KUALA LUMPUR – Sabah’s Kim Teck Cheong Consolidated Bhd (KTC) has received clearance from the Securities Commission Malaysia to transfer its listing to the Main Market of Bursa Malaysia Securities Bhd.
KTC was listed on the ACE market in 2015.
In a statement here today, KTC’s revenue and net profit have ballooned to RM705.8 million and RM22 Million respectively for the financial year (FY) 2022.
KTC has achieved an improved current ratio of 123.3% and gearing ratio of 48.1% in FY 2022 as compared to FY 2016.
With these, KTC has successfully improved its cash flows by presenting improved net operating cash flow of 167.5% in FY 2022 compared to FY 2016 and an increase in net assets by 78.1% in FY 2022 compared to FY 2016.
“We are undoubtedly grateful and would like to humbly express our immense gratitude to the relevant authorities SC in approving this transfer to the Main Market.
“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 executive director Datuk Dexter Lau said. –The Vibes, May 24, 2023
