KUALA LUMPUR: Hextar Industries Bhd will be transferred from the ACE Market of Bursa Malaysia to the Main Market effective from June 28.
In a statement today, Bursa said the shares will be categorised under the industrial products and services sector.
The stock short name (HEXIND) and stock number (O161) of the company will remain unchanged.
Hextar Industries saw its net profit tumble 78.1 per cent year-on-year for the first quarter (Q1) ended March 31, 2024 , dragged by lower average selling prices (ASP) and higher raw material costs due to the weaker ringgit despite higher sales volume of fertilisers.
The company posted a net profit of RM4.47 million for Q1 2024 compared to RM20.42 million a year earlier, on the back of a 11.77 per cent lower revenue to RM237.71 million from RM269.43 million.
Hextar Industries is mainly involved in the manufacturing and formulation of bulk blend, mixture and compound fertilisers, trading of various fertilisers as well as providing crop management solutions.