Davis Commodities Secures $7.4 Million Banking Facility for Strategic Growth

MT Newswires Live2024-12-24

Davis Commodities (DTCK) said Monday it obtained a 10 million Singapore dollars ($7.4 million) banking facility to aid in its strategic growth and operational development.

The company said it plans to use the funds for several key strategies, including optimizing working capital through bulk purchasing and inventory management, expanding trade credit services to reliable customers, investing in supply chain efficiencies, pursuing hedging and arbitrage opportunities, financing high-return on investment projects, and forming strategic partnerships.

Shares of Davis Commodities were up 6.5% in recent Monday trading.

Price: 1.06, Change: +0.07, Percent Change: +6.53

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