KUALA LUMPUR: Kim Teck Cheong Consolidated Berhad (KTC) has received clearance from Securities Commission Malaysia to transfer its listing to the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities).
Listed on the ACE Market in 2015, from a humble 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 have ballooned to RM705.8 million and RM22.1 million respectively in FY2022, giving respectable growth rates of 106.9% and 1,005.0% respectively.
KTC’s 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 has successfully improved its cash flows by presenting improved net operating cash flow of 167.5% in FY2022 as compared to FY2016 as well as increase in net assets by 78.1% in FY2022 as compared to FY2016.
KTC executive director Datuk Dexter Lau said, “We are undoubtedly grateful and would like to humbly express our immense gratitude to Securities Commission in approving this transfer to the Main Market. With global economies moving into this post-pandemic era, I believe this transfer is timely where we are more than ready for the next phase of our journey following the leap to the Main Market. The transfer will unquestionably
improve our corporate profile and reputation whilst being accorded higher recognition amongst institutional investors.”
KTC’s proposed transfer to the Main Market is subject to further approval from Bursa Securities.
