MICROLINK MARKS KEY MILESTONE WITH COMPLETION OF TRANSFER TO BURSA MAIN MARKET

27 February 2023: Malaysian-based technology solutions provider Microlink Solutions Berhad (Microlink) has announced the successful transfer of its share listing from the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) to the Main Market, marking an important milestone in the Group’s history. Microlink has experienced solid growth over the last few years and is now one of the leading enterprise solutions delivery and systems integration partners in the ICT sector.

Microlink Group CEO Ramlee Abdullah, said, “Today is a momentous day for the Microlink Group and is a strong testament to the positive progress we have achieved in recent years. On behalf of all stakeholders involved in this transfer process, we would like to extend our deep appreciation for the dedication and support received to bring this to fruition. We are truly proud to now be a fellow member of the prestigious body of companies who are listed on the Bursa Main Market.”

The Group’s sound track record of complex project implementation has enabled expansion beyond its strong legacy in Financial Services [FSI], into telecommunications and the public sector, progress which is demonstrated by a number of recent contract successes.

These include a RM48.55 million project for Koperasi Co-opbank Pertama Malaysia Berhad (CBP) for the upgrade of its existing MiBS core banking platform, which includes the digital enablement of mobile and internet banking.

Further afield, Microlink also secured its first win in Vietnam in the Insurance sector with a project for the digitalisation of Vien Dong Assurance [VASS] operations. In the Middle East, the Group is also working on a project for Saudi Telecomm Company Bahrain in partnership with Huawei Technologies.

The transfer proposal received the approval of the Securities Commission of Malaysia in mid-January 2023, followed by approval also being granted by Bursa Malaysia on 21 February 2023. Trading on the Main Market began at market open on Monday 27 February 2023 under its existing stock code 0126.

Microlink was first listed on the ACE Market of Bursa Securities back in 2006, with a market capitalisation of RM62.43 million. The current market capitalisation of the Company has grown more than tenfold to approximately RM879 million.

The Group’s steady financial performance is illustrated in its FY2023 Q3 results announced recently, which record revenue of RM73.17 million for the quarter, up 31% on revenue posted for the second quarter of FY2023. Cumulative revenue for the year to date was recorded at RM183 million, a 10% increase on the previous corresponding period. This was mainly attributable to higher order fulfilments and progress billings, particularly in the Financial Services segment. PBT of RM8.25 million was recorded for the current quarter, a slight increase as compared to the preceding quarter, in tandem with the higher revenue posted. “Our move to the Main Market opens a new chapter for the Microlink Group, building on our continued progress and evolution in the ICT and technology space for the delivery of large-scale enterprise projects,” added Ramlee. “This progress has contributed significantly to our financial performance in the last few years that has helped us meet the requirements for transferring to the Main Market.”  The Group’s performance has also allowed for a dividend to be paid.