Capital World Proposes Capital Reduction to Write Off MYR938.7 Million in Losses
MT Newswires
Oct 08
Capital World (SGX:1D5) proposed a capital reduction, a 100-for-1 share consolidation, and a re-domiciliation from the Cayman Islands to Singapore, according to a Wednesday filing with the Singapore Exchange.
The company plans to reduce its share capital by 162.4 million ringgit and share premium by 776.3 million ringgit to wipe out 938.7 million ringgit in accumulated losses. The share consolidation will shrink its share base to roughly 161 million, while the move to Singapore is expected to lower administrative and compliance costs.
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