LSH Capital opens higher on Main Market debut

KUALA LUMPUR: Lim Seong Hai Capital Bhd (LSH Capital) opened higher on its first day on Bursa Malaysia's Main Market following its transfer from the ACE Market.

The construction company opened at RM1.78, up three sen or 1.71 per cent from its previous close of RM1.75.

The counter held at RM1.78 at 9.15am, with only modest trading activity.

It subsequently slipped two sen or 1.14 per cent to RM1.73 at the time of writing, giving the company a market capitalisation of RM1.43 billion.

The transfer marks another step in LSH Capital's progression on Bursa Malaysia, following its move from the LEAP Market to the ACE Market in March 2025.

The company was initially listed on the LEAP Market on July 30, 2021.

Unlike a conventional initial public offering, the transfer to the main market does not involve issuing new shares.

Instead, the company's existing shares were transferred to the main market.

The Securities Commission approved the accelerated transfer on Oct 2 after the group met the required financial and listing criteria.

For its latest financial results, LSH Capital's net profit fell 42.7 per cent to RM14.97 million in the third quarter ended June 30, 2026 from RM26.12 million a year earlier.

Revenue declined 7.5 per cent to RM112.73 million from RM121.88 million previously.

The company said it would focus on completing its ongoing construction projects while seeking new opportunities in construction projects and construction-related services and solutions under its BEST Collaboration Framework.

It also plans to identify suitable landbank with development potential as part of its longer-term growth strategy.

The company said the growth achieved since its listing on the LEAP Market, along with the notable construction projects completed to date, had strengthened its position in the construction and property development industries.

This was expected to provide clients and the government with greater confidence in its ability to undertake larger projects in the future, it added.