IFCA MSC Berhad (KLSE:IFCAMSC) commences share repurchases on March 15, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2021. As per the mandate, the company is authorized to repurchase shares such that its holding in treasury does not exceed 10% of its issued share capital. The repurchases will be financed by internal generated funds.

The aggregate amount of the funds to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits of the company. The company may decide either to retain the shares purchased as treasury shares or cancel the shares or retain part of the shares so purchased as treasury shares and cancel the remainder or to resell the shares or distribute the shares as dividends. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is carried out to the full extent, unless varied or revoked in a General Meeting.