Kuala Lumpur — Iskandar Waterfront City Bhd (IWCITY) has secured approval from Bursa Malaysia Securities for its proposed regularisation plan, which includes a debt settlement and capital reduction, aimed at exiting its affected listed issuer status.
According to the company’s filing on Tuesday, the Bursa approval relates to prior announcements made on March 20, 2025, and September 22 and 23, 2025, regarding the proposed corporate restructuring measures.
The board had previously declared on June 10, 2022, that IWCITY was classified as an affected listed issuer under Paragraph 8.03A(7)(b) of Bursa’s Main Market Listing Requirements. This designation arose because the group’s consolidated revenue had fallen below 5% of its share capital, rendering its business operations insignificant.
The company’s regularisation plan entails the issuance of new shares to settle existing debts, a potential private placement, and a capital reduction, all designed to strengthen the balance sheet and restore compliance with Bursa’s listing requirements.
This development positions IWCITY to better focus on strategic opportunities in high-demand property and commercial sectors, including industrial land in Selangor, office space in Bukit Jalil, factory developments in Puchong, and commercial property in KL, aligning with the growing demand for industrial property in Subang area and surrounding growth corridors.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 7 Jan 26
Malaysia