Kim Teck Cheong Consolidated Berhad has informed that it had received clearance from Securities Commission Malaysia to transfer its listing to the Main Market of Bursa Malaysia Securities Berhad.
Listed on the ACE Market in 2015, from a humble revenue and net profit of RM341.2 million and RM2 million respectively for its financial year in 2016, 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% are huge improvements in contrast to FY2016’s corresponding ratios. The company has successfully improved its cash flows by presenting an improved net operating cash flow of 167.5% in FY2022 as compared to FY2016 as well as an increase in net assets by 78.1% in FY2022 as compared to FY2016.
Executive director YBhg Datuk Dexter Lau said, “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.
