KTC has achieved an improved current ratio of 123 per cent and gearing ratio of 48 per cent in FY22 as compared to FY16.
KUALA LUMPUR (May 24): Kim Teck Cheong Consolidated Bhd (KTC) has received clearance from the Securities Commission Malaysia to transfer its listing to the Main Market of Bursa Malaysia Securities Berhad.
Listed on the ACE Market in 2015, from a humble revenue and net profit of RM341.2 million and RM2 million respectively for its financial year ended June 30, 2016 (FY16), its revenue and net profit have ballooned to RM705.8 million and RM22.1 million respectively in FY22, giving a respectable growth rate of 207 and 1,105 per cent respectively.
KTC has achieved an improved current ratio of 123 per cent and gearing ratio of 48 per cent in FY22 as compared to FY16. With these, KTC has successfully improved its cash flows by presenting improved net operating cash flow of 68 per cent and net assets of 178 per cent in FY22 as compared to FY16.
KTC has also achieved in improving its trade receivables and inventories turnover days of 266 per cent and 173 per cent respectively.
“We are undoubtedly grateful and would like to humbly express our immense gratitude to the relevant authorities in approving this transfer to the Main Market,” KTC executive director Datuk Dexter Lau said.
“With global economies moving into this post-pandemic era, I believe this transfer is timely where we are more than ready for the next phase of our journey following the leap to the Main Market.
“The transfer will unquestionably improve our corporate profile and reputation whilst being accorded higher recognition amongst institutional investors,” he added.