SINGAPORE - Green Build Technology announced on Jan 20 that it has been removed from Singapore Exchange's watch-list after returning to profitability over the last 120 trading days as a result of restructuring and venturing into new business areas.
Listed companies are put on SGX watch list if they post three consecutive years of pre-tax losses and have an average daily market capitalisation of less than $40 million over the 120-day period.
The company, which was renamed from Youyue International in October last year, was in the frozen food and packaging business, but has since expanded into energy and sustainable development sectors.
As part of its new venture, Green Build Technology was involved in the upgrading of housing estates in Hebai, Harbin City using green technology, the company said
"Following the removal of the company from the SGX watch list, we can now concentrate on the new business - designing and implementing green architecture involving sustainable and renewable energy solyutions to existing housing infrastructure,' Green Build Technology chief executive Wu Xueying said.