EcoWorld International proposes RM1.5bil share capital reduction exercise

Eco World International Bhd president and chief executive officer Datuk Teow Leong Seng

KUALA LUMPUR: Eco World International Bhd is undertaking a corporate exercise to reduce RM1.5 billion of its issued share capital pursuant to Section 117 of the Companies Act 2016.

The corresponding credit arising from the proposed capital reduction will be used to set off against the company’s accumulated losses while the remaining balance will be credited to the retained earnings of the company.