Pegasus Heights Bhd (PHB) is slowing down its spending to upgrade the group's Centerpoint Seremban shopping mall in Negeri Sembilan, due to the Covid-19 pandemic.
PHB, formerly known as Naim Indah Corp Bhd had raised total gross proceeds of RM53.97 million from a rights issue on June 26, 2019.
It intended to utilise RM23.1 million from the proceeds to promote, upgrade, and maintain the mall within 36 months. As of April 30, 2020, it had utilised RM17.57 million.
Overall, the group had utilised RM37.64 million of the total proceeds from the rights issue as of April 30, 2020, for working capital, repayment of bank borrowings, expansion of its food and beverage business, and the mall.
Read full at https://www.nst.com.my/property/2020/05/591866/pegasus-slows-down-seremban-mall-upgrade
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