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SL Innovation Capital Bhd (SLIC) has decided to defer its proposed transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia, citing uncertain market and economic conditions.
In a filing today, the company said the decision also took into account the rapidly evolving competitive landscape in the artificial intelligence sector.
The proposed transfer involved a voluntary withdrawal from the LEAP Market, followed by a listing on the ACE Market.
The company had made multiple announcements on the plan since June 2023.
SLIC said it will reassess the proposal when conditions are more conducive.
SL Innovation is primarily involved in providing information technology infrastructure solutions and enterprise software.
The group was listed on the LEAP Market on May 21, 2018, with an initial public offering price of 18 sen. — TMR
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