<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 2): Power cables and wires manufacturer Sarawak Cable Bhd has proposed to raise up to RM7.29 million through a private placement to fund its working capital requirements.</p></div>

<div class=newsTextDataWrapInner><p>Sarawak Cable said the working capital requirement includes procurement cost for raw materials for the group's power and telecommunication cable manufacturing operations and steel structures fabrication operations.</p></div>

<div class=newsTextDataWrapInner><p>Besides that, proceeds will also be utilised for the installation and commissioning cost of several ongoing transmission line projects of the group as well as construction and commissioning cost of the mini-hydro power plant project in north Sumatera, Indonesia, which is expected to be fully operational by the fourth quarter of 2019.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The&nbsp; private placement will entail issuance of up to 31.71 million placement shares, representing up to 10% of the existing issued shares of the group, the group said in its filing with Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Sarawak Cable closed 1 sen or 3.85% lower today at 25 sen for a market capitalisation of RM79.26 million.</p></div>


Power cables and wires manufacturer Sarawak Cable Bhd has proposed to raise up to RM7.29 million through a private placement to fund its working capital requirements.

Sarawak Cable said the working capital requirement includes procurement cost for raw materials for the group's power and telecommunication cable manufacturing operations and steel structures fabrication operations

Sarawak Cable proposes private placement to raise up to RM7.29m

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