Pekat gets SC approval for proposed Main Market transfer
The solar engineering firm reported combined net profit of RM80.78 million across FY2023 to FY2025, exceeding the transfer requirement.
Pekat Group Bhd has received approval from the Securities Commission Malaysia (SC) to move its Bursa Malaysia listing to the Main Market from the ACE Market, according to a stock exchange filing. The regulator also confirmed that Pekat had met the Bumiputera equity requirement applicable to public-listed companies.
The solar engineering company joined the ACE Market in June 2021. When announcing its transfer plan in June, Pekat said it expected the move to raise its corporate profile and draw more investor interest, particularly from institutions. Public Investment Bank Bhd is advising the company as principal adviser.
Pekat met the transfer's financial criteria, which require combined net profit over three financial years of at least RM30 million, including at least RM15 million for the latest year. Its combined net profit for FY2023 to FY2025 reached RM80.78 million, with FY2025 contributing RM45.05 million.
In its latest filing, Pekat reported FY2025 revenue of RM609.53 million against RM286.98 million in FY2024, attributing the increase to stronger contributions from solar and power distribution equipment. For the first six months of FY2026, net profit increased from RM23.08 million to RM26.63 million, while revenue climbed from RM277.30 million to RM343.32 million.
