KUALA LUMPUR (May 24): Kim Teck Cheong Consolidated Bhd (KTC) has received clearance from Securities Commission Malaysia to transfer its listing to the Main Market of Bursa Malaysia Securities Bhd.
KTC was listed on the ACE Market in 2015, and booked a revenue and net profit of RM341.2 million and RM2.0 million respectively for its financial year ended June 30, 2016 (FY2016).
Its revenue and net profit ballooned to RM705.8 million and RM22.1 million respectively in FY2022, giving respectable growth rates of 106.9% and 1,005.0% respectively.
In a statement on Wednesday (May 24), KTC said its current ratio of 123.3% and gearing ratio of 48.1% (as at end FY2022) are huge improvements in contrast to FY2016’s corresponding ratios.
KTC said it has successfully improved its cash flows by presenting an improved net operating cash flow of 167.5% in FY2022, as compared to FY2016; as well as an increase in net assets by 78.1% in FY2022, as compared to FY2016.
KTC executive director Datuk Dexter Lau said with global economies moving into this post-pandemic era, the transfer is timely.
“The transfer will unquestionably improve our corporate profile and reputation, while being accorded higher recognition among institutional investors.”
KTC’s proposed transfer to the Main Market is subject to further approval from Bursa Securities.
At midday break on Wednesday, KTC rose 4.17% or one sen to 25 sen, with 1.86 million shares traded.
Source: TheEdge - 25 May 2023
Chart | Stock Name | Last | Change | Volume |
---|
Created by edgeinvest | Mar 28, 2024
Created by edgeinvest | Mar 28, 2024
Created by edgeinvest | Mar 28, 2024
Created by edgeinvest | Mar 28, 2024
Created by edgeinvest | Mar 28, 2024
Created by edgeinvest | Mar 28, 2024
Created by edgeinvest | Mar 28, 2024