KUALA LUMPUR (May 26): UEM Edgenta Bhd (KL:EDGENTA) returned to profit in the first quarter and said its shares will be suspended from trading from June 12 to support its selective capital reduction and repayment exercise ahead of privatisation by UEM Group Bhd, a unit of Khazanah Nasional Bhd.
The exercise, which will see UEM Group increase its stake from 69.14% to 100%, was approved by shareholders at an extraordinary general meeting in early April.
This paves the way for the company’s delisting from the Main Market in July.
Under the SCR, UEM Group will acquire the remaining 30.86% stake or about 257 million shares at RM1.10 per share involving a total cash payout of approximately RM282 million to shareholders.
“The trading of UEM Edgenta shares will continue to be suspended until the delisting of UEM Edgenta from the Official List of Bursa Securities following the completion of the SCR,” the group said in a notice to shareholders filed with Bursa Malaysia on Tuesday.
UEM Group has said the privatisation would allow greater flexibility in managing UEM Edgenta’s operations amid a challenging environment, citing subdued post-pandemic performance, rising costs and lower dividend payouts compared with pre-2020 levels.
For the first quarter ended March 31, 2026 (1QFY2026), UEM Edgenta returned to the black with a net profit of RM2.02 million, versus a net loss of RM17.95 million a year earlier, supported by higher revenue from its asset management segment and improved margins from ongoing infrastructure solutions contracts.
Revenue for 1QFY2026 rose 4.34% to RM674.12 million from RM646.06 million. No dividend was declared.
For FY2025, UEM Edgenta posted its largest annual net loss since 2003 at RM401.19 million, on the back of weaker revenue of RM674.12 million.
Shares of UEM Edgenta closed unchanged at RM1.10 on Tuesday, valuing the group at RM914.79 million.