Silver Heritage Group Limited
(ASX:SVH) has received approval from the Central Bank of Nepal to transfer additional funds to its local FDI-approved investment company, Silver Heritage Investment Private Limited.
The gaming operations company says the aggregate amount of funds which can be transferred has increased from NPR1.95 billion to NPR 5 billion.
Silver Heritage says the increase covers the remaining capital expenditure needed in Nepal, to complete and open its Tiger Palace Resort in Bhairahawa.
The company says it was the last in a complex series of approvals needed to increase its foreign direct investment in Nepal.
Shares in Silver Heritage Group Limited
(ASX:SVH) closed 30 per cent lower to 7 cents.
