A-Sonic Aerospace has received the go-ahead from the Singapore Exchange to exit the Watch-list, just over five years after it was included.
The removal will take effect on June 30.
The company, which is in both aviation and logistics, notes that its financial position has improved significantly.
Earnings for FY2021 ended Dec 2021 was $8.9 million, versus $8.7 million recorded in the preceding FY2020. Operating profit, excluding non-recurrent items, was $12.651 million and $2.345 million for FY2021 and FY2020 respectively.
Revenue in the same period was up 74.8% to a record of $617.3 million.
Its cash and equivalent, as at end Dec 31 2021, was $53.265 million, which exceeds its current market cap of $47 million, which, in turn, meets one of the minimum $40 million required of companies exiting the watch-list.
See also: Interra Resources granted 12-month extension to meet SGX watch-list exit requirements
A-Sonic shares closed on June 29 at 67 cents, down 0.75% for the day and up 10.83% year to date.
