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Transcu plans capital reduction to write off losses

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Anita Gabriel

Anita Gabriel

Published Fri, Jul 4, 2014 · 10:00 PM

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.

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