Ocean embarks on major revamp

OCEAN Capital Bhd is embarking on a major restructuring exercise which will see the injection of supermarket chain Pasaraya Hiong Kong into the group and a new company assuming its listing status on the KLSE main board. 

As part of the exercise, the company has proposed that its entire paid-up share capital of RM39.9mil be cancelled to partly offset its accumulated losses of over RM59mil.