Farm Price Proposes Transfer to Bursa Malaysia’s Main Market to Support Growth Strategy
PETALING JAYA: Farm Price Holdings Berhad has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Berhad, as part of its strategy to strengthen corporate standing and expand investor reach.
The fresh produce and food-and-beverage distributor said the proposed transfer involves its entire issued share capital and warrants, subject to meeting the eligibility requirements set by the Suruhanjaya Sekuriti Malaysia.
Managing Director Lawrence Tiong Lee Chian said the move reflects the group’s operational maturity and readiness for the next phase of sustainable growth.
He noted that the transition is not merely a change in listing platform, but a reflection of strong governance, financial discipline and long-term business resilience.
“We believe this transfer will enhance Farm Price’s credibility, broaden recognition among institutional investors and reinforce confidence in our long-term prospects,” he said in a statement.
Operational Expansion and Infrastructure Development
Lawrence said the proposal is expected to strengthen confidence among customers, suppliers and business partners as the group continues expanding its presence in Malaysia and Singapore.
He added that the expansion of the Central Distribution Centre in Senai has been completed and is scheduled to be fully operational in the first quarter of 2026.
The facility is expected to improve handling capacity, enhance value-added services and support higher operational efficiency.
“Once fully operational, the centre will be a key driver of growth and service quality,” he said.
Strong Financial Performance Supports Proposal
Financially, Farm Price recorded cumulative post-tax profits of RM23.8 million over the three financial years ended 2022 to 2024.
For FY2024 alone, the group posted a net profit of RM10.3 million, exceeding the Main Market’s minimum profit requirements.
The company also maintains a strong balance sheet, with current assets of RM51.8 million against current liabilities of RM12.1 million, resulting in a current ratio of 4.27 times.
As of end-2024, cash and cash equivalents stood at RM29.6 million, while total borrowings were RM10.9 million, reflecting a healthy gearing ratio.
Farm Price has also generated positive operating cash flow for three consecutive years and complies with public shareholding spread and Bumiputera equity requirements.
The company was listed on the ACE Market in May 2024, raising RM24.5 million through its initial public offering.
-wilayah.com.my
