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Hot stock: Swee Hong falls on watch-list entry
SHARES of construction firm Swee Hong fell on Monday, as it was placed on Singapore Exchange's watch-list for failing to meet the exchange's minimum continuing criteria. The stock fell 8.33 per cent or 0.1 Singapore cent to S$0.011. It was among the most actively traded stock, with some six million shares changing hands as at 10.09am.
The company has recorded pre-tax losses for three straight financial years. It has also had an average daily market capitalisation of less than S$40 million over the last six months.
Swee Hong has 36 months from Monday to take "active steps" to restore its financial health and meet the conditions needed to get itself off the watch-list.