Magma wraps up RM379mil capital reduction

PETALING JAYA: Magma Group Bhd has completed its RM379.21mil capital reduction exercise to strengthen its balance sheet and enhance financial flexibility for future expansion.

In a statement, the company said the completion follows the lodgement of the High Court of Malaya’s sealed order with the Companies Commission of Malaysia on Aug 13, 2025, confirming the Special Resolution passed by shareholders at its EGM on March 21, 2025.

“Through this exercise, Magma’s issued share capital has been reduced from RM669.15mil to RM289.94mil through the cancellation of RM379.21mil. The number of shares in issue remains unchanged at 1.68 billion, with no impact on shareholders’ equity ownership.”