Master Tec proposes transfer to Main Market of Bursa Malaysia
The cable manufacturer also proposed relevant amendments to the company's constitution to support the transfer, reflecting its commitment to meeting the higher regulatory requirements of the Main Market.
'This proposed Main Market transfer is a testament to the strength and resilience of our business. Since our listing, we have achieved several operational milestones, expanded our manufacturing capacity, and diversified our revenue streams through the integration of infrastructure-related services.
'The move to the Main Market marks the next chapter of our corporate journey, aligning with our long-term strategy to enhance visibility, broaden our investor base, and access more robust capital markets,' executive director Tee Kok Hwa said in a statement.
The proposed transfer comes less than two years after Master Tec made its debut on the ACE Market in January 2024.
Based on the audited financial results for the financial year ended Dec 31, 2024 (FY24), Master Tec recorded a consolidated profit after tax attributable to owners of the company (Patami) of RM27.01mil.
Over the last three financial years, from FY22 to FY24, the group achieved a cumulative adjusted Patami of RM73.3mil, exceeding the RM20mil minimum threshold required under the profit test of the Securities Commission's Equity Guidelines.'
Master Tec noted its strong financial health, reporting a current ratio of 1.81 times, a gearing ratio of 0.35 times, and retained earnings of RM93.8mil as of Dec 31, 2024.
The group also noted positive net operating cash flows of RM29.88mil in FY24, underscoring its solid liquidity and financial stability.
Master Tec's share price closed at RM1.06 on Friday, giving it a market capitalisation of RM1.08bil.
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