PETALING JAYA: SMRT Holdings Bhd
has announced a proposed transfer from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd.
In a filing with the local bourse, the information technology solutions provider said it has met the profit requirements for the proposed transfer prescribed under the Equity Guidelines, having achieved an aggregate after-tax profit of at least RM20mil for the past three full financial years and after-tax profit for the most recent financial year of at least RM6mil.
“The proposed transfer signifies the growth, profitability and financial strength of SMRT Group as it has met the profit track record requirements for a transfer to the Main Market of Bursa Securities.
“The board believes that the proposed transfer will enhance the company's credibility, prestige and reputation, and accord it with greater recognition and acceptance amongst investors, including institutional investors while reflecting SMRT Group's current scale of operations.”
SMRT said this will in turn enhance the attractiveness and marketability of its shares.
“Further, the proposed transfer is also expected to enhance the confidence of its business partners, employees and shareholders through its profile as a company listed on the Main Market of Bursa Securities.”
