SGX adds 12 mainboard companies facing possible delisting

Five companies were hit by pre-tax losses for the last three years.

Singapore Exchange (SGX) has added a total of 12 Mainboard-listed companies to its watchlist who risk being delisted from the bourse following its semi-annual mid-year review. 

BM Mobility, China Great Land Holdings, CosmoSteel Holdings, KS Energy and Plastoform Holdings made it to the watch list for posting pre-tax losses for the last three years and having an six-month average daily market capitalisation below $40m. Investment holding company Abterra also made it to the list under the Financial Entry and MTP Entry criteria.

Also read: SGX RegCo reveals 'naughty list' of CEOs and directors

China Yuanbang Property Holdings, Debao Property Development, Global Invacom Group, GRP, Hiap Seng Engineering, Sunvic Chemical Holdings also made the list for failing to maintain a volume-weighted average price of at least 20 Singapore cents and an average daily market cap of less than $40m over the last six months.

Companies included into the SGX watch list have a 36-month time period to resolve their deficiencies. The twelve aforementioned companies only have until June 4, 2020.

There are currently 82 companies on the SGX watch list. Watchlist reviews are conducted on a half-yearly basis in June and December each year.