KUALA LUMPUR (June 25): Pekat Group Bhd (KL:PEKAT), an ACE Market-listed solar player, plans to transfer its listing to the Main Market.

The company said in an exchange filing on Thursday that it has fulfilled requirements for the transfer, including profit track record, financial position and positive net cash from operating activities.

“The proposed transfer is expected to enhance the company’s credibility, prestige and reputation, and accord the company with greater recognition and acceptance among investors, in particular institutional investors, while reflecting the group’s business and profitability growth since its listing on the ACE Market of Bursa Securities,” Pekat said.

Companies seeking a Main Market transfer from the ACE Market require an aggregate net profit of at least RM30 million for the past three financial years, including at least RM15 million for the most recent year.

Pekat recorded an aggregate net profit of RM80.78 million for the financial years ended Dec 31, 2023 (FY2023) to FY2025. Its net profit for FY2025 was RM45.05 million.

The company said it also met the healthy financial position requirement, with no accumulated losses and retained earnings of RM153.91 million as at end-December 2025.

Net cash flow was also positive in the past three years, with sufficient working capital for at least 12 months.

Pekat also maintained cash and bank balances of RM87.62 million and unutilised banking facilities of up to RM172.77 million as at end-December 2025.

The proposed transfer is subject to approval from the Securities Commission Malaysia and Bursa Securities, and is expected to be completed by the fourth quarter of this year.

Public Investment Bank Bhd is the principal adviser for the exercise.

Pekat listed on the ACE Market five years ago, in June 2021.

Its shares ended six sen or 3.66% lower at RM1.58 on Thursday, valuing the company at RM1.12 billion.