While the company has met certain conditions to exit the watchlist, including achieving an average daily market capitalisation of $40 million or more over the last six months, its auditors, Foo Kon Tan has stated that the company has a “material uncertainty that may cast significant doubt about the [company’s] ability to continue as a going concern”.
Shares in Parkson Retail Asia (SGX:O9E
) closed 0.7 cents higher or 13.21% up at 6 cents on Dec 4 after the company announced that the Singapore Exchange (SGX:S68) Securities Trading Limited (SGX-ST) had given the former its approval to extend its cure period to Dec 2, 2024.
The cure period is for the company to meet the listing requirements for its removal from the exchange’s watchlist.
