Enviro-Hub Holdings to leave SGX's financial watch-list

MAINBOARD-LISTED Enviro-Hub Holdings will leave the bourse watch-list on Friday under the financial exit criteria, the board said after trading hours on Thursday.

It was put on notice by the Singapore Exchange (SGX) in December 2018, after missing both the financial results and minimum trading price requirements.

Singapore-listed companies cannot have pre-tax losses for three straight years or let their six-month average market value fall below S$40 million. They face delisting if they do not fix these issues within three years of joining the watch-list.

The board said that it has got an in-principle approval from the bourse operator to be removed from the watch-list, but added that shareholders should note that the SGX reserves the right to amend or vary its decision and policies.

Enviro-Hub most recently turned in a fourth-quarter net profit of S$2.5 million for the three months to Dec 31, according to results released in February.

The counter closed down 0.4 Singapore cent or 13.33 per cent at 2.6 Singapore cents on Thursday before the latest announcement, which puts its market value at roughly S$26.8 million.