Sevak to exit SGX watch-list
MAINBOARD-LISTED Sevak will exit the Singapore Exchange's watch-list with effect from May 31, the IT solutions company announced on Thursday night.
Sevak had applied for removal from the watch-list on the basis that it had met requirements under the financial exit criteria of Rule 1314 (1) of the listing manual. It said its application received in principle approval on May 30, subject to an immediate announcement being made.
After three straight years of pre-tax losses, which triggered its entry into the watch-list, Sevak posted a net profit of S$3.7 million for the year ended Dec 31, 2018.
Sevak shares closed up eight Singapore cents or 2.29 per cent at S$3.58 on Thursday before the news.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly