KUALA LUMPUR (July 17): The Securities Commission Malaysia (SC) has approved Sorento Capital Bhd’s (KL:SORENTO) proposed transfer of its listing from the ACE Market to the Main Market.
In a bourse filing on Friday, Sorento Capital said the SC gave its approval in a letter dated July 16.
The company, which has been listed on the ACE Market since October 2024, had applied for a transfer to the Main Market in March this year.
“We have demonstrated revenue scale, profitability consistency and balance sheet strength," managing director Loo Chai Lai had said in an interview with the Edge Malaysia weekly (March 30- April 5, 2026 edition).
"We believe the business has reached a level of maturity appropriate for Main Market positioning,” he said, adding that it would enhance institutional visibility and broaden investor participation.
In its filing, Sorento Capital noted that as of July 13 (the latest practicable date before its proposal was approved), the company's share capital was RM97.77 million, comprising 860 million shares.
It added that as of Friday, Sorento Capital’s public shareholding spread stood at 26.12% of its total issued share capital.
Sorento Capital is an investment holdings company while its subsidiaries trade in bathroom and kitchen wares.
Sorento Capital holds five wholly-owned subsidiaries: Sorento Sdn Bhd, Beyond Bath Sdn Bhd, Nautical Sanitaryware Sdn Bhd, Ideal Bath Sdn Bhd and Mocha Sdn Bhd.
Its revenue grew from RM66 million in the financial year ended June 30, 2021 (FY2021) to RM180 million in FY2025, while net profit jumped from RM7.78 million to RM26.24 million.
Sorento Capital’s shares closed at 65.25 sen on Friday, valuing the company at RM561.15 million.