KUALA LUMPUR (Oct 8): Lim Seong Hai Capital Bhd (KL:LSH) opened higher in its first day on the Main Market following the construction firm’s transfer from ACE Market.
The stock opened at RM1.78, up three sen or 1.71% from Wednesday's closing price of RM1.75. Lim Seong Hai Capital was still at RM1.78 at 9.15am though trading volume remained thin.
The company transferred to the ACE Market in March 2025 from the LEAP Market where it was listed in July 2021.
Unlike a conventional initial public offering, the latest transfer does not involve a new share offering, with the company's existing shares moving to the Main Market.
The move follows approval from the Securities Commission Malaysia on Oct 2 through an accelerated transfer process, after the group met the necessary financial and listing requirements.
Lim Seong Hai Capital recorded a combined profit after tax of RM238.52 million over its three most recent financial years, including RM102.08 million in the latest year.
The minimum requirement was for RM30 million in cumulative profit over three years, including at least RM15 million in the latest year.
The company also met the market capitalisation requirement, having maintained a value of more than RM1 billion since September 2025.
Lim Seong Hai Capital previously said the transfer would strengthen its corporate profile and better reflect the group's business scale, financial position and track record.
The company's stock short name LSH and stock code 0351 remain unchanged following the transfer.