Swee Hong to be placed on SGX watch-list

SINGAPORE - Construction firm Swee Hong will be placed on the Singapore Exchange's (SGX) watch-list with effect from Monday (Dec 5).

This comes as the company has recorded pre-tax losses for the three most recently completed consecutive financial years, and also had an average daily market capitalisation of less than $40 million over the last six months.

Swee Hong has 36 months from Monday to take "active steps" to restore its financial health and meet the conditions needed to get itself off the watch-list. If it fails to do so, the SGX will delist the company or suspend trading in its shares with a view to delisting.

The company said in an exchange filing that its business will continue as usual.