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Full Version: Capital World (formerly: Terratech Group)
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Marble producer launches IPO

A PREMIUM-quality marble producer has launched an initial public offering (IPO), seeking to list on the Catalist board of the Singapore Exchange.
Terratech Group Limited, a Singapore business, launched its IPO of 108.7 million shares, comprising 43.5 million new shares and 65.2 million vendor shares, at S$0.23 per share on Monday.
At that IPO price per share, the estimated gross proceeds will come in at S$25 million.
The group operates at the Kelantan Marble Quarry in Malaysia, consisting of four hills with an extraction area of up to 25.94 ha.
The company will be changing its name from "Terratech Group Limited" to Capital World Limited" with effect from 4 May 2017..
Profit Guidance for the Financial Year Ended 30 June 2019

The board of directors informed the shareholders of the Company that based on the preliminary review of its consolidated results for the financial year ended 30 June 2019 (“FY2019”), the Group is expected to report a net loss for FY2019.

The net loss is due to, inter alia, impairment of the intangible assets relating to the mining rights and goodwill for Group’s exclusive rights to the production and sale of premium quality marble blocks, slabs and aggregates from its quarry in Kelantan, Malaysia.

The Group is in the process of finalizing its financial results for FY2019. Further details of the Group’s financial performance will be disclosed when the Company releases its unaudited financial results for FY2019 on or before 29 August 2019.