The Place Holdings gets extension to meet financial criteria for SGX watch-list exit

MAINBOARD-LISTED The Place Holdings has been given another month to meet the financial exit criteria to leave the bourse watch-list, it said on Sunday.

The media company had sought the one-month extension to finalise its audited, consolidated financial statements for the full year to Dec 31, 2017.

It now has until April 4 to satisfy the requirements.

The criteria are: recording consolidated pre-tax profit for the most recently completed financial year, based on the latest full-year consolidated audited accounts; and having an average daily market capitalisation of S$40 million or more over the last six months.

The board said in its announcement on the Singapore Exchange website that shareholders should be reminded that the bourse operator "reserves the right to amend/vary its decision, and such decision is subject to changes in the policies".

The Place, which used to trade as Eucon Holding, was put on the Singapore Exchange's watch-list in 2014. It was removed from the bourse operator's minimum trading price watch-list on June 5, 2017.

It most recently reported a profit before tax of S$723,000 and a net profit of S$270,000 for 2017, against a restated net loss of S$6.5 million the year before.

The Place last closed on March 2 at 3.9 Singapore cents, with a market capitalisation of S$229.35 million.