Swee Hong Ltd to be on Singapore Exchange watch-list
Civil engineering firm Swee Hong will be placed on the Singapore Exchange's (SGX) watch-list from today, for failing to meet the exchange's minimum continuing criteria.
The company has recorded pre-tax losses for its three most recently completed consecutive financial years.
It has also had an average daily market capitalisation of less than $40 million over the last six months.
Swee Hong has 36 months to take "active steps" to restore its financial health and meet the conditions needed to get itself off the watch-list.
To do that, the firm must record a consolidated pre-tax profit for the most recently completed financial year, based on the latest full-year consolidated audited accounts.
It must also have an average daily market capitalisation of $40 million or more over the last six months.
Failing which, the exchange will delist the company or suspend trading in the latter's shares with a view to delisting it.