PETALING JAYA: Inta Bina Group Bhd has proposed to undertake a transfer of its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd.
Inta Bina said the group and its subsidiary Inta Bina Sdn Bhd (IBSB) have satisfied the requirements for the transfer listing, including profit requirements, healthy financial position and public shareholding spread.
IBSB’s aggregate net profit for the past three years is RM39.84 million with RM15.6 million for FY17, being the most recent financial year.
As at Dec 31, 2017, Inta Bina’s current assets stood at RM174.73 million while current liabilities were at RM130.69 million. Its current ratio, which is calculated as current assets over current liabilities, was at 1.34 times, reflecting the ability to meet short-term obligations.
It is also in a healthy financial position with no accumulated losses.
Inta Bina expects the proposed transfer listing will enhance its prestige and reputation, and accord the group with greater recognition and acceptance among the investors, in particular, institutional investors.
Currently it has a market capitalisation of RM176.64 million.
The stock was up 1.6% to close at 32.5 sen on some 206,600 shares done.
Source: The Sun Daily