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A-Sonic removed from SGX watch-list

A-Sonic removed from SGX watch-list

SINGAPORE: A-Sonic Aerospace has been removed from the Singapore Exchange’s (SGX) watch-list after the firm posted net profits of US$1.43 million in the first quarter of this year.

A-Sonic, which operates logistics and aerospace component distributorships, was subsequently removed from the watch-list on May 20 pursuant to SGX listing rules.

The firm had been placed on SGX’s watch-list since September last year for reporting three straight years of losses.

The company then posted a strong full-year net profit of US$11.2 million in the previous year ended December 31, indicating A-Sonic’s recovery.

Companies who fail to meet SGX’s criteria and requirements will be placed on the watch-list.

To be removed from the watch-list, the company has to report a pre-tax profit or have a minimum market capitalisation of S$40 million.

Adapted from: CNA (By Amanda Feng)

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