KUALA LUMPUR: Palm oil milling systems company Dolphin International Bhd has aborted a six-month plan for a proposed rights issue to raise up to RM13.4 million for working capital.

It first announced the proposal for a renounceable rights issue with detachable warrants in October 2023.

In a fiing with Bursa Malaysia Securities yesterday, the company said it intends to explore other more expeditious manner to raise funds for its working capital.

No reason was given for the decision.

Dolphin has withdrawn the listing application to Bursa Securities for the proposed rights Issue.

Dolphin's share price closed at 22.5 sen a share yesterday, giving it a market capitalisation of RM30.1 million.