Cable and wire manufacturer Southern Cable Group Berhad received approval from the Securities Commission Malaysia to transfer its listing status to the Main Market of Bursa Securities Malaysia Berhad.
Listed on the ACE Market since October 2020, Southern Cable is a manufacturer of cables and wires used for power distribution and transmission, communications as well as control and instrumentation applications.
The company views the listing as important for visibility reasons among local and foreign investors to participate in its growth potential and prospects.
Southern Cable is sitting comfortably on the potential growth in the sector when 5G is rolled out, including the recovery prompting the resumption of construction and infrastructure and new segment like power and solar.
The Group recently secured a RM30.4 million rectifier systems supply contract from Telekom Malaysia Berhad as part of TM’s expansion in digital connectivity and 5G.
Southern Cable has also supplied cables and wires to major projects such as the Mass Rapid Transit, Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.