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 JFTECH 0146 JF TECHNOLOGY BERHAD completes listing transfer to Main Market

KUALA LUMPUR: JF Technology Bhd has successfully transfered the listing and quotation of its entire issued share capital and outstanding warrants from the ACE Market to the Main Market of Bursa Malaysia Securities.

In a statement, managing director Datuk Foong Wei Kuong said the key focus of the company remains on the execution of its 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 realise our growth drivers," he added.

The manufacturer of high-performance test contacting solutions for global integrated circuit makers delivered a record-breaking performance in its latest financial year ended June 30, 2022, which was the second consecutive year it achieved record revenue and profit after tax and non-controlling interest performance.

FY22 revenue and net profit rose to an all-time high of RM45.3mil and RM17.2mil respectively, driven by solid demand from customers for high performance test contactors.

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

The group has paid a total dividend of one sen per share amounting to RM9.3mil in FY22, representing a 54.1% payout based on net profit of RM17.2mil.

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