Lafe Corporation placed on SGX watch-list

SINGAPORE - Property group Lafe Corporation has been placed on the Singapore Exchange watch-list from Friday (June 3), after posting losses for three consecutive years.

To be removed from the watch-list, the company must, within the next three years, record consolidated pre-tax profit for a year and have an average daily market capitalisation of S$40 million or more over six months.

If not, it will be delisted or have trading of its shares suspended with a view to delist the company.

"The Group's business shall continue as in its securities will also continue unless a trading halt or suspension is effected," Lafe Corporation said in a filing to the Singapore Exchange.