SMI Vantage first announced its delisting from the Singapore Exchange(SGX) last August, after the SGX-ST rejected its application for a further extension of time to meet the requirements to be removed from the SGX watch-list.
SMI Vantage was rejected as there are no ‘extenuating reasons’ to grant a further extension of time.
“In coming to its decision, the SGX-ST had noted, among others, the company’s continuing net loss position after it was placed on the watch-list, as well as its low and decreasing market capitalisation which was at $13.86 million as at July 30,” it adds.
