SINGAPORE (THE BUSINESS TIMES) - Seven companies have entered the Singapore Exchange's (SGX) watch list with effect from Dec 4, all for failing to meet the financial entry criteria.

They are ASL Marine Holdings, XMH Holdings, AEI Corporation, Debao Property Development, USP Group, Singapore Myanmar Investco and Reenova Investment Holding, as announced in their respective regulatory filings on Tuesday evening and Wednesday morning.

Under the Singapore bourse's listing rules, mainboard-listed companies will be placed on the watch list under the financial entry criteria if they record pre-tax losses for the three most recently completed consecutive financial years and also fail to maintain an average daily market cap of at least $40 million over the last six months.

To exit the watch list, the seven firms must take active steps to satisfy the financial requirements within 36 months from Dec 4.

That means they will need to record a consolidated pre-tax profit for the most recently completed financial year, based on the latest full-year consolidated audited accounts, and have an average daily market cap of $40 million or more. Otherwise, they will be delisted from the SGX, or have their trading suspended with a view to delisting the company.