KUALA LUMPUR (March 5): EPB Group Bhd (KL:EPB), which debuted on the ACE Market in August 2024, has proposed to transfer its listing to the Main Market of Bursa Malaysia.

In a bourse filing on Thursday, EPB said the move would enhance the company’s credibility, while increasing recognition among investors, particularly institutional funds, in line with its growing scale of operations.

EPB is primarily engaged in designing, customising, fabricating, integrating and automating production lines for food manufacturing and processing companies.

The company is also involved in the trading of cellulose casings, as well as the manufacturing and trading of flexible packaging materials.

EPB made its debut on the ACE Market on Aug 23, 2024, with an initial public offering price of 56 sen. As at Feb 23 this year, EPB had an issued share capital of RM68.9 million.

According to the company, it has met the requirements for the proposed transfer as set out in the equity guidelines issued by Securities Commission Malaysia and the Main Market Listing Requirements of Bursa Securities.

EPB recorded an audited net profit of RM9.79 million for the financial year ended Dec 31, 2024 (FY2024). Cumulatively, the company achieved a net profit of RM36.33 million from FY2022 to FY2024.

As at Dec 31, 2024, EPB’s current assets stood at RM118.35 million against current liabilities of RM27.56 million, translating into a current ratio of 4.29 times, according to the company’s filing.

The company also held cash and bank balances of RM42.7 million, along with RM29.44 million in fixed deposits with banks.

The transfer, which is subject to approval from the Securities Commission and Bursa Malaysia Securities, is expected to be completed in the third quarter of 2026.

At Thursday’s close, EPB shares were unchanged at 34 sen, giving the company a market capitalisation of RM126.5 million.