New Risk • Jun 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.0m (US$9.29m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-S$2.8m). Market cap is less than US$10m (S$12.0m market cap, or US$9.29m). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (S$6.4m revenue, or US$5.0m). Reported Earnings • May 17
First quarter 2026 earnings released: S$0.003 loss per share (vs S$0.002 loss in 1Q 2025) First quarter 2026 results: S$0.003 loss per share (further deteriorated from S$0.002 loss in 1Q 2025). Revenue: S$2.42m (up 113% from 1Q 2025). Net loss: S$920.0k (loss widened 34% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 17% per year. New Risk • May 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-S$1.9m). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (S$4.9m revenue, or US$3.8m). Market cap is less than US$100m (S$13.7m market cap, or US$10.7m). Announcement • Apr 24
OxPay Financial Limited has completed a Follow-on Equity Offering in the amount of SGD 0.99709 million. OxPay Financial Limited has completed a Follow-on Equity Offering in the amount of SGD 0.99709 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,841,000
Price\Range: SGD 0.03233 Reported Earnings • Apr 17
Full year 2025 earnings released: S$0.01 loss per share (vs S$0.011 loss in FY 2024) Full year 2025 results: S$0.01 loss per share (improved from S$0.011 loss in FY 2024). Revenue: S$4.86m (up 34% from FY 2024). Net loss: S$3.06m (flat on FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Apr 13
OxPay Financial Limited, Annual General Meeting, Apr 28, 2026 OxPay Financial Limited, Annual General Meeting, Apr 28, 2026, at 10:00 Singapore Standard Time. Location: cypress room, metropolitan ymca singapore (2nd floor), 60 stevens road, singapore 257854, Singapore Announcement • Apr 03
OxPay Financial Limited has filed a Follow-on Equity Offering in the amount of SGD 0.99709 million. OxPay Financial Limited has filed a Follow-on Equity Offering in the amount of SGD 0.99709 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,841,000
Price\Range: SGD 0.03233 New Risk • Mar 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -S$3.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$3.2m free cash flow). Negative equity (-S$1.9m). Market cap is less than US$10m (S$12.5m market cap, or US$9.73m). Minor Risk Revenue is less than US$5m (S$4.8m revenue, or US$3.8m). New Risk • Mar 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.8m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$3.2m free cash flow). Negative equity (-S$1.9m). Market cap is less than US$10m (S$12.8m market cap, or US$9.99m). Minor Risk Revenue is less than US$5m (S$4.8m revenue, or US$3.8m). New Risk • Mar 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -S$3.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$3.2m free cash flow). Negative equity (-S$1.9m). Minor Risks Revenue is less than US$5m (S$4.8m revenue, or US$3.8m). Market cap is less than US$100m (S$14.3m market cap, or US$11.2m). Reported Earnings • Nov 11
Third quarter 2025 earnings released: S$0.002 loss per share (vs S$0.003 loss in 3Q 2024) Third quarter 2025 results: S$0.002 loss per share (improved from S$0.003 loss in 3Q 2024). Revenue: S$1.14m (up 25% from 3Q 2024). Net loss: S$687.0k (loss narrowed 26% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 20
First half 2025 earnings released: S$0.005 loss per share (vs S$0.004 loss in 1H 2024) First half 2025 results: S$0.005 loss per share (further deteriorated from S$0.004 loss in 1H 2024). Revenue: S$2.28m (up 26% from 1H 2024). Net loss: S$1.37m (loss widened 12% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. New Risk • Aug 16
New major risk - Negative shareholders equity The company has negative equity. Total equity: -S$152k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Negative equity (-S$152k). Minor Risks Revenue is less than US$5m (S$4.1m revenue, or US$3.2m). Market cap is less than US$100m (S$14.6m market cap, or US$11.4m). Announcement • Jul 10
OxPay Financial Limited announced that it has received SGD 2 million in funding On July 8, 2025, OxPay Financial Limited closed the transaction. The company raised SGD 2,000,000 and the Net proceeds after deducting expenses amounted to SGD 1,833,000. Announcement • May 30
OxPay Financial Limited announced that it expects to receive SGD 2.5 million in funding OxPay Financial Limited announced a convertible loan agreement with returning investor Oxley Capital Management Pte. Ltd. for the gross proceeds of SGD 2,500,000 on May 28, 2025. The price for each conversion share shall be SGD 0.01197 per conversion share. The loan (or part thereof) shall bear interest at the rate of 6.9% per annum commencing on and from the disbursement date of the relevant tranche of the loan. The lender shall advance the loan to the company in ten separate equal tranches. Reported Earnings • Apr 12
Full year 2024 earnings released: S$0.011 loss per share (vs S$0.005 loss in FY 2023) Full year 2024 results: S$0.011 loss per share (further deteriorated from S$0.005 loss in FY 2023). Revenue: S$3.63m (down 56% from FY 2023). Net loss: S$3.08m (loss widened 126% from FY 2023). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Announcement • Apr 09
OxPay Financial Limited, Annual General Meeting, Apr 24, 2025 OxPay Financial Limited, Annual General Meeting, Apr 24, 2025, at 10:00 Singapore Standard Time. Location: cypress room, metropolitan ymca singapore (2nd floor), 60 stevens road, singapore 257854, Singapore Reported Earnings • Feb 27
Full year 2024 earnings released: S$0.012 loss per share (vs S$0.005 loss in FY 2023) Full year 2024 results: S$0.012 loss per share (further deteriorated from S$0.005 loss in FY 2023). Revenue: S$3.63m (down 56% from FY 2023). Net loss: S$3.24m (loss widened 138% from FY 2023). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Market cap is less than US$10m (S$9.38m market cap, or US$7.02m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (S$3.3m revenue, or US$2.5m). New Risk • Dec 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Singaporean stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$32m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (S$9.10m market cap, or US$6.79m). Minor Risk Revenue is less than US$5m (S$3.3m revenue, or US$2.5m). New Risk • Aug 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -S$32m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-S$32m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Market cap is less than US$10m (S$11.0m market cap, or US$8.34m). Minor Risk Revenue is less than US$5m (S$3.3m revenue, or US$2.5m). Board Change • May 14
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Lead Independent Director Kesavan Nair is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 12
OxPay Financial Limited, Annual General Meeting, Apr 29, 2024 OxPay Financial Limited, Annual General Meeting, Apr 29, 2024, at 14:00 Singapore Standard Time. Location: Cypress Room, Metropolitan YMCA Singapore (2nd floor), 60 Stevens Road, Singapore 257854 Singapore Singapore Agenda: To consider the audited financial statements of the Company for the financial year ended 31 December 2023, together with the Directors’ Statement and Independent Auditors’ Report; to consider re-elect the Directors; to consider and approve the payment of Directors’ fees; to consider and approve the other business matters. Reported Earnings • Mar 01
Full year 2023 earnings released: S$0.007 loss per share (vs S$0.002 loss in FY 2022) Full year 2023 results: S$0.007 loss per share (further deteriorated from S$0.002 loss in FY 2022). Revenue: S$8.33m (down 16% from FY 2022). Net loss: S$1.86m (loss widened 293% from FY 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. New Risk • Feb 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (S$16.0m market cap, or US$11.9m). New Risk • Feb 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$13.2m (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Market cap is less than US$10m (S$13.2m market cap, or US$9.84m). Announcement • Nov 17
OxPay Financial Limited Announces Resignation of Koh Jin Kit as Managing Director OxPay Financial Limited announced resignation of Koh Jin Kit as managing director. Other DirectorShips Present: OxPay Financial Limited OxPay SG Pte. Ltd. OxPay Global Venture Pte. Ltd. OxPay Investment Pte. Ltd. OxPay Solutions Pte. Ltd. Ffastpay Pte. Ltd. OxPay (M) Sdn Bhd OxPay Holdings (Thailand) Company Limited OxPay (Thailand) Company Limited. Reason For Cessation: Due to concerns for his health, Mr. Koh wishes to reduce his work commitments. After having interviewed Mr. Koh and to the best of its knowledge, the Company's Sponsor, ZICO Capital Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for Mr. Koh's resignation. The Company is in the midst of confirming a potential candidate for the role of Managing Director and will make the necessary announcement when practicable. Announcement • Aug 03
OxPay Financial Limited to Report First Half, 2023 Results on Aug 14, 2023 OxPay Financial Limited announced that they will report first half, 2023 results on Aug 14, 2023 Reported Earnings • Apr 11
Full year 2022 earnings released: S$0.002 loss per share (vs S$0.12 loss in FY 2021) Full year 2022 results: S$0.002 loss per share (improved from S$0.12 loss in FY 2021). Revenue: S$9.87m (down 44% from FY 2021). Net loss: S$473.0k (loss narrowed 98% from FY 2021). Reported Earnings • Feb 24
Full year 2022 earnings released: S$0.001 loss per share (vs S$0.12 loss in FY 2021) Full year 2022 results: S$0.001 loss per share (improved from S$0.12 loss in FY 2021). Revenue: S$9.92m (down 44% from FY 2021). Net loss: S$292.0k (loss narrowed 99% from FY 2021). Announcement • Jan 19
Oxpay Financial Limited Appoints Koh Jin Kit as Managing Director, Effective Feb. 1, 2023 OxPay Financial Limited appointed Koh Jin Kit as Managing Director of the Company. Mr. Koh will be responsible for the overall strategic direction and development of the Company and its subsidiaries (the "Group") as well as for overseeing the marketing efforts and technical operations of the Group. Working Experience:- March 2021 - Jan 2023 Education and Career Guidance Counsellor Ministry of Education, Singapore October 2019 - June 2020 Business Adviser and Management Consultant Red Dot Payment Private Limited October 2017 - May 2019 Senior Vice President, Director of Operations and Services Department NTUC Link Private Limited January 2017 - September 2017 Director, Payvision Singapore/Hong Kong/Macau Payvision Singapore Pte. Ltd. Feb. 2014 - December 2016 Vice President, Head of Business Development and Sales Support for Asia Pacific Payvision Singapore Pte. Ltd. July 2013 - Feb. 2014 Business Adviser /Consultant September 2010 - June 2013 Group Chief Executive Officer and Director, Merchant Solutions for Brunei, China, Hong Kong, India, Macau, Malaysia, Singapore and Sri Lanka Merchant Solutions Private Limited (a joint venture of First Data and Standard Chartered Bank) May 2007 - September 2010 General Manager and Taiwan Branch Director Globalpayments Asia-Pacific Taiwan Branch (a joint venture of HSBC and Global Payments). Professional Qualifications:- Bachelor of Computer Science (Honours) Executive Master of Science in Industrial and Organisational Psychology & Management of Human Resources. Appointment Date is Feb. 1, 2023. Announcement • Jan 11
Oxpay Financial Limited Announces Resignation of Tan Chee Keong as Managing Director OxPay Financial Limited announced Resignation of Managing Director - Tan Chee Keong, to pursue other career opportunities. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director John Chin was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 12
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up S$29.4m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is forecast to grow 61%, compared to a 15% growth forecast for the industry in Singapore. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director John Chin was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 01
OxPay Financial Limited Announces the Resignation of Chan Wai Kiat as Chief Technology Officer of OxPay SG Pte. Ltd. and Executive Officer of the Group OxPay Financial Limited announced the resignation of Chan Wai Kiat as Chief Technology Officer of OxPay SG Pte. Ltd. (formerly known as MC Pay Pte. Ltd.) and as an Executive Officer of the Group. Reason For Cessation: Chan's health condition does not permit him to fully discharge his duties and responsibilities. Hence, Mr. Chan tendered his resignation as the Chief Technology Officer ("CTO") of OxPay SG Pte. Ltd. ("Resignation"). Announcement • Jun 23
OxPay Financial Limited (Catalist:TVV) acquired remaining 10% stake in Genesis Payment Solutions Pte Ltd. from y Jong Kim Poh for SGD 0.02 million. OxPay Financial Limited (Catalist:TVV) acquired remaining 10% stake in Genesis Payment Solutions Pte Ltd. from y Jong Kim Poh for SGD 0.02 million on June 22, 2022. The consideration has been fully paid by OxPay SG in cash upon the completion of the Acquisition. The Acquisition is funded by internal resources of the OxPay.
OxPay Financial Limited (Catalist:TVV) completed the acquisition of remaining 10% stake in Genesis Payment Solutions Pte Ltd. from y Jong Kim Poh on June 22, 2022. Announcement • Apr 09
OxPay Financial Limited, Annual General Meeting, Apr 26, 2022 OxPay Financial Limited, Annual General Meeting, Apr 26, 2022, at 10:00 Singapore Standard Time. Agenda: To receive and adopt the audited financial statements for the financial year ended December 31, 2021, together with the Directors’ Statement and Independent Auditors’ Report; to re-elect Mr. Tan Chee Keong who is retiring by rotation pursuant to Regulation 111 of the Company’s Constitution (the “Constitution”) and who, being eligible, offers himself for re-election as a Director; to re-elect Mr. Chee Kheng Hock, Rothschild who is retiring by rotation pursuant to Regulation 111 of the Constitution and who, being eligible, offers himself for re-election as a Director; to approve the payment of Directors’ fees of SGD 110,000 for the financial year ended December 31, 2021; and to consider other matters of the business. Board Change • Feb 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Non-Executive Independent Director Kesavan Nair is the most experienced director on the board, commencing their role in 2017. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Aug 25
Group Chief Financial Officer Choy Meng Sam has left the company On the 19th of August, Choy Meng Sam's tenure as Group Chief Financial Officer ended after less than a year in the role. We don't have any record of a personal shareholding under Choy Meng's name. A total of 8 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 13
Independent Non-Executive Chairman Albert Cheok Saychuan has left the company On the 30th of June, Albert Cheok Saychuan's tenure as Independent Non-Executive Chairman ended after less than a year in the role. We don't have any record of a personal shareholding under Albert Cheok's name. A total of 7 executives have left over the last 12 months. Executive Departure • Jul 13
Independent Director Noi Keng Koh has left the company On the 30th of June, Noi Keng Koh's tenure as Independent Director ended after less than a year in the role. As of March 2021, Noi Keng still personally held only 6.00k shares (S$2.4k worth at the time). A total of 7 executives have left over the last 12 months. Executive Departure • Jul 13
Non-Executive Independent Director Kim Huat Ong has left the company On the 30th of June, Kim Huat Ong's tenure as Non-Executive Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Kim Huat's name. A total of 7 executives have left over the last 12 months. Executive Departure • Jul 13
Joint Company Secretary Sey Liy Tan has left the company On the 1st of July, Sey Liy Tan's tenure as Joint Company Secretary ended after less than a year in the role. We don't have any record of a personal shareholding under Sey Liy's name. A total of 7 executives have left over the last 12 months. Executive Departure • Jun 04
Joint Company Secretary Beng Hong Ong has left the company On the 31st of May, Beng Hong Ong's tenure as Joint Company Secretary ended. We don't have any record of a personal shareholding under Beng Hong's name. A total of 4 executives have left over the last 12 months. Executive Departure • Jun 04
Joint Company Secretary Tan Swee Gek has left the company On the 31st of May, Tan Swee Gek's tenure as Joint Company Secretary ended. We don't have any record of a personal shareholding under Tan Swee's name. A total of 4 executives have left over the last 12 months. Executive Departure • May 01
Non-Executive Non-Independent Director has left the company On the 28th of April, Ching Wei Hung's tenure as Non-Executive Non-Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Ching Wei's name. A total of 2 executives have left over the last 12 months. Executive Departure • May 01
Non-Executive Non-Independent Director has left the company On the 28th of April, Weng Sui Ng's tenure as Non-Executive Non-Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Weng Sui's name. A total of 2 executives have left over the last 12 months. Announcement • Apr 29
MC Payment Limited's Subsidiary Launches E-Payment Services for Malaysia's Educational Services Industry MC Payment Limited announced that it has rolled out electronic payment services for Malaysia's Educational Services industry. Its wholly-owned subsidiary, MC Payment (M) Sdn Bhd, now offers e-invoicing, Quickpay (QR Payment) and web payment platform services for selected universities and private learning centres in the country. Announcement • Mar 12
MC Payment Limited announced that it expects to receive SGD 4 million in funding MC Payment Limited (Catalist:TVV) announced a private placement of 10,000,000 shares at a price of SGD 0.4 per share for gross proceeds of SGD 4,000,000 on March 10, 2021. The transaction will include participation from group of investors including Toh Soon Huat, Lim Tiong Kheng, other high net worth clients of OCBC Securities, and Levin Lee. The company will receive net proceeds of SGD 3,200,000 in the transaction. 
