YHM Group clinched USD37m deal to lease power-generation equipment

Deal is on a 20-year lease period.

According to OSK, YHM Group has secured a contract worth more than USD37 million over a 20-year period to lease a set of hydroelectric power-generation equipment for power supply to a national utility board in South Asia which is expected to commence after the commissioning of the power plant, which is expected before the end of this year.

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The company is planning to place one billion new warrants, each at SGD0.025 to raise net proceeds of about SGD24.5 million, and has appointed Maybank Kim Eng Securities as its placement agent.

It represents 12.26% of the company's issued and paid-up share capital, and 10.92% of its enlarged issued share capital. Each warrant will entitle the holder to subscribe for one new ordinary share at the exercise price o SGD0.023.