GALLANT Venture 5IG and Pacific Radiance T8V h : T8V 0%ave given notice that they recorded 3 consecutive years of pre-tax losses based on their audited full-year consolidated accounts.

In a bourse filing on Wednesday (Apr 13), Gallant Venture said its 6-month average daily market capitalisation is S$701 million as at Apr 12, 2022. This means the company still meet the financial entry criteria to avoid being placed on the Singapore Exchange's (SGX) watch list.

Companies are placed on the SGX watch list if they record losses for the 3 latest financial years and have an average daily market cap of under S$40 million over the last 6 months.

Gallant Venture, a developer, master planner and manager for industrial parks and resorts in Batam and Bintan, on Feb 25 posted a net loss of S$32.3 million for the 6 months ended Dec 31, 2021, narrowing from a loss of S$34.3 million in the year-ago period.

For the full year, Gallant Venture's net loss narrowed to S$57.5 million, from the S$687 million recorded in FY2020. Revenue, on a continuing operations basis, stood at S$145.1 million for the full-year period, up 5 per cent from the S$138.2 million recorded the previous year.

Shares of mainboard-listed Gallant Venture closed 0.8 per cent or S$0.001 higher at S$0.129 on Tuesday.

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For the 6 months to its suspension, in February 2018, Pacific Radiance had an average daily market capitalisation of S$74.3 million, as at Feb 22, 2018.

The offshore marine-services provider had voluntarily suspended the trading of its shares on Feb 28, 2018, and said it would continue to pursue completing its debt restructuring after noteholders voted down a plan.

On Feb 24, 2022, Pacific Radiance posted a Q4 2021 net loss of US$3.5 million on a continuing operations basis, narrowing from a loss of US$5.2 million in Q4 2020. Revenue from continuing operations was US$2.1 million, 22.2 per cent lower than the S$2.7 million recorded in the year before.