Bermaz Auto Berhad (KLSE:BAUTO) commences share repurchases on August 16, 2022, under the program mandated by the shareholders in the Annual General Meeting held on October 7, 2021. As per the mandate, the company is authorized to repurchase its own shares, such that the company's holding in treasury does not exceed 10% of its issued share capital. The maximum funds to be allocated by the company for the purpose of purchasing the ordinary shares shall not exceed the total retained profits of the company.

The repurchases will be financed out of the internally generated funds coupled with minimum bank borrowings. All the repurchased shares will be cancelled or retained as treasury shares. 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 varied or revoked in a General Meeting.