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USE OF PROCEEDS<br />
We expect to receive net proceeds of approximately $5.1 million after deducting estimated offering<br />
expenses, from the issue of 30,000,000 New Shares. We intend to use the proceeds of the offering<br />
for the following specific purposes:-<br />
(i) approximately $4.0 million to finance business expansion as elaborated on page 56 of this<br />
Prospectus;<br />
(ii) approximately $0.5 million to finance the upgrading of warehousing facility and the installation<br />
of the hardware and software for our inventory tracking system (our current inventory management<br />
system is set out on page 40 of this Prospectus); and<br />
(iii) the balance of $0.6 million to be used for working capital purposes.<br />
Pending the deployment of the net proceeds for the purposes mentioned above, the proceeds from<br />
the subscription of the New Shares may be deposited with banks or financial institutions or invested<br />
in short term money market instruments, or used as working capital, as our Directors may in their<br />
absolute discretion deem fit.<br />
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