SATELLITE communications equipment provider Global Invacom : QS9 0%, construction player Keong Hong : 5TT 0% and green-energy solutions provider Green Build Technology : Y06 0% will be put on the watch list of the Singapore Exchange Regulation (SGX RegCo) from Wednesday (Jun 5).
SGX RegCo undertakes a review of all mainboard-listed companies every six months.
Listing rules require a company to be put on the watch list if it records pre-tax losses for the last three consecutive financial years, and fails to maintain an average daily market capitalisation of at least S$40 million over the last six months.
The three companies have to take active steps to restore their financial health and improve their market valuation within 36 months from Jun 5, failing which they may be delisted, or have the trading of their shares suspended with a view to being delisted.
Global Invacom said its board will work at meeting the criteria to exit the watch list; Green Build Technology and Keong Hong said they would continue business as usual.
The shares of all three companies ended flat on Tuesday: Global Invacom at S$0.048, Green Build Technology at S$0.052, and Keong Hong at S$0.114.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
