KUALA LUMPUR: Lim Seong Hai Capital Bhd is eyeing Main Market transfer amid steady profit growth, said chairman Tan Sri Lim Keng Cheng.
Lim believes the company’s fundamentals are strong enough for the Main Market.
“If you ask me, I would’ve wanted to be listed on the Main Market yesterday. It all depends on the authorities. The moment we’re qualified, we will submit. Based on our performance, I believe we meet the aggregate requirements, but of course, the final decision rests with Bursa,” he told the media after its transfer listing to the LEAP Market on Friday.
Lim said that just like its earlier transfer from the LEAP Market to the ACE Market, the company will go through the necessary steps in due time.
“The moment we are qualified, we will submit.
“We hope we can qualify very soon.
“But I think based on the results show, I think the aggregate number, we are qualified for the main board,” he added.
The construction firm raised RM168.08 million as part of its transfer from the LEAP Market from the ACE Market.
At the opening bell, Lim Seong Hai Capital’s shares opened with a share price of 73 sen, with an opening volume of 2,810,300 shares.
The opening price marks a 17% discount to the Public Offering price of 88 sen.
On the debut performance of Lim Seong Hai Capital, Lim said: “Every challenge is a marathon, not a sprint, and while market reactions may fluctuate in the short term, LSH Capital remains confident in its long-term prospects.
“Our strong fundamentals, demonstrated by securing the 20-year KL Tower concession and achieving a 19% year-on-year earnings growth, reinforce our ability to execute and deliver value.”
He said while market sentiment may vary, it is confident that the strategic achievements and consistent performance will ultimately drive sustained growth and value creation.
Lim Seong Hai Capital said it is well-positioned in the construction and property development industries, with active plans to continue build up the tender book and orderbook.
Lim Seong Hai Capital currently has an order book of RM1.52 billion and a tender book exceeding RM10 billion.
However, Lim noted that tender value alone holds little weight without actual wins.
The company has recently entered into facilities management segment, after securing a 20-year concession contract to exclusively operate, manage and maintain the Kuala Lumpur Tower.
The new segment will provide LSH Capital with a steady and recurring income.
The company is also exploring potential infrastructure construction and concession ownership opportunities to strengthen its business growth.
