Velesto plans RM1.2bil capital reduction to strengthen financial position

Quick Summary:

KUALA LUMPUR: Velesto Energy Bhd has proposed a capital reduction exercise, reducing RM1.20bil from its issued share capital pursuant to Section 116 of the Companies Act 2016.

Additionally, it will not affect the group’s net asset value.

Velesto plans RM1.Velesto plans RM1.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Corporate News Capital reduction Velesto /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-25 @ 19:28:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 287 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 27320818

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