LGMS seeks to transfer listing to Main Market
The cybersecurity services provider, which has a market capitalisation of around RM66mil, said it has met the requirements of the profit test pursuant to Paragraph 5.02(a) of Bursa's Equity Guidelines.
"LGMS Group has achieved an audited consolidated net profits of approximately RM12.34mil for the most recent financial year ended Dec 31, and an aggregate consolidated net profit of approximately RM35.11mil for the past three audited financial years from 2022 to 2024," it said in a statement to Bursa Malaysia.
The guidelines by Bursa requires the group to achieve an aggregate audited net profit of at least RM20mil for three to five full financial years and a net profit for the most recent financial year of at least RM6mil, it said.
"The proposed transfer signifies the growth, profitability and financial strength of the group as it has met the profit track record requirements for a transfer to the Main Market of Bursa Malaysia," LGMS said.
The transfer is expected to be completed by the fourth quarter of 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
an hour ago
- New Straits Times
Puncak Niaga subsidiary to dispose of three loss-making units for RM3
KUALA LUMPUR: Puncak Niaga Holdings Bhd's wholly-owned subsidiary, TRIplc Bhd, is disposing of 100 per cent stake each in three dormant and loss-making units for a total cash consideration of RM3 as part of efforts to streamline its corporate structure and reduce costs. The three companies involved in the proposed disposal are Layar Kekal (M) Sdn Bhd, Samasys Sdn Bhd and Tirai Gemilang Sdn Bhd, each to be sold for RM1, Puncak Niaga said in a filing to Bursa Malaysia today. Puncak Niaga said the three entities have been inactive and have incurred losses since its acquisition of TRIplc Bhd on May 31, 2018, for RM210 million, while the total cost of investment in the three companies was RM150 million. "The board is of the opinion that the cash consideration of RM1 on each company is reasonable, as it enables the group to streamline its structure and achieve cost savings on annual statutory fees," it said. According to the latest audited financial statements for the financial year ended Dec 31, 2024, Layar Kekal, Samasys and Tirai Gemilang recorded net losses of RM5.38 million, RM5.11 million and RM5.30 million respectively and all three companies had net liabilities of RM3,400 each. Puncak Niaga also clarified that the announcement of the disposal was delayed because the company only received the duly stamped share sale agreements in the late evening of July 30, 2025. "As the stamping of the agreements is essential to formalise the transaction, the company proceeded to make the announcement on the next market day -- July 31, 2025. "The short delay also required to complete internal verification and ensure compliance with Bursa Malaysia's disclosure requirements under the Main Market Listing Requirements," it added. Puncak Niaga also disclosed that all three companies share the same set of directors, namely Tan Sri Rozali Ismail, Taufik Afendy Othman, Azlan Shah Rozali, Faridatulzakiah Mohd Bakhry, and Mohammad Shahree Shamsuddin. Copies of the audited financial statements for the financial year ended Dec 31, 2024, and May 31, 2018, are available for inspection at Puncak Niaga's registered office in Shah Alam for a period of three months from the date of this announcement.
The Star
2 hours ago
- The Star
Ramssol reports higher 2Q25 earnings
PETALING JAYA: Ramssol Group Bhd expects a corresponding growth in recurring revenue from professional information technology services, as project-based revenue expands. As the digital industry continues to grow and evolve, the company said in a Bursa Malaysia filing that it is well-positioned to take advantage of this growth. It added that it will focus on the digital industry value chain positions to potentially benefit with new projects secures in the local market and Asian region on its diversified products in human capital management solutions, Cloud AI solutions, used-bike selling platform, e-learning and interactive platform and digital media services specialising in corporate and commercial videos. For the second quarter ended June 30, 2025, Ramssol's net profit rose to RM5.72mil from RM4.35mil in the previous corresponding period, mainly due to certain projects with higher profit margin and the distributorship of human capital management license. Revenue in the second quarter grew to RM24.93mil from RM17.31mil a year earlier. For the six-month period ended June 30, 2025, Ramssol's net profit rose to RM11.56mil from RM8.53mil in the previous corresponding period, while revenue improved to RM43.05mil from RM31.73mil a year earlier
Free Malaysia Today
2 hours ago
- Free Malaysia Today
Puncak Niaga's subsidiary to dispose of 3 loss-making units for RM3
Puncak Niaga said the three entities have been inactive and incurred losses since their acquisition by TRIplc Bhd in 2018 for RM210 million. (Facebook pic) PETALING JAYA : Puncak Niaga Holdings Bhd's wholly-owned subsidiary, TRIplc Bhd, is disposing of its 100% stake in each of three dormant and loss-making units for a total cash consideration of RM3, as part of efforts to streamline its corporate structure and reduce costs. The three companies involved in the proposed disposal are Layar Kekal (M) Sdn Bhd, Samasys Sdn Bhd and Tirai Gemilang Sdn Bhd, each to be sold for RM1, Puncak Niaga said in a filing with Bursa Malaysia today. Puncak Niaga said the three entities have been inactive and incurred losses since their acquisition by TRIplc on May 31, 2018, for RM210 million, while the total cost of investment in the three companies was RM150 million. 'The board was of the opinion that the cash consideration of RM1 on each company is reasonable, as it enables the group to streamline its structure and achieve cost savings on annual statutory fees,' it said. According to the latest audited financial statements for the financial year ended Dec 31, 2024, Layar Kekal, Samasys and Tirai Gemilang recorded net losses of RM5.38 million, RM5.11 million and RM5.30 million respectively and all three companies had net liabilities of RM3,400 each. Puncak Niaga also clarified that the announcement of the disposal was delayed because the company only received the duly stamped share sale agreements in the late evening of July 30, 2025. 'As the stamping of the agreements is essential to formalise the transaction, the company proceeded to make the announcement on the next market day – July 31, 2025. 'The short delay was also required to complete internal verification and ensure compliance with Bursa's disclosure requirements under the Main Market Listing Requirements,' it added. Puncak Niaga also disclosed that all three companies share the same set of directors, namely Rozali Ismail, Taufik Afendy Othman, Azlan Shah Rozali, Faridatulzakiah Bakhry, and Shahree Shamsuddin. Copies of the audited financial statements for the financial year ended Dec 31, 2024, and May 31, 2018, are available for inspection at Puncak Niaga's registered office in Shah Alam for a period of three months from the date of this announcement.
