Plastoform calls for immediate trading suspension
MAINBOARD-listed Plastoform Holdings called for a trading suspension with immediate effect before the market opened on Thursday morning.
The board said it would "assess the group's ability to continue operating as a going concern" and will keep shareholders updated as and when there are material updates or development, the audio-speaker maker said in a bourse filing.
The suspension request was made in regard to Rule 1303(3)(c) of the Singapore Exchange Securities Trading (SGX-ST) listing manual.
Under this rule, a company's shares may be suspended when it is unable to continue as a going concern or unable to demonstrate to the bourse and its shareholders that it is able to do so. This includes a company being "unable to reasonably assess its financial position and inform the market accordingly".
Plastoform shares last traded at S$0.013 on March 25.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Roche cuts pipeline after research setbacks and sales drop
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
London stocks hit new record at open
Heineken sells more beer in Q1, sticks to outlook
US seeks 36 months’ jail for Binance founder Zhao
China’s Huawei launches new software brand for intelligent driving