Mirach Energy

MIRACH Energy is seeking a further extension until June 5, 2020 to exit the Singapore Exchange (SGX) watch-list, the oil and gas company said in a statement on Monday. It had previously been given until Feb 28, 2019 to meet financial criteria that would allow it to exit the bourse's watch-list.

The company said it has been able to streamline its existing oil and gas business segment and operations to improve the group's cash flow, while also diversifying into new businesses to acquire new revenue streams. Its efforts resulted in a consolidated pre-tax profit of US$766,000 for the financial year ended Dec 31, 2018, compared to a previous pre-tax loss of US$9.6 million.