KUALA LUMPUR (Aug 19): YX Precious Metals Bhd (KL:YXPM), a gold jewellery manufacturer and 70%-owned subsidiary of Tomei Consolidated Bhd (KL:TOMEI), said on Monday that it had secured approval from Bursa Securities to transfer its listing from the ACE Market to the Main Market.
The transfer will take place on Thursday, Aug 22.
Its stock short name, stock code and International Securities Identification Number or ISIN code will remain unchanged.
YX Precious Metals managing director Ng Sheau Chyn said in a press statement that the company’s transition to the Main Market will enhance its profile and provide greater opportunities for growth and innovation in the gold jewellery sector.
“"We are thrilled to achieve this milestone, which highlights our dedication to excellence and our commitment to delivering value to our stakeholders,” Ng said.
The company, which was listed on the ACE Market in June 2022, first proposed this transfer on April 19.
YX Precious Metals, through its subsidiaries, is principally involved in wholesaling, design and manufacturing of gold jewellery.
It also offers other related products and services, including the sale of scrap and pure gold bars, manufacture of silver chains, and provision of refining services for precious metals.
For the financial year ended Dec 31, 2023 (FY2023), the group reported a net profit of RM9.01 million, with revenue reaching RM239.8 million. As of the end of December 2023, YX Precious Metals' current assets totalled RM104.26 million, while its current liabilities amounted to RM3.26 million.
The company also had cash and bank balances of RM18.34 million, unutilised banking facilities of up to RM25 million, and borrowings of approximately RM230,000.
Shares in YX Precious Metals last changed hands on Monday at 27.5 sen a share, valuing the company at RM102.34 million.