Supercomnet Technologies Bhd receives approval from Bursa Malaysia Securities Berhad for the transfer of Scomnet’s entire issued share capital from the ACE Market to the Main Market of Bursa Malaysia.
The transfer is expected to take place on August 21, 2023. The Group’s Stock Short Name – SCOMNET – and stock code, 0001, will remain unchanged. On the Main Market of Bursa Malaysia, Scomnet will be a constituent of the Health Care Equipment & Services sub-sector, within the Health Care sector.
In April 1999, Scomnet became the first company to be listed on the ACE Market. At the time, the Group’s market capitalisation was RM144.08 million. Scomnet’s market capitalisation has since risen more than sevenfold to RM1.06 billion, as at 3pm on August 17, 2023.
Scomnet’s principal activities are the manufacturing and assembly of medical devices and cables, automotive fuel tanks, as well as wires and cables for electrical appliances, consumer electronics and automotive markets. Within the medical segment, which currently contributes the bulk of Scomnet’s gross profit, the Group’s customers include established multinationals from the U.S. and Europe, as well as new and emerging device manufacturers.
