KUALA LUMPUR: Ta Win Holdings Bhd
today has proposed to undertake a reduction of RM190 million in its issued share capital to reduce the company’s accumulated losses.
In a Bursa Malaysia filing today, it said that as at the latest practicable date, the issued share capital of the company is RM303.64 million comprising 3.67 billion ordinary shares.
Ta Win said the proposed share capital reduction will enable the company and the group to rationalise their financial positions by reducing the accumulated losses.
"The surplus after eliminating the company’s accumulated losses shall be credited to the company’s retained earnings, which shall be used in such manner as the board deems fit.
"Additionally, reducing the accumulated losses is expected to enhance the company and the group’s credibility among its bankers, customers, suppliers and investors," the filing said.
Ta Win said the proposed exercise is expected to be completed by the first quarter of 2026. - Bernama
