Transcu plans capital reduction to write off losses
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Anita Gabriel
Singapore
TRANSCU Group plans to undertake a $734.38 million capital reduction exercise to rationalise its balance sheet to better reflect the value of its underlying assets.
The firm, which has been on the Singapore Exchange's watch-list since last December, intends to get shareholder approval to reduce its share capital to $2 to write off its accumulated losses, which as at end-June 2014 stood at some $744.4 million.
