Southern Score sets sights on transfer to Main Market

• Southern Score said that the transfer will enhance its corporate profile, credibility and reputation, while increasing its visibility among institutional investors. The company believes the move will also improve the liquidity and marketability of its shares.

KUALA LUMPUR (March 27): Construction group Southern Score Builders Bhd (KL:SSB8) is eyeing a transfer of listing from the ACE Market to the Main Market of Bursa Malaysia.

In a bourse filing on Thursday, Affin Hwang Investment Bank Berhad, acting on behalf of Southern Score, confirmed that the proposed transfer will involve the company’s entire issued share capital, which currently stands at RM373.5 million, comprising 2.27 billion ordinary shares.

Southern Score said that the transfer will enhance its corporate profile, credibility and reputation, while increasing its visibility among institutional investors. The company believes the move will also improve the liquidity and marketability of its shares.

The construction group requires the approval of the Securities Commission (SC), with an application to be made within the next two months. The process will not involve the issuance of new shares or any equity fundraising.

Affin Hwang IB has been appointed as the principal adviser to the company for the proposed transfer.

For the second quarter ended Dec 31, 2024 (2QFY2025), Southern Score reported a 64% increase in net profit to RM10.9 million, up from RM6.62 million in the previous year’s corresponding quarter, mainly due to a lower cost of sales driven by cost savings from the Vista Harmoni Sentul Residences project.

Revenue increased by 3%, reaching RM40.7 million, as compared to RM39.17 million in the same period last year.

Southern Score closed half a sen or 1.1% higher at 47.5 sen on Thursday, valuing the group at RM1.08 billion.

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