Integrated circuit maker, JF Technology Berhad has successfully transferred its listing and quotation of the entire issued share capital and the outstanding warrants from the ACE Market to the Main Market of Bursa Malaysia Securities Berhad.
Managing Director of JF Tech, Dato’ Foong Wei Kuong said as a Main Market company, JF tech can attract more institutional funds who do not have the mandate to invest in ACE Market companies.
“Looking ahead, the long-term outlook of the Group continues to be promising. Our key focus remains on the execution of our six growth drivers, which are progressing well. On balance, we believe our transfer to the Main Market and the many implicit benefits that come with it will bring us another step forward in our journey to realize our growth drivers, he added.
For its latest financial ended 30 June 2022, the company’s revenue and net profit rose to an all-time high of RM45.3 million and RM17.2 million driven by solid demand from customers for high-performance test contactors.
On balance sheet strength, the Group remains in a net cash position, with net cash per share of 8.2 sen as at end-September 2022, backed by net assets of 14.1 sen per share.
As for dividend payout, the Group has paid a total dividend of 1.0 sen per share amounting to RM9.3 million in FY22. This represented a 54.1% payout based on a net profit of RM17.2 million