Lafe Corp on SGX watch list

LAFE Corporation, whose operations comprise property investment, property development, property agency and consultancy services, said on Friday that it has been placed on the Singapore Exchange watch-list with effect from Friday.

This is following the notice of three consecutive years' losses released by the company on April 6, 2016, said Lafe.

The company will have to fulfil the requirements under Rule 1314 of the SGX-ST Listing Manual for its removal from the watch-list within 36 months from Friday, failing which the bourse would delist the company or suspend trading of the company's shares with a view to delisting the company, Lafe said.

It added that the group's business shall continue as usual, and that trading in its securities will also continue unless a trading halt or suspension is effected.

Lafe had, as at 10.45 am, requested for the lifting of a trading halt, which it had earlier asked for, shortly after the market opened on Friday.