KUALA LUMPUR (Dec 6): ACE Marlet-listed Perak Transit Bhd has received a green light from the Securities Commission Malaysia (SC) to transfer its listing to the Main Market of Bursa Malaysia.

In February, the company had proposed for the transfer lisiting.

The group told Bursa then that it had met the requirements of the Securities Commission Equity Guidelines based on its audited financial statements, with an aggregate net profit of at least RM20 million for the past three full financial years and a net profit of at least RM6 million for the most recent financial year. 

Perak Transit added that the proposed transfer would enhance its credibility and reputation, and accord it greater recognition among investors. 

The company was listed on Oct 6, 2016, at an issued price of RM0.15 per share.

Perak Transit shares closed unchanged at 26 sen today, with 2.3 million shares done, bringing a market capitalisation of RM364.25 million.