Yuexiu Properties to delist from the SGX

Blame it on lacklustre trading volume.

Yuexiu Properties revealed that it will voluntarily delist its shares from the SGX. The Hong Kong-listed group will drop its secondary listing in Singapore due to the low trading volume of its shares.

Yuexiu said that the move will allow it to eliminate the additional administrative overhead and costs of compliance associated with its secondary listing. The group said that these overhead costs “outweigh the benefits” of its secondary listing on the Mainboard.

“The proposed Delisting will eliminate the additional administrative overhead and costs of compliance...and allow the Company to streamline its compliance obligations, reduce its legal and compliance costs and focus its resources on its business operations,” said the company’s statement.