JFTECH 0146 JF TECHNOLOGY BERHAD to attract more institutional investors from brader market

 JFTECH 0146 JF TECHNOLOGY BERHAD to attract more institutional investors from brader market

Managing director Datuk Foong Wei Kuong said that now that the company is the main market company, this would boost the confidence of stakeholders and better reflect the company's current scale of operations.

KUALA LUMPUR: JF Technology Bhd (JF Tech) will now focus on attracting more institutional funds that do not have the mandate to invest in ACE Market companies, giving the company greater access to the broader capital markets.

JF Tech today successfully transferred its listing from the ACE Market to the Main Market of Bursa Malaysia.

Managing director Datuk Foong Wei Kuong said that now that the company is the main market company, this would boost the confidence of stakeholders and better reflect the company's current scale of operations.

Foong said that the company's long-term vision continues to be promising.

"Our key focus remains on the execution of our six growth drivers, which are progressing well.

"On balance, we believe our transfer to the main market and the many implicit benefits that come with it will bring us another step forward in our journey to realize our growth drivers," he said in a statement today.

To recap, the company delivered positive earnings in its latest financials, which ended June 30, 2022 (FY22), the second consecutive year it achieved record revenue and net profit performance.

The manufacturer of high-performance test contacting solutions for globally integrated circuit makers said FY22 revenue and net profit rose to an all-time high of RM45.3 million and RM17.2 million, respectively, driven by solid demand from customers for high-performance test contactors.

On balance sheet strength, the company remains in a net cash position, with net cash per share of 8.2 sen as of end-September 2022, backed by net assets of 14.1 sen per share.

As for dividend payout, JF Tech has paid a total dividend of one sen per share, amounting to RM9.3 million in FY22.

This represented a 54.1 per cent payout based on a net profit of RM17.2 million.

https://www.nst.com.my/business/2022/12/862309/jf-tech-attract-more-institutional-investors-brader-market