KUALA LUMPUR (March 13): Consumer electronics products manufacturer Salutica Bhd has obtained the green light from the Securities Commission Malaysia (SC) to transfer the listing of its shares to the local bourse's Main Market from the ACE Market currently. This is barely a year since it was listed on the ACE Market on May 18, 2016. Salutica did not specify the time frame to complete the transfer its shares to the Main Market, but in an announcement made in end-September last year, it had expected to complete it by the first quarter of this year. To migrate to the Main Market, Salutica had said it has met the criteria set by the capital markets regulator, which included meeting the profit requirement target and healthy balance sheet. Listed under the consumer category in the ACE Market, Salutica shares nearly doubled from its initial public offering price of 80 sen in May 2016 to close at RM1.56 today, giving it a market capitalisation of RM605.28 million.

Source: The Edge Markets March 13, 2017 12:33 UTC