SINGAPORE - Jaya Holdings will be delisted from the Singapore Exchange (SGX) with effect from 9.00 am on Thursday, March 1.

Jaya, previously an offshore fleet and shipyard owner, reported this in an announcement to the SGX on Wednesday.

Jaya became a cash company after it sold its businesses for S$625 million in 2014 to Mermaid Marine Australia. It entered into a reverse takeover agreement to acquire Heduru Moni in May 2016 in a S$232.2 million all-share deal, but terminated the deal after it failed to obtain pre-clearance from SGX.