It said it is working closely with the Ministry of Health to implement mitigating steps to contain the spread of Covid-19 at the premises. Ho Wah Genting Bhd is planning to raise up to RM34.58 million via a private placement. The group said it would be placing up to 60.67 million new shares, representing 10% of its share capital of 606.68 million shares, among third-party investors. Ho Wah Genting plans to use up to RM12 million of the placement proceeds to purchase healthcare products and for research and development activities for its healthcare-related business. Another RM10 million would be used to fully repay a loan from Hong Kong-based Prime King Investment Ltd, which had given Ho Wah Genting a short-term advance for working capital purposes. The group added that up to RM11.77 million of the proceeds would be used for general working capital requirements.