SGX watch list: Is it fair to penalise firms that fall short only on market cap?
AMID the slew of corporate results and other regulatory filings this week, there was one unusual announcement (or should it be pleading?) by a company on the Singapore Exchange's watch list.
A-Sonic Aerospace, which is engaged in aviation parts supplies and logistics supply chain management, wrote a two-page note to the SGX highlighting the fact that it was now profitable and that the volume-weighted average price (VWAP) of its stock for the last six months had broken above the SGX watch list mandated Minimum Trading Price (MTP) of 20 cents.
The company also released its results for the nine-months to end September 2019, which showed a net attributable profit of US$1.51 million. For the 12-months to end December 2018, A-Sonic's net profit was US$1.48 million. So the compan…
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