Accrelist and unit Jubilee halt trading pending announcements

CORPORATE accretion services provider Accrelist and its subsidiary Jubilee Industries Holdings have separately called for trading halts around an hour after the market reopened after the mid-day break.

Accrelist called for the trading halt pending the release of an announcement. Prior to the halt, Accrelist was trading flat at 0.4 Singapore cent as at 2.26pm on Tuesday.

Meanwhile, Jubiliee, an electronic components and plastic mould producer, called for the trade halt pending the release of a material announcement. Before the halt, it was trading at 2.8 cents as at 2.26pm on Tuesday, reversing early morning gains.

Both companies, which are listed on the Singapore Exchange's Catalist board, had earlier posted their fiscal 2019 results on Tuesday morning.

Accrelist narrowed its net loss to S$71,000 for the financial year ended March 31, from a S$310,000 net loss for the year-ago period, citing a sustained turnaround and Jubilee's stronger operational performance for the group's improved performance.

Jubilee recorded a S$3.3 million profit for fiscal 2019 which more than tripled from S$932,000 a year ago. Revenue increased 2.3 per cent to S$163.7 million from S$160 million, with its mechanical business unit's revenue more than doubling after the acquisition of Honfoong Plastics.