Blumont Group on SGX watchlist

The office of Blumont Group at Central Plaza.
The office of Blumont Group at Central Plaza.PHOTO: ST FILE

SINGAPORE - Investment firm Blumont Group, one of the three stocks that crashed and wiped out more than S$8 billion in market value in days in 2013, said it will be placed on the SGX watchlist on Thursday (June 2).

This comes after three consecutive years of losses, and SGX notified the firm on Wednesday (June 1) of its inclusion on the list.

The firm has to take active steps to restore its financial health and meet certain requirements within within 36 months from Thursday.

It told all shareholders and business partners that business continues as usual.