Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Company in the news

A-Sonic Aerospace receives go-ahead to exit SGX Watch-list

The Edge Singapore
The Edge Singapore • 1 min read
A-Sonic Aerospace receives go-ahead to exit SGX Watch-list
The company's cash of $53.265 million exceeds its market cap of $47 million
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

A-Sonic Aerospace has received the go-ahead from the Singapore Exchange to exit the Watch-list, just over five years after it was included.

The removal will take effect on June 30.

The company, which is in both aviation and logistics, notes that its financial position has improved significantly.

Earnings for FY2021 ended Dec 2021 was $8.9 million, versus $8.7 million recorded in the preceding FY2020. Operating profit, excluding non-recurrent items, was $12.651 million and $2.345 million for FY2021 and FY2020 respectively.

Revenue in the same period was up 74.8% to a record of $617.3 million.

Its cash and equivalent, as at end Dec 31 2021, was $53.265 million, which exceeds its current market cap of $47 million, which, in turn, meets one of the minimum $40 million required of companies exiting the watch-list.

See also: Sembcorp issues $350 mil of guaranteed notes due 2036 at 3.65%

A-Sonic shares closed on June 29 at 67 cents, down 0.75% for the day and up 10.83% year to date.

Highlights

Re test Testing QA Spotlight
1000th issue

Re test Testing QA Spotlight

Get the latest news updates in your mailbox
Never miss out on important financial news and get daily updates today
×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.