Challenger Technologies requests trading halt

CONSUMER electronics retailer Challenger Technologies after market close on Monday (May 29) requested for a halt in trading of its shares with immediate effect, pending the release of an announcement.

In February, the mainboard-listed company reported a net profit of S$5.1 million for the six months ended Dec 31, 2022, down 40 per cent from the year-ago period’s S$8.4 million. 

The plunge in profits was primarily due to the fair value loss on investment, reduced pandemic-related government wage supports and higher operating expenses, Challenger said then. 

The company’s shares ended Monday at S$0.55, up 0.9 per cent or S$0.005.