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.
In a filing with Bursa, the Johor-based wholesaler and distributor of fresh vegetables, food and beverage products and other groceries said it had met the requirements for the proposed transfer as set out in the Securities Commission 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 ended 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 – this represents a current ratio of 4.27 times.
“The group has cash and cash equivalents of RM29.6mil, while total borrowings amounted to RM10.9mil as of 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 had also met the public shareholding spread requirement and complied with the bumiputra equity requirement for public listed companies.
