Compact Metal Industries seeks removal from watch-list

COMPACT Metal Industries has submitted an application to the Singapore Exchange for its removal from the watch-list.

Citing its full-year financial results announced on Feb 26, the aluminium product supplier said that it has demonstrated the ability to satisfy the requirements of SGX listing.

For the financial year ended Dec 31, 2017, its pre-tax profit was S$3.99 million. Its average six-month daily market capitalisation is also in excess of the regulatory requirement of S$40 million.

Compact Metal Industries was placed on the watch-list on Mar 4, 2015.

It was granted a two-year until Mar 3, 2017 to exit the watch-list and this was subsequently extended to Mar 3, 2018.