IFCA MSC Berhad (KLSE:IFCAMSC) commences share repurchases on July 6, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2022. 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 at any point of time. The repurchases will be financed by internal generated funds.

The company may cancel all the shares so purchased, retain the shares so purchased in treasury for distribution as dividend to the shareholders and/ or resell on the market of Bursa Securities or retain part thereof 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. As of March 28, 2022, the company had 608,290,900 issued shares and 1,681,800 treasury shares.