The number of firms placed on the Singapore Exchange (SGX) watch-list for not meeting minimum trading price requirements has grown to 22 with a further three added for failing to meet financial criteria.

If companies do not meet the requirements to exit the watch--list within 36 months, they may be delisted or have their shares suspended.

Five mainboard-listed firms said yesterday before the market opened that they have been listed for not meeting minimum trading price (MTP) requirements following a half-year review. They are Tye Soon, Anchun International Holdings, Design Studio Group, Dynamic Colours and First Ship Least Trust. They had a volume-weighted average price of less than 20 cents a share and an average daily market capitalisation of less than $40 million over the last six months.

ASTI Holdings said it is on the financial watch-list because it had pre-tax losses for its three most recently completed consecutive financial years. It also failed to maintain an average daily market capitalisation of at least $40 million over the past six months.

Earlier on Wednesday, Advanced Holdings, China Jishan Holdings, China Mining International, Kencana Agri, PSL Holdings and Sakae Holdings said they were on the watch-list over minimum trading price rules.

Eight other firms had announced on Tuesday that they will be added to this watch-list.

United Food Holdings was added to the list due to both MTP and financial criteria.

Raffles Infrastructure Holdings and Mencast Holdings announced their inclusion on the watch-list over financial criteria on Wednesday evening.