Genting Malaysia Berhad (KLSE:GENM) commences share repurchases on February 28, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 19, 2019. 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. The repurchased shares will either be cancelled or retained in treasury to be distributed as share dividends to the shareholders and/or be resold on Bursa Securities in accordance with the relevant rules of Bursa Securities and/or be transferred for the purposes of an employees’ share scheme and/or be transferred as purchase consideration and/or be cancelled subsequently and/or be sold, transferred or otherwise be used for such purposes of the minister charged with the responsibility for companies may by order prescribe or may cancel part of the shares repurchased and retain the remaining as treasury shares. The maximum fund to be allocated by the company for the purpose of purchasing the shares shall be subject to the amount of retained earnings. 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.