OpenSys gets SC’s nod

KUALA LUMPUR: Opensys (M) Bhd has obtained approval from the Securities Commission (SC) for the transfer of its listing from the ACE Market to the Main Market of Bursa Malaysia.

The proposed transfer is subject to further approvals from Bursa Malaysia and an EGM on a date to be determined.

The information technology solutions firm, which was listed on Mesdaq (now ACE Market) on Jan 29, 2004, said in a statement that it had fulfilled the requirement of the SC by achieving the minimum cumulative net profit of RM20mil in the past three years, despite the impact of the Covid-19 pandemic and movement control orders.

For the financial years ended Dec 31, 2019, to 2021, OpenSys’ dividend payout ratio represented 37% to 40% of net profit.

OpenSys chief executive officer Eric Lim said the company would continue to maintain its existing segment of implementing crucial services for financial services, telecommunications and utilities providers.