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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.