Six more firms join SGX watchlist

All failed to have a volume-weighted average price of at least $0.20 per share.

Six mainboard-listed firms will be included on the Singapore Exchange’s (SGX) watchlist with effect from 6 June, filings with the local bourse revealed.

The firms include soybean products and animal feed supplier United Food Holdings which was placed on the watchlist due to the financial entry criteria and minimum trade price (MTP) entry criteria. Similarly, compounded resin manufacturer Dynamic Colours, furniture company Design Studio Group, new ship fund raiser First Ship Lease Trust, automotive parts distributor Tye Soon and engineering services firm Anchun International Holdings were placed on the watchlist due to the MTP entry criteria.

On 5 June, semiconductor equipment manufacturer ASTI Holdings, Raffles Infrastructure Holdings and engineering firm Mencast Holdings were also notified that they would be placed on the watchlist based on their pre-tax losses for the most recently completed consecutive financial years, as well as failure to have an average daily market capitalisation of $40m or more over the last six months.

Crude palm oil producer Kencana Agri was also placed under the watchlist due to the MTP trading entry criterion.

The firms will have 36 months from 6 June to be removed from the watchlist. Failure to do so will result in the delisting of the company from the Singapore Exchange Securities Trading (SGX-ST) or suspension of the firm’s shares with a view to delisting the company.

Also read: Attilan Group receives delisting notice from SGX

Under the listing manual rules, the firms will be assessed by the SGX-ST for removal from the watchlist if they are able to record a volume-weighted average price of at least $0.20 per share. For United Food Holdings and ASTI Holdings, it will also need to have an average daily market cap of $40 million or more over the last six months.

Following the filings, this brings the total number of companies joining the MTP watch-list to 27.