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Advance SCT to exit SGX watch list on June 18

ADVANCE SCT will be taken off the Singapore Exchange's watch list with effect from June 18.

The supplier of copper-related products was put on the watch list in March 2015, for posting pre-tax losses for the three most recently completed consecutive financial years and having a six-month average daily market capitalisation of below S$40 million.

On Mar 2, 2018, it applied to exit the watch list, based on its audited full-year consolidated results for the financial year ended Dec 31, 2017. In a regulatory filing on Thursday, Advance SCT said it had received in-principle approval from SGX for its application.

Advance SCT posted a net profit of S$1.5 million for FY2017, compared to a loss of S$7.7 million in FY2016. In FY2017, it also achieved a net profit of S$0.67 million in recurring operations, which "signals that it has recovered from the tumultuous years and is on the path of growth", the firm said in its results report for that year.