KUALA LUMPUR (Oct 29): Water and wastewater engineering and construction firm Salcon Bhd (KL:SALCON) has exited the moneylending business.

In a bourse filing on Tuesday, Salcon said its wholly-owned subsidiary Kencana Kesuma Sdn Bhd has ceased its moneylending activities on Sept 21 after it decided not to renew its moneylenders' licence.

"Kencana Kesuma is a dormant company. The cessation of Kencana Kesuma’s moneylending business will not have any effect on the share capital and substantial shareholders’ shareholdings of Salcon," it added.

Salcon noted that it is also not expected to have any effect on the group's net assets per share and earnings per share for the financial year ending Dec 31, 2024.

Salcon shares closed down one sen or 3.33% to 29 sen on Tuesday, giving it a market capitalisation of RM295.27 million. The stock has fallen 6.45% so far this year.

Uploaded by Magessan Varatharaja