Plastoform exits from SGX watch-list

After achieving above S$40m market cap.

According to a release, Plastoform Holdings Limited announced that the Group has successfully exited the Singapore Exchange Watch-list with effect from May 21, 2013.

Following the Group reporting its first full year pre-tax profit for FY2012, and achieving a 120-day average market capitalisation of above S$40.0 million, the Group yesterday received approval in-principle from the SGX on its removal application.

Mr Michael Tse Kin Man, Executive Chairman of Plastoform said, “Against all odds, Plastoform has emerged from the SGX Watch-list through consistent and unyielding efforts to turn the business around, having grown organically through a change in business strategy – focusing on creating and providing high-value, cutting-edge design and superior technology in our product offerings to the audio speaker market.”