9R Milestones



A moment of reflection. Shares of VOM suspended, liabilities restructured.

May : Creditor applies to Singapore High Court to wind up VOM
June : VOM shares suspended from trading on the Catalist board
July : VOM begins process to reorganise liabilities while under protection from creditors


Working things out.

February : Maybank Singapore begins legal action to recover outstanding loans of around S$17 million
September : VOM signs term sheet to sell two properties pledged as collateral to Maybank Singapore
November : Maybank Singapore withdraws legal action


Corporate restructing begins. New shareholders emerge after share trading resumes following corporate restructing.
February : VOM signs agreement with Blue Ocean Capital Partners Pte Ltd (“BOCP”) and Ng Yeau Chong to raise S$3 million
June : VOM enters into scheme of arrangement; proposes 50-to-1 share consolidation and submits trading resumption proposal to SGX-ST
July : SGX-ST grants in-principle approval for resumption of trading
August : VOM exits scheme of arrangement; completes share consolidation; trading of shares resumes
November : A group of Malaysian investors and business owners acquire 87% of VOM from BOCP and Ng Yeau Chong. Acquisition triggers mandatory cash offer for the rest of the Group’s shares and warrants


A new era begins. VOM renamed 9R, shareholders approve proposals to diversify business.
January : Mandatory cash offer closes; Announces placement of shares to an individual to raise nearly S$0.9 million; Incorporates DSC
March : Proposes rights cum warrants issue, share placement, business diversification, change of name, and disposal of offshore and marine subsidiaries (collectively the “Corporate Proposals”); DSC enters into exclusive distributorship cooperation agreement with a robot supplier from China
May : Shareholders of VOM approve Corporate Proposals; Incorporates 9R Leisure to spearhead lifestyle retail business
June : Raises net proceeds of S$3.3 million from rights cum warrants issue
July : VOM renamed 9R Limited; Sells remaining offshore and marine business
August : Incorporates GR9 Jewel Sdn Bhd
September : 9R announces acquisition of Compact Sensation Sdn Bhd (“CSSB”), marking its entry into the lifestyle retail business with the Red Box Plus outlet located at Pavilion KL
November : Completes share placement announced in March, raising S$12.2 million in net proceeds