Koda Increases Share Capital of Subsidiary

MT Newswires07-01

Koda (SGX:BJZ) has increased the issued and paid-up share capital of its wholly owned unit, Commune Lifestyle Sdn Bhd, from 4 million ringgit to 5.4 million ringgit, according to a Friday filing on the Singapore bourse.

The increase was achieved through the issuance of 1.4 million new ordinary shares at 1 ringgit each to Commune Lifestyle Pte Ltd, another wholly owned unit of Koda.

This capital increase, which involved the capitalization of intercompany loans amounting to 1.4 million ringgit, was previously advanced for Commune Lifestyle Sdn Bhd's working capital needs.

Commune Lifestyle Sdn Bhd remains a wholly owned unit of Koda post-transaction.

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