Parkson Retail Asia, the 67.96%-owned subsidiary of Bursa-listed Parkson Holdings, has exited from the Singapore Exchange ’s (SGX) watch-list on Oct 4.
An approval in-principle was given to the company by the Singapore Exchange Securities Trading Limited (SGX-ST) via a letter dated Oct 2.
Parkson Retail Asia, on Dec 4, 2023, sought to extend its cure period to Dec 2 this year, so that the company can meet SGX’s listing requirements under Rule 1314 of the listing manual. The application came after the company’s average daily market capitalisation exceeded the $40 million required over the last six months. The company also achieved a healthy cash flow from its operating activities for the FY2022 ended Dec 31, 2022 among other factors.
The extension was granted on Dec 14, 2023. The company then submitted an application to exit from the watch-list on Aug 16 this year.
Shares in Parkson Retail Asia closed at 6.8 cents on Oct 3.
