Citybuilders Pte Ltd announced that it expects to receive SGD 0.10 million in funding from Amplefield Limited and another investor.

Citybuilders Pte Ltd announced a private placement of 99,999 shares at SGD 1 per share for gross proceeds of SGD 99,999 on January 2, 2014. The transaction will include participation from new investors, Regional Connexiona, which will invest SGD 59,999 and Amplefield Limited, which will invest SGD 40,000. The investor will invest in the proportion of 60:40.

The transaction is expected to close on February 28, 2014.