KUALA LUMPUR (Oct 2): The Securities Commission Malaysia (SC) has approved construction firm Lim Seong Hai Capital Bhd’s (KL:LSH) transfer of its listing to the Main Market from the ACE Market.
The slated transfer to the Main Market comes a year and a half after LSH transferred to the ACE Market from the LEAP Market in March 2025. It was listed on the LEAP Market in July 2021.
The capital market regulator approved the proposed transfer of listing via the accelerated transfer process in a letter on Friday, which also approved LSH’s transfer of listing under the construction sector, the group said in a bourse filing.
“The proposed transfer of listing will take effect immediately two clear market days after the announcement to Bursa Securities on the transfer date via Bursa LINK,” it noted.
The SC also noted that LSH complied with Bumiputera equity requirements pursuant to its listing on the ACE Market, the group added.
LSH proposed the transfer of its listing to the Main Market in July this year.
The move is expected to enhance the group’s corporate profile and better align its listing status with its current scale of operations, financial position and track record, it said at the time.
It made the proposal as it met the requirements for the transfer as set out in equity guidelines issued by the SC and the Main Market listing requirements of Bursa Malaysia.
The group achieved an aggregate profit after tax (PAT) of RM238.52 million for the most recent three financial years, including RM102.08 million for the latest year — above the required aggregate three-year PAT of at least RM30 million, including at least RM15 million for the latest year.
Its financial position was also healthy, with current assets and liabilities totalling RM645.42 million and RM179.92 million respectively. It also met the six-month daily market capitalisation requirement with its market capitalisation consistently exceeding the minimum RM1 billion since September 2025.
At Friday's noon break, shares of LSH were up three sen or 1.86% at RM1.64, valuing the company at RM1.37 billion.