Except Trek 2000 International which was on the list with effect from June 5, the rest of the companies were placed effectively on June 6.

Following this, there will be a total of 35 securities placed on the SGX-ST's watch list. As at end-March, the SGX-ST had a total of 646 securities and a total of 645 securities as at the end of April in 2023.

For a company to be placed on SGX-ST's watch-list, it would have to have suffered from three straight years of financial losses.

After being put on the watch-list, the companies must now take steps to exit the list within 36 months from June 5 and 6 respectively. They will be able to apply to be removed from the list if they record consolidated pre-tax profits for their latest financial years. They should each also have an average daily market capitalisation of $40 million or more over the past six months. Should the companies fail to exit the list within the stipulated period, they would either be delisted or the trading of their shares would be suspended.

As required by rule 1313(2), the companies will have to provide quarterly updates on their efforts and progress made in meeting the list’s exit criteria. Any material developments that occur between the quarterly updates will also have to be announced.

See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/news/company-news/wilton-resources-disposes-745714286-shares-subsidiary-pt-wilton-makmur-indonesia?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Wilton Resources disposes of 745,714,286 shares in subsidiary PT Wilton Makmur Indonesia for $2.7 mil</a>

In their respective statements, the companies said that it will be business as usual for the company and that trading in their securities will also continue as per usual. They add that they will endeavour to comply with the financial exit criteria within 36 months from their date of entry.

These are the market capitalisations of all 10 companies as at June 5:

<ul><li>Amos Group - $24.8 million at 11.9 cents per share</li><li>Beng Kuang Marine - $16.5 million at 8.3 cents per share</li><li>British and Malayan Holdings - $25.9 million at $2.96 per share</li><li>CH Offshore - $38.8 million at 5.5 cents per share</li><li>Datapulse Technology - $21.9 million at 10 cents per share</li><li>Intraco Limited - $24.7 million at 22 cents per share</li><li>IPC Corporation - $8.5 million at 10 cents per share</li><li>Jadason Enterprises - $11.6 million at 1.6 cents per share</li><li>Jasper Investments - $13.1 million at 0.3 cents per share</li><li>Manufacturing Integration Technology - $9.6 million at 0.4 cents per share</li><li>Trek 2000 International - $19.7 million at 6.3 cents per share.</li></ul>

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