friday27 sep24..The Edge.. also planning a share capital reduction to cancel up to RM160 million to reduce its accumulated losses and improve its financial position, and a private placement involving up to 244 million new shares or 20% of its current issued shares to raise up to RM19.5 million to repay borrowings and for working capital. —??????

why company exercise share capital reduction?...What is reduction of share capital on balance sheet?

A company may reduce its share capital for several reasons, e.g., to write-off heavy losses, to rehabilitate a sick company, to pay off capital which is far in excess of its wants, etc. A company may also undertake a reduction of capital as a part of its Balance Sheet Restructuring

... It is also planning a share capital reduction to cancel up to RM160 million to reduce its accumulated losses and improve its financial position, and a private placement involving up to 244 million new shares or 20% of its current issued shares to raise up to RM19.5 million to repay borrowings and for working capital. — Bintai Kinden doubles down on construction business to exit PN17