SATS has given notice that it has recorded pre-tax losses for the three most recently completed straight financial years.
For the FY2022/FY2023 ended March 31, SATS reported a loss of $26.5 million. The group’s profit for the year stood at $38.6 million.
Under the rules of the listing manual, SGX will place issuers under its watchlist if they record pre-tax losses for the three most recently completed consecutive financial years and have an average daily market capitalisation of less than $40 million over the past six months.
As at Nov 23, SATS’ six-month average market capitalisation is at $3.88 billion. The group's market capitalisation as at Nov 26 is at $4.08 billion.
Shares in SATS closed 3 cents lower or 1.1% down at $2.71 on Nov 24.
