Parkson Retail Asia exits SGX watchlist

The company has met the requirements of the listing Rule 1314.

Parkson Retail Asia announced that it has exited the Singapore Exchange (SGX) watchlist, following the receipt of an approval in principle letter from Singapore Exchange Securities Trading Limited (SGX-ST) for its exit application on 3 October.

The SGX-ST has informed the company that it will be removed from the watchlist effective 4 October.

The company was placed on the watchlist in December 2019 after reporting losses for three consecutive years.

On 16 August, Parkson Retail Asia submitted the exit application to SGX after meeting the SGX listing Rule 1314, which requires an average daily market capitalisation of $40m or more over the last six months.

Parkson Retail Asia advises shareholders and potential investors to exercise caution when dealing in the shares of the company and consult their advisers when in doubt.