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