KUALA LUMPUR (May 26): Optimax Holdings Bhd plans to transfer its listing status to the Main Market of Bursa Malaysia from the ACE Market by the fourth quarter of this year (4Q 2022).

In a statement, the company said it has met the requirements for the transfer of its listing as set out in the equity guidelines issued by the Securities Commission Malaysia and the Main Market Listing Requirements (MMLR) of Bursa Securities.

It also met the profit requirement with an aggregate after-tax profit of at least RM20 million for the past three to five full financial years and an after-tax profit for the most recent financial year of at least RM6 million.

It also stated that the company is in a solid financial position and has liquidity with no accumulated losses, current assets and current liabilities of RM33.52 million and RM13.97 million respectively, representing a current ratio of 2.4 times as well as cash and bank balances of RM19.61 million as at Dec 31, 2021.

“We believe that the transfer from the Main Market of Bursa from ACE Market will enhance the company’s credibility, prestige, and reputation as well as accord the company with greater recognition and support amongst investors and all stakeholders while reflecting Optimax’s current scale of operations. This in turn is expected to improve the liquidity and marketability of Optimax shares.” said Sandy Tan, CEO of Optimax.

“We have also proposed the adoption of a new constitution of Optimax as we believe that it is necessary to facilitate the implementation of the main market transfer and ensure the company’s compliance with the MMLR.

“We are confident that the main market transfer will be approved by the relevant authorities, as we continue to expand our business operations by extending our ambulatory care centre (ACC) network to connect the major states and set up more satellite clinics within Malaysia to reach patients in remote areas," she said.

“The main market transfer will mark another major milestone in the achievement of Optimax after our listing on the ACE Market on Aug 18, 2020. Barring any unforeseen circumstances and subject to all required approvals being obtained, we are hopeful that the main market transfer can be completed by 4Q 2022," Tan added.

Based on the record of depositors of Optimax as at May 6, 2022, approximately 33.7% of the total number of issued shares were held by 3,570 public shareholders holding not fewer than 100 shares each.