM THE INVITATION AND EXPENSES INCURRED
| Amount (S$'000) |
Estimated amount for each dollar of the gross proceeds from the issue of the Invitation Shares (cents) |
|
|---|---|---|
| Use of the proceeds from the issue of New Shares | ||
| Capital expenditure for enhancement of yard facilities and fleet expansion | 20,000 | 50.00 |
| Expansion of business scope via investments, acquisitions and strategic alliances | 7,000 | 17.50 |
| General working capital | 9,400 | 23.50 |
| Net proceeds from the issue of New Shares | 36,400 | 91.00 |
| Expenses to be borne by our Company | ||
| Listing and processing fees | 43 | 0.11 |
| Professional fees and expenses | 1,620 | 4.05 |
| Underwriting and placement commission and brokerage | 1,300 | 3.25 |
| Miscellaneous expenses | 637 | 1.59 |
| Gross proceeds from the issue of New Shares | 40,000 | 100.00 |
For more details, please refer to the Offer Document
Kim Heng Business
Offshore Renewable Construction
HDD entails the implementation of a dirigible, trenchless technique and design for the installation of underground cables and pipelines. Kim Heng being an experience turnkey HDD contractor, is capable to undertake the seamless integration of Front End Engineering Design (FEED) by offering a one stop solution on outfall projects.
Marine Construction
Upon confirmation on the types of foundations to be used at site, Kim Heng can undertake the full turnkey construction project in our very own fabrication shipyards which are equipped with modern construction facilities and machineries to fabricate customized large steel structures and equipment.
Shipbuilding & Engineering
As part of a good maintenance program throughout the entire project lifespan, Kim Heng can provide self-constructed, locally flagged and operated CTV vessels and offshore support vessels equipped with walk to work gangway to ferry GWO-trained service engineers and technicians to service offshore wind turbine operation.
Offshore Chartering, Towage & Transportation
Our long term strategy is to enhance our competitiveness & capabilities to own and operate a comprehensive fleet of AHTS, AHT, Tugs & Barges and Fast Crafts to provide anchor handling operation and other support services for your offshore operation needs.
Offshore Oilfield Services
With over 50 years of marine & offshore experience, Kim Heng has been a trusted partner in the provision of port agency services, rig towage & mobilization, rig repair, steel structure fabrication and maintenance of rig drilling tubulars & equipment.