Oceancash Pacific proposes transfer to Main Market

PETALING JAYA: Felt manufacturer Oceancash Pacific Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia Securities.
Oceancash and its subsidiaries have met the requirements for the transfer of its listing to the Main Market based on audited consolidated financial statements with an aggregate net profit of at least RM20 million for the past three to five full financial years; and net profit for the most recent financial year of at least RM6 million.
It said the proposed transfer is undertaken to reflect the existing scale of the group’s operations and is expected improve the liquidity and marketability of its shares. The proposed transfer listing is to be completed by the second quarter of 2018.