SGX adds 12 mainboard-listed companies to watch list, removes one

Companies placed on the SGX watch list will have to take active steps to restore their financial health.
Companies placed on the SGX watch list will have to take active steps to restore their financial health.ST PHOTO: KEVIN LIM

SINGAPORE - Singapore Exchange (SGX) added 12 mainboard-listed companies to its watch list for potential delisting and removed one company on Tuesday (June 5) following a mid-year review.

The market operator placed KS Energy, China Great Land Holdings, CosmoSteel Holdings, Plastoform Holdings and BM Mobility on the watch list for recording pre-tax losses for the three most recently completed consecutive financial years and having an six-month average daily market capitalisation below S$40 million (Financial criteria).

Global Invacom Group, GRP, China Yuanbang Property Holdings, Hiap Seng Engineering, Sunvic Chemical Holdings, and Debao Property Development joined the watch list for failing to maintain a volume-weighted average price of at least 20 Singapore cents and an average daily market cap of less than S$40 million over the last six months (minimum trading price or MTP criteria).

SGX also added Abterra and Sunvic Chemical Holdings to the watch list under both the Financial Entry and MTP criteria.

The Place Holdings, meanwhile, has been removed from the watch list.

Mainboard-listed companies that are on the watch list have 36 months to resolve the criteria that led to their inclusion. They risk being delisted if they fail to meet the requirements during that window. There are currently 82 companies on the watch list.