PETALING JAYA: LGMS Bhd

is seeking a transfer of its shares to the Main Market of Bursa Malaysia from the ACE Market.

The cybersecurity services provider, which has a market capitalisation of around RM424.08mil, said it has met the requirements of the profit test pursuant to Paragraph 5.02(a) of Bursa’s Equity Guidelines.

“LGMS Group has achieved audited consolidated net profit of approximately RM12.34mil for its most recent financial year ended Dec 31, and an aggregate consolidated net profit of approximately RM35.11mil for the past three audited financial years from 2022 to 2024,” it said in a statement to Bursa Malaysia.

The guidelines by Bursa requires the group achieve aggregate audited net profit of at least RM20mil for three to five full financial years and net profit for the most recent financial year of at least RM6mil, it said.

“The proposed transfer signifies the growth, profitability and financial strength of the group as it has met the profit track record requirements for a transfer to the Main Market of Bursa Malaysia,” LGMS said.