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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.

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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.