EWI plans capital reduction totalling RM1.5bil

PETALING JAYA: Eco World International Bhd (EWI) is proposing undertaking a capital reduction exercise to the amount of RM1.5bil, with the credit arising to be used to set off against the company’s accumulated losses and the remaining balance will be credited to the retained earnings.

As at Oct 31, 2022, the accumulated losses of the company as well as EWI group stood at about RM125.8mil and RM144.4mil, respectively, it said in a filing with Bursa Malaysia.