HE Group Bhd has announced plans to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd, signalling its growing financial strength and operational maturity.
The proposed transfer will be executed via its principal advisor, Alliance Islamic Bank Bhd, and marks a major milestone since HE Group’s ACE Market debut on Jan 30, 2024.
As of May 15, 2025, HE Group has an issued share capital of RM38.99 million comprising 440 million shares, and meets the profit and financial requirements under the Securities Commission Malaysia’s Equity Guidelines. The group recorded an adjusted profit after tax (PAT) of RM16.22 million in FY24 and a three-year adjusted PAT of RM33.06 million.
Financially robust, HE Group reported RM57.74 million in cash, minimal borrowings of RM3.07 million and a current ratio of 2.24 times as of end-2024. It also maintains positive operating cash flows and no accumulated losses, meeting all regulatory conditions for the transfer.
The group has also satisfied public shareholding and Bumiputera equity requirements, with over 56% of shares held by 2,423 public shareholders and recognition by the Investment, Trade and Industry Ministry of its Bumiputera participation.
HE Group believes the move will enhance its credibility and visibility among investors, improve share marketability and boost stakeholder confidence.
The transfer will have no impact on its capital structure or earnings.
Subject to regulatory approvals, the transfer is expected to be completed by the second half of 2025.
