YOMA Strategic has given notice that it has recorded three consecutive years of losses.

Based on audited full-year consolidated accounts, the group recorded pre-tax losses for the last three consecutive financial years, it said in a bourse filing late on Thursday (Nov 9).

However, Yoma Strategic will not be placed on the Singapore Exchange’s (SGX) watch list, as its six-month average daily market cap as at Nov 9 was S$200.3 million.

According to rules under SGX’s listing manual, companies will be placed on the watch list if they record pre-tax losses for the three latest consecutive financial years, and have an average daily market cap of less than S$40 million over the last six months.

Yoma Strategic had released its first-half FY2024 results earlier on Thursday. It narrowed its net loss to US$2.5 million for the six months ended September, compared with a net loss of US$8.5 million posted in the corresponding year-ago period.

The group’s revenue jumped 172.8 per cent year on year to US$111.6 million from US$40.9 million, after it included its subsidiary Wave Money in its financials with effect from December 2022.

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Yoma Strategic said it will make an immediate announcement should it be notified by SGX that it will be placed on the watch list. SGX conducts quarterly reviews to identify companies to be included on the list.

Its shares closed 3.9 per cent or S$0.003 higher at S$0.08 on Thursday.