Kim Teck Cheong gets SC nod for Main Market transfer

PETALING JAYA: Kim Teck Cheong Consolidated Bhd (KTC) has received clearance from the Securities Commission to transfer its listing to the Main Market of Bursa Malaysia.

The group, which was listed on the ACE Market in 2015, is engaged in the distribution and warehousing services of third-party consumer packaged goods in Sabah and Sarawak.

With global economies moving into this post-pandemic era, KTC executive director Datuk Dexter Lau said the transfer was timely where the group is more than ready for the next phase of its 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,” he said in a statement.

From a humble revenue and net profit of RM341.2mil and RM2mil, respectively, for its financial year ended June 30, 2016 (FY16), its revenue and net profit had grown to RM705.8mil and RM22.1mil, respectively, in FY22.

The company said its current ratio of 123.3% and gearing ratio of 48.1% (as at end-FY22) are huge improvements in contrast to FY16’s corresponding ratios.

KTC’s proposed transfer to the Main Market is subject to further approval from Bursa Securities.

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