Mestron proposes transfer to Main Market

It is expected to enhance company’s prestige and reputation 


MESTRON Holdings will be transferred to the Main Market from the ACE Market by the fourth quarter of this year (4Q23). 

A filing to Bursa Malaysia showed that the manufacturer of specialty poles has also proposed an amendment to the constitution of Mestron to facilitate the implementation of the main market transfer. 

“The company is in a healthy financial position with no accumulated losses based on its latest audited consolidated statement of financial position as of Dec 31, 2022,” its MD Por Teong Eng said in a statement. 

The filing also shows that Mestron has satisfied the above profit requirements as the company’s aggregate adjusted net profit attributable to company owners for the past five financial years ended Dec 31, 2018, to 2022 (FY18-FY22), after adjusting for non-recurring items and items. 

The transfer is expected to enhance the company’s prestige and reputation and will accord Mestron greater recognition and acceptance among investors, particularly institutional investors. 

“The Main Market transfer would also promote the company’s corporate image leading to greater recognition and confidence to clients, sub-contractors, business partners, bankers, employees and shareholders,” Por added. 

Por noted that Mestron was listed at a market capitalisation of RM126.4 million, and, as of the latest practicable date, the company’s market capitalisation stands at approximately RM385.1 million. 

“As such, the board considers the transfer to be timely and beneficial to the company’s future growth and its ability to raise funds for further expansion,” Por said. 

  • This article first appeared in The Malaysian Reserve weekly print edition