Optimax Proposed Plans to Transfer it's Listing from ACE Market to Main Market of Bursa Securities Malaysia

Optimax Holdings Berhad (“Optimax” or the “Company”), one of the industry’s established private eye specialist service providers, today announced the Company proposed to transfer its listing to the Main Market of Bursa Securities from ACE Market and proposed adoption of a new Constitution of Optimax to facilitate the implementation of the transfer.

Optimax has met the requirements for the transfer of its listing as set out in the Equity Guidelines issued by the Securities Commission Malaysia (“SC”) and the Main Market Listing Requirements (“MMLR”) of Bursa Securities. Optimax has met the profit requirement with an aggregate after-tax profit of at least RM20.00 million for the past 3 to 5 full financial years and an after-tax profit for the most recent financial year of at least RM6.00 million.

Meanwhile, Optimax has a solid financial position and liquidity with no accumulated losses, current assets and current liabilities of RM33.52 million and RM13.97 million respectively, representing a current ratio of 2.40 times as well as cash and bank balances of RM19.61 million as at 31 December 2021. Optimax has also generated positive net cash flow from operating activities of RM19.69 million in FY21 and has consistently done so since 2017.

Ms. Sandy Tan (“Sandy”), Chief Executive Officer of Optimax, said: “We believe that the transfer from the Main Market of Bursa Securities from ACE Market will enhance the Company’s credibility, prestige, and reputation as well as accord the Company with greater recognition and support amongst investors and all stakeholders while reflecting Optimax’s current scale of operations. This in turn is expected to improve the liquidity and marketability of Optimax Shares.”

“We have also proposed the adoption of a new Constitution of Optimax as we believe that it is necessary to facilitate the implementation of the main market transfer and ensuring the Company’s compliance with the MMLR.”

“We are confident that the main market transfer will be approved by the relevant authorities, as we continue to expand our business operations by extending our ambulance care centres (“ACC”) network to connect the major states and set up more satellite clinics within Malaysia to reach patients in remote areas.”

“The main market transfer will mark another major milestone in the achievement of Optimax after our listing on the ACE Market of Bursa Securities on 18 August 2020. Barring any unforeseen circumstances and subject to all required approvals being obtained, we are hopeful that the main market transfer can be completed by the Q4 of 2022.”

Based on the Record of Depositors of Optimax as at 6 May 2022 (“LPD”), approximately 33.70% of the total number of issued Shares were held by 3,570 public shareholders holding not less than 100 Shares each.