Latest news with #MainMarketofBursaMalaysia
The Star
7 days ago
- Business
- The Star
Reach Ten declares maiden dividend of 1c per share
Reach Ten managing director Leo Chin KUALA LUMPUR: Reach Ten Holdings Bhd - which was listed on the Main Market of Bursa Malaysia on May 2, 2025 - has announced its first interim dividend of one sen per share, along with its financial results for the first quarter ended March 31, 2025. According to to statement by the group, the post-listing dividend is in line with its dividend policy to distribute up to 30% of its net profit. During the first quarter, the Sarawak-based telecommunications service provider said it recorded a net profit of RM7.12mil on the back of revenue of RM23.05mil, which translates to an earnings per share of 0.89 sen. The reported results cover only two months - February and March 2025 - following the completion of the merger of its subsidiaries on Feb 5, 2025, which is in accordance with Malaysian Financial Reporting Standards. "As such, the revenue and profit solely represent the post-acquisition performance of the consolidated entities," it said in a statement. On a full-quarter basis, revenue and net profit would have been RM28.4mil and RM8.2 mil, respectively, said the group. There are no comparative figures for the corresponding preceding quarter's results as this is only the second interim financial report being announced by the company in compliance with the listing requirements. According to the group, revenue for the quarter was mainly driven by its satellite-based communication networks and services segment, which contributed 63.2% of total revenue. Fibre optic communication networks and services accounted for 21.4%, while telecommunications infrastructure and managed services contributed 15.4%. "We remain confident in the group's growth trajectory, driven by rising demand for digital connectivity, supportive government policies, and ongoing infrastructure expansion. Managing director Leo Chin said the group remains optimistic about its business outlook, supported by positive structural trends in Malaysia's telecommunications sector. "Our strategic focus on underserved markets, particularly in Sarawak, positions us well to capture emerging opportunities and deliver long-term value to our shareholders," he said.
New Straits Times
22-04-2025
- Business
- New Straits Times
Reach Ten IPO oversubscribed 1.85 times ahead of May 2 debut
KUALA LUMPUR: Reach Ten Holdings Bhd's initial public offering (IPO) shares have been oversubscribed by 1.85 times ahead of its listing on the Main Market of Bursa Malaysia next month. The Sarawak-based telecommunications service provider received 2,706 applications for 142.65 million new shares from the Malaysian public, over the 50 million new shares made available for public subscription. The company also received 945 applications for 52.79 million shares, representing an oversubscription of 1.11 times for the Bumiputera portion, while non-Bumiputera portion saw an oversubscription rate of 2.59 times or 1,761 applications for 89.86 million new shares. Meanwhile, shares allocated to eligible persons were fully subscribed, while those offered via private placement were fully placed out. Reach Ten managing director Leo Chin said the company is on track to expand its telecommunications infrastructure in Sarawak with the IPO funds in place. "The proceeds will enable us to further accelerate our expansion plans to establish and expand our fibre optic communication networks infrastructure as well as to construct an additional 100 4G or 5G telecommunication towers in Sarawak to support the state government initiatives to widen internet coverage and connectivity to rural areas," he said.
