Green Build Technology, Global Invacom QS9 Group and Keong Hong Holdings 5TT will be included in the Singapore Exchange S68 ’s (SGX) watch-list with effect from June 5.
The inclusion comes after the exchange’s half-yearly review.
In their respective announcements, these companies said that they were being placed in the watch-list under rule 1311 of the listing manual. Rule 1311 states that an issuer will be included in the watch-list if it records pre-tax losses for the latest three completed financial years (FYs). The company will also have to have an average daily market capitalisation of less than $40 million over the last six months.
Issuers may apply for their removal from the watch-list if it records pre-tax profit for its latest FY and has an average daily market capitalisation of $40 million or more over the last six months.
Once in the watch-list, companies are required to take “active steps” to restore their financial health and meet the requirements of rule 1314 within 36 months from June 5. Failure to do so will result in the company being delisted. Alternatively, trading of its shares will be suspended and the company will be subsequently delisted.
Green Build Technology says its business and operations will “continue as usual”. Its securities will also continue as usual unless a trading halt or suspension is effected in accordance with the listing manual.
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Global Invacom Group says it will endeavour to comply with the exit criteria within 36 months from June 5.
Shares in Green Build Technology Y06 closed at 5.2 cents while shares in Global Invacom Group closed at 4.8 cents on June 4.
Keong Hong Holdings last traded at 11 cents, giving it a market cap of around $27.65 million.
