Genting Malaysia Berhad (KLSE:GENM) commences share repurchases on January 22, 2018, under the program mandated by the shareholders in the Annual General Meeting held on May 31, 2017. 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 purpose of the program is to stabilize the supply and demand of the company’s shares traded on the main market of Bursa Securities and thereby support its fundamental value. 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 any combination of above. 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 share repurchase program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the directors of the company.