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Six more firms to be placed on SGX watch-list from June 6

SIX more mainboard-listed companies have announced they will be included on the Singapore Exchange’s (SGX) watch list with effect from June 6, with one of them due to the financial entry criteria, and the other five not meeting minimum trading price (MTP) requirements.

Late on Wednesday night, ASTI Holdings announced it would be placed on the financial watch-list because it had pre-tax losses for its three most recently completed consecutive financial years, and failed to maintain an average daily market capitalisation of at least S$40 million over the last six months.

On Thursday morning, Tye Soon, Anchun International Holdings, Design Studio Group, Dynamic Colours and First Ship Lease Trust’s manager made regulatory filings announcing their inclusion to the MTP watch-list.

These five firms are joining the watch list under the MTP criteria, which means they had a volume-weighted average price of less than S$0.20 per share and an average daily market capitalisation of less than S$40 million over the last six months.

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This brings the total number of companies joining the MTP watch-list to 22, after SGX’s latest half-yearly review.

The companies notified shareholders and business partners that their operations are continuing as normal.

Earlier on Wednesday, six companies announced their inclusion on the MTP watch-list with effect from June 6: Advanced Holdings, China Jishan Holdings, China Mining International, Kencana Agri, PSL Holdings and Sakae Holdings.

This was after eight firms had announced similarly on Tuesday that they will be added to the watch list on the same date under the MTP criteria. One of them, United Food Holdings, was on the watch list due to both MTP and financial criteria.

Separately, also joining the watch list under the financial entry criteria with effect from June 6 are Raffles Infrastructure Holdings and Mencast Holdings. They announced their inclusion on Wednesday evening after the market closed, before ASTI's filing.

If companies do not meet the relevant requirements to exit the SGX watch-list within 36 months, they may be delisted or have their shares suspended.