Notification of Inclusion on the Watch-list due to the Minimum Trading Price Entry Criterion With Effect From 5 June 2017/ 於2017年6月5日起按最低交易價准入標準 列入觀察名單之通知
The Board of Directors of Regal International Group Ltd. (the “Company”, and together with its subsidiaries, the “Group”) wishes to announce that the Singapore Exchange Limited (the “SGX”) has notified the Company that, pursuant to Listing Rule 1311(2), it would be placed on the watch-list due to the Minimum Trading Price (“MTP”) Entry Criterion with effect from 5 June 2017 specifically because the Company has recorded:
(i) a volume weighted average price of less than S$0.20 over the last 6 months; and
(ii) an average daily market capitalization of less than S$40 million over the last 6 months.
The Company must take active steps to meet the requirements of Listing Rule 1314(2) within 36 months from 5 June 2017, failing which SGX would delist the Company or suspend trading in the Company’s shares with a view to delist the Company. The Board would like to assure shareholders that the Company is exploring various strategies to comply with Listing Rule 1314(2) within the stipulated period, including reviewing the Company’s capital structure as well as improving the Company’s business activities.
Thus the Board would like to take this opportunity to highlight to its shareholders, that steps to improve the Company’s business activities had already commenced last year. This started with the disposal of the precision engineering business which is a legacy business inherited by the existing management team of the Group. Subsequent to the disposal of its legacy business in December 2016, the Company had recorded a profit before tax of approximately RM3.5 million from its core property development business for the financial year ended 31 December 2016 (“FY2016”), as compared to the pre-tax losses of RM71.3 million and RM12.9 million respectively for the financial years ended 31 December 2015 (“FY2015”) and 31 December 2014 (“FY2014”).
In addition, the Group also reported an overall RM3.2 million total comprehensive income for the first quarter ending 31 March 2017. The Board believes that the escalating financial performance will fortify shareholders’ and potential investors’ confidence in the Company which could eventually allow the Company to exit from the MTP watch-list.
The Company will continue to actively pursue all options to meeting the requirements of Listing Rule 1314(2) within 36 months from 5 June 2017 and will make further announcements to update shareholders pertaining to the above issue, as and when necessary and/or appropriate.
Regal International Group Ltd. (簡稱 “公司”及旗下所有子公司統稱“集團”) 的董事會 (簡稱 “董事會”) 茲公告待新加坡券交易所 (簡稱 “SGX”) 已予公司通知，依據上市規則第1311 (2) 條規，於2017年6月5日起按最低交易價(簡稱“MTP”) 准入標準將其列入觀察名單，主要因公司：
(i) 於過去6個月内的成交量加權平均價格低於S$0.20；以及
(ii) 於過去6個月内的每日平均市值低於S$40 百萬。
公司須於2017年6月5日起的36個月內積極採取措施，以滿足上市規則第1314(2)條規之設定，否則SGX將會勒令公司退市或暫停本公司股份交易，以期將本公司退市。董事會僅向股東們保證公司將就於規定期限內符合上市規則第1314(2)條規探討各項策略，包括審閱本公司的資本結構以及改善公司的業務活動。
因此，董事會欲借此機會向其股東們强調，改善公司營運業務的舉措在去年經已開始。這始端是從處置本集團現有管理團隊所繼承的非核心精密工程業務開始的。對比截至2015年12月31日之財政年度(簡稱“FY2015”)與2014年12月31日之財政年度(簡稱“FY2014”)的RM71.3百萬及RM12.9百萬稅前虧損，公司於2016年12月份自其非核心業務撤資後，因其核心的產業開發業務在截至2016年12月31日之財政年度(簡稱“FY2016”)内計入了RM3.5百萬的稅前盈利。
除此之外，集團於截至2017年3月31日的第一季度亦呈報了RM3.2百萬的綜合收益總額。董事會相信，如此節節攀升的財務表現將使股東們及投資人對公司信心大增，促使公司早日脫離MTP的觀察名單。
本公司將持續自2017年6月5日起的36個月內積極尋求能達至上市規則第1314(2)條規的所有可行方案，並將視其必要與適當性作進一步公告，通告股東們。