CNMC Goldmine to transfer to SGX mainboard on Aug 28

CNMC Goldmine shareholders overwhelmingly approved the transfer of the gold producer to the Singapore Exchange (SGX) mainboard on Aug 20, with 97.5% of votes in favor, according to the company. The transfer will take effect from Aug 28 and will mark the end of PrimePartners Corporate Finance’s role as the company's sponsor. It will then become CNMC’s compliance adviser.

In a positive sign, CNMC CEO Chris Lim stated that the vote is evidence that shareholders are backing the company's strong financial performance. He highlighted that the company's earnings have grown more than tenfold since 2023. CNMC's net profit surged 326.5% to US$42 million in FY2025, up from US$9.8 million in FY2024. In the first half of 2026, net profit reached US$18.6 million, which was 17.8% higher compared to the same period in 2025.

The move to the mainboard is expected to widen the pool of investors for CNMC as it advances with the next phase of underground development at its flagship Sokor gold field project in Malaysia. Lim emphasized that the company is continuing to invest in underground mining at the Sokor project to access higher-grade ore and boost production. Additional underground gold mining facilities are also under construction, along with two new vertical shafts budgeted at US$12 million, slated for completion in 2027.

CNMC believes that the upgraded listing will enhance its profile with local and overseas investors, attracting broader coverage from research analysts. Mainboard-listed companies typically garner more extensive research analysis, which will help in a more accurate valuation based on the company's underlying value and improved trading liquidity. CNMC's shares ended Thursday at S$1.40, up 2.2% or S$0.03 after the announcement.