Seven firms join SGX's watch list on financial entry criteria

Seven companies have been added to the Singapore Exchange's (SGX) watch list - 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.

Mainboard-listed firms are placed on the 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 previous six months.

The firms must take active steps to satisfy the financial requirements within 36 months from Dec 4 if they want to get off the list. 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.

  • 36

    Number of months the seven firms have to take active steps to satisfy the financial requirements to get off the list.

Otherwise, they will be delisted from SGX, or have their trading suspended with a view to delisting.

THE BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on December 05, 2019, with the headline 'Seven firms join SGX's watch list on financial entry criteria'. Print Edition | Subscribe