Farm Price managing director Dr Lawrence Tiong Lee Chian
PETALING JAYA: Farm Price Holdings Bhd has proposed the transfer of the listing and quotation of its entire issued share capital and warrants from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd.
In a filing with Bursa Malaysia, the Johor-based wholesaler and distributor of fresh vegetables, food and beverage products and other groceries said it has met the requirements for the proposed transfer as set out in the Securities Commission Malaysia Equity Guidelines.
“In terms of profit requirements, the group recorded an aggregate profit after tax attributable to owners of the company of RM23.8mil for the past three financial years ending Dec 31, 2022 (FY22) to 2024, with a net profit of RM10.3mil for FY24.
“This surpasses the minimum requirement of RM20mil in aggregate net profit, as well as a net profit of RM6mil for the latest financial year.”
On financial position strength, Farm Price recorded current assets and current liabilities of RM51.8mil and RM12.1mil respectively, representing a current ratio of 4.27 times.
“The Group has cash and cash equivalents of RM29.6 million, while total borrowings amounted to RM10.9mil as at FY24, resulting in a healthy gearing ratio 0.18 times.
“In addition, the group recorded positive net cash from operating activities for the past three financial years and has no accumulated losses.”
Farm Price said it has also met the public shareholding spread requirement and complied with the Bumiputera equity requirement for public listed companies.
Farm Price managing director Dr Lawrence Tiong Lee Chian said the proposed transfer represented more than a market shift, reflecting the group’s progress, operating discipline and readiness for its next phase of growth.
He added that the transfer was expected to enhance Farm Price’s credibility and standing, broaden recognition among a wider pool of investors and reinforce confidence in its long-term prospects, while fostering continued trust among customers, suppliers, business associates and employees as the group scales its operations.
“Forging ahead, Farm Price’s outlook remains positive as we continue to deepen presence in key markets across Malaysia and Singapore while strengthening our distribution capabilities. Notably, the expansion of the Centralised Distribution Centre in Senai has been completed, with commissioning expected in the first quarter of 2026.
“Once operational, the expanded facility is expected to enhance Farm Price’s value-added service offerings, increase handling capacity and support greater operational efficiency.”
