Addvalue Technologies says that it is no longer subject to the financial watch-list regime by the Singapore Exchange Securities Trading Limited on Oct 29.
This is a result of the removal of the watch-list regime by the SGX RegCo in view of unintended negative effects on business confidence and access to financing by the issuers.
As of last count, there were 28 companies in the watch-list.
Nonetheless, as consulted, SGX RegCo will require that issuers disclose their third and subsequent consecutive financial year of losses.
Addvalue has been placed on the financial watch-list since Dec 5, 2023. It subsequently achieved consecutive profitability in FY2024 and FY2024 and says that without the RegCo’s announcement, it would have fulfilled the criteria of a watch-list exit by its own merits by the end of the six month review period on Dec 1, 2025.
Shares in Addvalue Technologies closed 0.2 cents lower or 4.762% down at 4 cents on Oct 30.
