UWC redirects proposed placement funds from debt repayment to expansion
The revised allocation raises factory expansion funding to RM230.13 million and working capital funding to RM150.43 million.
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The revised allocation raises factory expansion funding to RM230.13 million and working capital funding to RM150.43 million.
The group obtained approval to reschedule a RM33.5 million term loan, but its auditor said liquidity remains dependent on planned initiatives.
The proposed appointment of subsidiary Handal Indah would run from Jan 1, 2027 until March 31, 2031, with contract terms still subject to discussion.
Operations are expected to begin in 2030 under the agreement with PETRONAS LNG Ltd. The contract value was not disclosed.
A further RM8.6 million was allocated for restitution involving 933 investors, Finance Minister II Datuk Seri Amir Hamzah Azizan told Parliament.
Market breadth was negative, with 466 declining counters against 197 gainers. Trading value reached RM370.21 million.
The construction firm's move from ACE Market involves no new share offering, while its stock code and short name are unchanged.
An economist said markets were watching the fiscal deficit outlook as energy price shocks were expected to affect the 2026 target.
The company said revenue from the suspended services ceased from Oct 5, 2026, with no timeframe available for resolving the dispute.
The government had paid RM42.5 billion towards 1MDB commitments by Aug 31, 2026, while asset recovery efforts yielded RM31.3 billion.