KUALA LUMPUR (Jan 7): LGMS Bhd (KL:LGMS) said the company has secured regulatory approval to transfer its listing to the Main Market, three and a half years after debuting on the ACE Market.

The Securities Commission Malaysia (SC) informed the company of the approval through a letter on Wednesday (Jan 7), said the cybersecurity assessor and consultant in an exchange filing.

LGMS said the SC noted that the company had complied with the Bumiputera equity requirement for public-listed companies.

LGMS shares have been trending lower since July 2024, when they peaked at RM1.80. The stock last traded at 55.5 sen, giving the company a market capitalisation of RM250.8 million.

Despite the decline from its peak, LGMS shares remain above their listing price of 50 sen on June 8, 2022, representing a gain of 11% over the three-and-a-half-year period. Including dividends, total shareholder return over the period is approximately 18.8%.

LGMS executive chairman Fong Choong Fook holds a 36.58% stake in the company with his wife Goh Soon Sei controlling another 10.8%. Japanese conglomerate Mitsui & Co Ltd, meanwhile, owns 25% of the company.

For the nine months ended Sept 30, 2025, LGMS reported a 23.2% drop in net profit to RM6.35 million from RM8.27 million a year earlier, as operating expenses rose. Total revenue was largely unchanged at RM30.27 million, but staff costs climbed 24% to RM15.88 million from RM12.79 million previously, weighing on profitability.