Pan Malaysia Corporation Bhd (PMCorp) has proposed a RM184.94 million reduction in its issued share capital to offset accumulated losses and strengthen its balance sheet.
In a filing with Bursa Malaysia, PMCorp said the proposed exercise will be undertaken under Section 117 of the Companies Act 2016 through the cancellation of RM184.94 million of its issued share capital.
The company said the reduction was determined against the group’s audited accumulated losses of RM163.17 million as at June 30, 2025 and unaudited accumulated losses of RM219.74 million as at June 30, 2026.
The corresponding RM184.94 million credit arising from the capital cancellation will be used to offset accumulated losses, while any remaining balance will be credited to retained earnings for future use as determined by the board and permitted under applicable laws and Bursa Malaysia’s listing requirements.
As at the latest practicable date, PMCorp had issued share capital of RM249.74 million comprising 884.48 million shares, of which 32.46 million shares with a value of RM4.80 million were held as treasury shares.
PMCorp said the proposed capital reduction would allow the company and group to rationalise their financial positions and improve the presentation of their balance sheets.
