BM Mobility files notice of 3 years' losses; 6-month market cap below SGX watch-list threshold

MAINBOARD-LISTED BM Mobility filed a notice of three consecutive years' losses on Friday, after financial results for the year ended Dec 31, 2017 saw the company go into the red.

Under Singapore's listing rules, companies go on a watch list if they clock pre-tax losses for three straight years and have an average daily market capitalisation of less than S$40 million over six months.

The company, formerly known as Ziwo Holdings, said that it was worth an average of S$7.2 million over six months as at May 31.

The Singapore Exchange holds quarterly reviews to identify which share issuers should be put on the watch list, with the next review taking place on the first market session in June.

In January 2018, BM Mobility made a RM850,000 (S$285,916) offer for Wanted Marketing Communications' majority stake in UNiRide Ecotour Sdn Bhd, which has been tapped to serve four of the 20 Malaysian public universities.

BM Mobility shares closed S$0.001 or 8.3 per cent down at S$0.011 on Friday before the announcement.