KUALA LUMPUR: ACE Market-listed EXCEL FORCE MSC BHD [] will apply for a transfer to the Main Market of Bursa Malaysia within three months, the company said on Monday, June 14.
Securities Commission (SC) guidelines state that a company may seek a transfer to the Main Market if it meets the profit requirement of three to five full financial years, with an aggregate net profit of at least RM20 million and a profit for the most recent financial year of at least RM6 million.
In a statement on Monday, Excel Force said it had fulfilled those conditions as it had achieved an aggregate net profit of about RM20.98 million over the past five financial years from 2005 to 2009, and an audited consolidated net profit of RM6.15 million in respect of the most recent financial year.
The company had on May 27, 2010 proposed one-for-two bonus issue of 68.92 million shares of 10 sen each. Upon completion, the enlarged paid-up share capital will be RM20.68 million comprising 206.77 million shares. It expects the proposed transfer to be completed in the third quarter of 2010.
Securities Commission (SC) guidelines state that a company may seek a transfer to the Main Market if it meets the profit requirement of three to five full financial years, with an aggregate net profit of at least RM20 million and a profit for the most recent financial year of at least RM6 million.
In a statement on Monday, Excel Force said it had fulfilled those conditions as it had achieved an aggregate net profit of about RM20.98 million over the past five financial years from 2005 to 2009, and an audited consolidated net profit of RM6.15 million in respect of the most recent financial year.
The company had on May 27, 2010 proposed one-for-two bonus issue of 68.92 million shares of 10 sen each. Upon completion, the enlarged paid-up share capital will be RM20.68 million comprising 206.77 million shares. It expects the proposed transfer to be completed in the third quarter of 2010.
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