KUALA LUMPUR (Aug 24): Bathroom and kitchenware distributor Sorento Capital Bhd (KL:SORENTO) will transfer its listing to the Main Market of Bursa Malaysia this Friday, less than two years after making its debut on the ACE Market.
The transfer will take effect at 9am on Aug 28, with Sorento Capital remaining under the Consumer Products & Services sector, Bursa Malaysia said in a statement on Monday.
Its stock short name "SORENTO" and stock number "0326" will also remain unchanged following the transfer.
Sorento Capital, which was listed on the ACE Market in October 2024, first proposed the transfer in March this year, saying it had met the Main Market's requirements on profit track record, financial position and positive net cash flow from operating activities.
The Securities Commission Malaysia (SC) then approved the proposed transfer last month.
At the time of its application, Sorento Capital had recorded aggregate net profit of RM75.6 million for the three financial years through FY2025, well above the RM20 million minimum required for a transfer to the Main Market.
Its FY2025 net profit stood at RM26.24 million, compared with the minimum RM6 million required for the latest financial year.
The company had also said it had no accumulated losses and retained earnings of RM87.29 million as at June 30, 2025, while recording positive net cash flow over the preceding three years.
Sorento Capital distributes bathroom and kitchenware, including sanitary wares, bathroom accessories, kitchen sinks and related products.
Its shares closed unchanged at 64.5 sen on Monday, with a market capitalisation of RM554.7 million.