Asia
MMAG Holdings Proposes MYR130 Million Capital Reduction to Offset Losses
MMAG (KLSE:MMAG) has proposed a reduction of up to 130 million ringgit of its share capital, according to a Tuesday Bursa Malaysia filing.The logistics and aviation company is proposing the exercise to eliminate its accumulated loses which stood at 128.8 million ringgit as of March 31 and 128.6 million ringgit as of June 30.The proposed reduction is intended to rationalize its financial position and will not result in any change to its share price.
KLSE:MMAG
