Grand Banks sets profit course to exit SGX watch-list

GRAND Banks Yachts, in choppy waters with the Singapore Exchange (SGX) for almost two years, is now on course to calmer seas.

The Singapore-based manufacturer of luxury motor yachts, which has been placed by SGX on its watch-list, has made significant progress in meeting the criteria set by the regulator to be taken off this list.

On the list since Dec 5, 2011, Grand Banks was told that it had to meet the criteria of $40 million in market capitalisation and achieve pre-tax profits within a two-year deadline or face delistment.