Anchor Resources debuts on Catalist at 18.2 Singapore cents

ANCHOR Resources Limited debuted on the Catalist on Friday at 18.2 Singapore cents, bringing the total number of companies on Catalist to 177, with a combined market capitalisation of S$9 billion. Its listing brings the number of mineral, oil and gas companies listed on the Singapore Exchange to 28, with a combined market capitalisation of S$2.3 billion.

Headquartered in Malaysia, Anchor Resources is engaged in the business of exploration, mining and production of gold for sale in Malaysia. It holds concession rights to two key gold mining areas - Lubuk Mandi Mine and Bukit Panji Property in Terengganu, on the eastern gold belt of Peninsular Malaysia.

Lim Chiau Woei, founder and managing director of Anchor Resources, said: "The successful listing marks a significant milestone for Anchor Resources, and an endorsement and a vote of confidence in our business and long-term growth. Demand for gold is expected to be steady and we look forward to expanding our capabilities to ride on such demand and create value for shareholders."