Shareholders of loss-making diversified group Capital Asia have voted through a motion to reduce its issued share capital, eliminating an estimated $500 million accumulated loss, according to executive director Wong Chi-fai. The capital reduction was part of efforts to get the company back on track, he said. These efforts included shutting down any loss-making divisions such as its eel-farming operation in the mainland. Mr Wong, also joint managing director of Emperor International Holdings, said Emperor might raise its existing 25 per cent stake in Capital Asia. 'The stake represents a long-term investment,' he said after the company's extraordinary general meeting yesterday. He said Emperor was the single-largest shareholder of Capital Asia.