25 companies added to SGX watch list, of which 22 failed to meet minimum trading price criteria

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - The number of companies joining the Singapore Exchange (SGX) watch list for not meeting minimum trading price (MTP) requirements has grown to 22 following the bourse's latest half-yearly review, with another three added for failing to meet financial criteria.

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

Five more mainboard-listed companies announced on Thursday morning (June 6) before the market opened that they will be included on the watch list with effect from that same day for not meeting MTP requirements. They are Tye Soon, Anchun International Holdings, Design Studio Group, Dynamic Colours and First Ship Least Trust.

These five firms are joining the watch list under the MTP criteria, which means they had a volume-weighted average price of less than $0.20 per share and an average daily market capitalisation of less than $40 million over the last six months.

Late on Wednesday night, ASTI Holdings announced it would be placed on the financial watch list because it had pre-tax losses for its three most recently completed consecutive financial years, and failed to maintain an average daily market capitalisation of at least $40 million over the last six months.

The companies notified shareholders and business partners that their operations are continuing as normal.

Earlier on Wednesday, six companies announced their inclusion on the MTP watch list with effect from Thursday: Advanced Holdings, China Jishan Holdings, China Mining International, Kencana Agri, PSL Holdings and Sakae Holdings.

This was after eight firms had announced similarly on Tuesday that they will be added to the watch list on the same date under the MTP criteria. One of them, United Food Holdings, was added to the watch-list due to both MTP and financial criteria.

Separately, also joining the watch list under the financial entry criteria with effect from Thursday are Raffles Infrastructure Holdings and Mencast Holdings. They announced their inclusion on Wednesday evening after the market closed, before ASTI's filing.