Pegasus Heights in capital reduction bid

KUALA LUMPUR: Pegasus Heights Bhd (PHB) will undertake a capital reduction of RM180mil of its issued share capital, which is lost and unrepresented by available assets.

As of May 3, 2023, the total issued share capital of PHB was RM210.18mil, comprising 10.82 million ordinary shares.

In a filing with Bursa Malaysia yesterday, PHB said the corresponding credit of RM180mil, arising from the proposed capital reduction, would be utilised to eliminate the company’s accumulated losses. It also proposed to diversify its existing business activities and subsidiaries to include the money-lending business. — Bernama