Perak Transit wants to transfer listing to Main Market

PETALING JAYA: Perak Transit Bhd proposes to transfer from the ACE Market to Main Market of Bursa Malaysia after slightly more than a year since its listing in October 2016.
The group told Bursa Malaysia it has met the requirements of the Securities Commission Equity Guidelines based on its audited financial statements with an aggregate net profit of at least RM20 million for the past three full financial years and a net profit of at least RM6 million for the most recent financial year.
Perak Transit said the proposed transfer will enhance its credibility and reputation, and accord it greater recognition among the investors.
Meanwhile, Perak Transit also announced its latest fouth-quarter financial results ended Dec 31, 2017. Its net profit soared 7% from RM7.83 million to RM8.37 million, driven by higher contribution from all its business segments.
This brought its full-year net profit up 33.7% from RM21.57 million to RM28.83 million.
Perak Transit’s share price gained 1.7% to close at 30.5 sen today on some 7.12 million shares done.