KUALA LUMPUR: Redtone Digital Bhd has transferred its entire issued share capital from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd.

The integrated telecommunications and digital infrastructure services to the Malaysian government and enterprises saw its share price open at 61 sen this morning.

At lunch break, REDtone had risen 4.13% or 0.025 sen to 63.0 sen, with 6.87 million shares traded, giving it a market capitalisation of RM486.96mil.

Group chief executive officer Lau Bik Soon said the transfer to the Main Market was testimony to the REDtone Group’s resilience and strong foundation, as well as its ability to deliver favourable results despite a challenging business environment.

“The Main Market listing will power-up our market presence and growth especially in the Managed Telco Network Services (MTNS) segment and telecommunications solutions for the enterprise market. The MTNS segment is expected to remain as the main contributor for the Group amidst the ongoing large scale telecommunication infrastructure projects such as JENDELA and the 5G rollout,” he added.

Lau said the group would also pursue growth in the booming telecommunications segment.

“We are also constantly exploring new technologies, with the aim of developing new services and revenue streams, to deliver strong and sustainable growth.”

Source: The Star