The proceeds from the issuance will primarily be earmarked to accelerate construction for projects with good take-up, landbanking and working capital. 2017 will see the expected final stage billings on delivery of vacant possession of properties amounting to approximately RM607 million which will further enhance the Group's cash position. "We are very pleased with the response to our Proposed Issuance which attracted mainly institutional investors as well as selected private wealth and private banking customers, showing the confidence they have in us", says Tan Sri Dato' Sri Leong. Tan Sri Dato' Sri Leong added "We are a growth minded developer and in terms of fund raising or financing options, we are guided by our capital management policy of not exceeding 0.5 times in net gearing and are also constantly exploring various options in balancing the interests of all stake holders.