OpenSys proposes to switch itemizing to Principal Market by the third quarter

KUALA LUMPUR: Software program firm Opensys (M) Bhd has proposed to switch its itemizing from the ACE Market to the Principal Market of Bursa Malaysia by the third quarter of 2022.

In a submitting with Bursa Malaysia, OpenSys mentioned the proposed itemizing switch signifies the expansion, profitability and monetary energy of the group because it has met the revenue observe report necessities for a switch to the Principal Market.

As at Jan 31, 2022, being the newest practicable date (LPD), the issued share capital of the corporate was RM29.79 million comprising 446.84 million bizarre shares.

“OpenSys and its subsidiaries have met the necessities for the proposed itemizing switch as set out within the fairness tips issued by the Securities Fee Malaysia,” it mentioned.

The group mentioned its market capitalization is roughly RM169.80 million — having grown from its itemizing market capitalization of roughly RM53.23 million, reflecting the group’s present outlook and prospects, measurement and scale of operations in addition to stakeholders’ confidence and perception within the firm.

“The board believes that the proposed itemizing switch will improve the corporate’s credibility and status and accord the corporate with larger recognition amongst institutional traders,” it added.

The group has achieved an audited consolidated revenue after taxation attributable to the homeowners of the corporate (PATMI) of roughly RM11.08 million for the monetary 12 months ended Dec 31, 2020 (FY2020) and an mixture consolidated PATMI of roughly RM32.34 million for the previous three audited FY2018, FY2019 and FY2020.

On the shut of Bursa Malaysia as we speak, OpenSys share value eased one sen to 36 sen per share with 357,400 shares traded. – Bernama


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