well that was a bit out of the blue.Interesting that KWan Chee...

well that was a bit out of the blue.

Interesting that KWan Chee Seng (a director of the company) is subunderwriting for almost half the issue (He already has around 17M shares, will be taking up his full entitlement of 14M under the rights issue (so 31M) and up to 35M as a subunderwriter.

What's he playing at...?

The disclosure document has some info on Silver City, and MEP/PTS JV (two potential new IPOs), but I doubt some Singapore dude would come in and take a large holding, then get himself appointed director, and now subunderite a large cap raising just for that.

Cdchi1