KUALA LUMPUR (Oct 25): Cable and wire manufacturer Southern Cable Group Bhd is slated to transfer its listing to the Main Market of Bursa Malaysia on Thursday (Oct 28).

In a statement to the local bourse, the group said its entire share capital of 800 million shares will be transferred to the Main Market from the ACE Market.

The group is classified under the industrial products and services sector and traded under the stock name SCGBHD and stock code 0225.

Southern Cable had received the nod from the Securities Commission Malaysia to transfer its listing status on Sept 17, 11 months after its ACE Market debut on Oct 16, 2020.

It is the registered supplier of cables and wires with Tenaga Nasional Bhd, Telekom Malaysia Bhd, Sabah Electricity Sdn Bhd, and Petroliam Nasional Bhd.

The group is a key supplier to various industries including power distribution and transmission, telecommunications, building and construction, infrastructure, manufacturing and processing industries including oil and gas processing and petrochemical plants.

Among the major projects the group supplied are Mass Rapid Transit, and Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor.

Shares of Southern Cable slipped 1.02% or half a sen to close at 48.5 sen, giving the group a market capitalisation of RM388 million. Over the past one year, the stock has jumped 86.54% from 26 sen.