KUALA LUMPUR: Flexidynamic Holdings Bhd will extend the utilisation of RM15.05 gross proceeds raised from its initial public offering (IPO) by 18 months.

       This was due to plans being deferred by movement restrictions caused by the Covid-19 outbreak in the country.

       In a filing with Bursa Malaysia, the glove chlorination specialist said the construction of its two factory units was expected to be completed by May 2021 but due to the disruption in the construction sector, the factories are anticipated to be completed only in December 2021.

       “The implementation of the various movement control order under the National Recovery Plan phase one had resulted in the disruption of the construction sector.- Bernama