KUALA LUMPUR (April 25): Bursa Securities has granted Penang-based TT Vision Holdings Bhd's (TTVHB) request to delist from the LEAP Market. The automated machine vision solutions provider has been listed on the LEAP Market since May 9, 2019.

Following this, the company is required to furnish the regulator with a letter confirming the details of the shareholders of TTVHB as at Jan 24. Trading in TTVHB's shares will be suspended upon the expiry of five market days from the date of Bursa's receipt of the confirmation letter.

On Dec 30, 2021, TTVHB announced that its major shareholders — Goon Koon Yin and spouse Tan Oon Pheng, Wong Yih Hsow, Jennie Tan Yen-Li and Malaysian Technology Development Corp Sdn Bhd who collectively hold an 89.93% stake — had requested its board of directors to consider undertaking voluntary withdrawal of TTVHB's listing from the LEAP Market. The remaining 10.07% of the company's shares are held by 22 minority shareholders.

TTVHB said the proposed withdrawal of LEAP Market listing essentially is aimed at facilitating its listing on the ACE Market, which it believes will further enhance the company's prestige, credibility and reputation and accord it with greater recognition from various stakeholders.

The proposed ACE Market listing is also expected to provide the company access to a bigger fundraising platform to support its expansion plan and to realise its long-term growth potential.