Asia File Corporation Bhd. (KLSE:ASIAFLE) commences share repurchases on May 31, 2023, under the program mandated by the Annual General Meeting held on September 29, 2022. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital, such that the company's holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time.

The program will be financed wholly out of retained profits of the company based on the latest audited financial statement of the company. The company may cancel all the shares so purchased, retain the shares so purchased in treasury for distribution as dividend to the shareholders and/ or resell on the market of Bursa Securities or retain part thereof as treasury shares and cancel the remainder. 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.