KUALA LUMPUR (July 24): Private Education provider Cyberjaya Education Group Bhd (KL:CYBERE) has proposed a share capital reduction to offset RM235 million in accumulated losses to strengthen its financial position.
The exercise will eliminate the group’s RM235 million in accumulated losses as at end-March, leaving it with positive reserves of RM121.6 million. Its unaudited accumulated losses stood at RM113.24 million at the group level.
At the company level, its unaudited accumulated losses of RM229.73 million will also be fully eliminated, resulting in positive reserves of RM5.12 million, said the group in a bourse filing on Friday.
The company said its issued share capital stood at RM415.3 million as at July 1, comprising 172.16 million shares. Under the minimum scenario, its share capital will be reduced to RM180.31 million upon completion of the exercise.
Assuming all 21.57 million remaining shares under its share grant scheme are issued before the exercise, its share capital would instead be reduced from RM444.21 million to RM209.21 million under the maximum scenario.
The exercise, which is subject to shareholders' approval at an extraordinary general meeting and confirmation by the High Court of Malaya, is expected to be completed by the fourth quarter of 2026.
Formerly known as Minda Global Bhd, the group operates University of Cyberjaya (UoC), Asia Metropolitan University (AMU) and Cyberjaya Colleges.
The group’s net profit more than doubled to RM28.59 million for the nine months ended March 31, 2026 (9MFY2026), from RM13.53 million in 9MFY2025, as revenue rose 13.33% to RM147.54 million, from RM130.18 million a year earlier.
A growing student base, improved programme mix, operating leverage, and continued cost discipline supported the stellar results.
The group had total borrowings of RM159.2 million as at end-March, against cash and bank balances of RM8.1 million.
On Friday, Cyberjaya Education’s share price closed up two sen or 1.31% at RM1.55, giving the group a market capitalisation of RM267 million. The stock has risen over 70% since the start of this year.