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Sumatec Proposes To Raise RM80 Million Via Private Placement

KUALA LUMPUR, Feb 17 (Bernama) -- Sumatec Resources Bhd has proposed to undertake a private placement to third party investors to raise gross proceeds of about RM80 million.

In a filing to Bursa Malaysia, Sumatec said the investors would be identified later.

The proceeds, among others, are intended to meet Sumatec's obligations to provide investment funds under its investment agreement and as its general working capital.....