Pintaras Jaya converts RM60m intercompany loan into shares to boost subsidiary's capital

• With this move, PMSB’s paid-up capital increased from RM1 million to RM61 million.

KUALA LUMPUR (July 15): Pintaras Jaya Bhd (KL:PTARAS) has converted intercompany loans given to its subsidiary, Pintaras Megah Sdn Bhd (PMSB), into 60 million new shares at RM1 each in the company.

These loans were previously provided for PMSB’s working capital and operations, and were funded internally, according to a voluntary filing the company made with the local bourse.

PMSB, set up in 1996, handles civil engineering, construction, and foundation work which makes up part of the group’s core construction business. The construction business made up 85% of Pintaras Jaya’s revenue for the nine-month ended March 31, 2025.

Pintaras Jaya also counts manufacturing as its core business. 

With this move, PMSB’s paid-up capital increased from RM1 million to RM61 million. The aim is to strengthen PMSB’s finances and remove intercompany debt.

The transaction doesn’t affect Pintaras Jaya’s share capital, shareholders, earnings, net assets, or gearing for the financial year ending June 30, 2025. No shareholder or director is involved in the deal, and it doesn’t require any approval.

Pintaras Jaya reported a net profit of RM21.5 million for the nine-month period ended March 31, 2025, compared with RM150,000 the year before. This was on 29% higher revenue of RM274.7 million for the period.

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