News
RETAIL, STOCKS | Staff Reporter, Singapore
view(s)

TT International records three consecutive years of losses

It is at risk of being placed under the SGX-ST’s watchlist.

Consumer electronics retailer TT International has recorded three consecutive financial years of pre-tax losses, a filing with the Singapore Exchange (SGX) revealed.

Trading in the company’s securities on the Singapore Exchange Securities Trading (SGX-ST) has been voluntarily suspended by the company since August 2017.

Under the rules of SGX’s listing manual, the market regulator will place an issuer on the watchlist if the firm records pre-tax losses for the three most recently completed consecutive financial years, as well as an average daily market cap of less than $40m over the last six months.

“Investors should also note that pursuant to practice note 13.3 paragragph 2.1, the Exchange conducts quarterly reviews to identify issuers to be included on the watch list,” TT International added. The quarterly review takes place on the first market day of March, June, September and December of each year.

Six mainboard-listed firms were included on the watchlist on 6 June after all failed to have a volume-weighted average price of at least $0.20 per share. On 5 June, semiconductor equipment manufacturer ASTI Holdings, Raffles Infrastructure Holdings and engineering firm Mencast Holdings were also notified that they would be placed on the watchlist based on their pre-tax losses for the most recently completed consecutive financial years, as well as failure to have an average daily market capitalisation of $40m or more over the last six months.

Following the filings, the total number of companies joining the minimum trade price (MTP) watchlist was at 27.

Also read: Attilan Group receives delisting notice from SGX

Issuers placed on the watchlist have 36 months to be removed from the list. Failure to do so will result in the delisting of the company from the SGX-ST or suspension of the firm’s shares with a view to delist the company.  

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.