SGX requires the placement to be completed by Dec 31. As such, Salt Investments will regard Hin and Yip as having repudiated their respective subscription agreements and will consider claiming damages.
Salt Investments is looking for alternative funding after two investors who were supposed to take part in a placement did not pay up in time.
According to the company on Jan 1, it had reminded Hin Chin Qui and Yip Kean Mun to transfer amounts totalling $4 million by Dec 30 but did not hear from them.
