Melati Ehsan Holdings Berhad (KLSE:MELATI) commences share repurchases on March 10, 2023, under the program mandated by the shareholders in the Annual General Meeting held on February 23, 2023. 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 and paid-up share capital. The company will finance repurchases from internally generated funds which shall not exceed the aggregate of the retained profits and share premium account of the company and/or from external borrowings.

The company will cancel the repurchased shares or retain them in treasury for distribution as dividends to the shareholders and/or for re-sale on Bursa Securities in accordance with the listing requirements and/or subsequently cancelled, or retain part of the purchased shares 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.