C&G EP requests Finance Minister to allow it to stay listed

C&G Environmental Protection Holdings has made a request to the Minister for Finance to allow it to stay listed,"for the benefit of more than 1,900 Singaporean shareholders".

The cash firm's appeals to the Singapore Exchange in November and December against delisting have both been declined, announced the mainboard-listed company in a regulatory filing on Thursday. The company said it was informed on Dec 10 that its second appeal to the bourse operator against the Nov 5 delisting notice had been rejected. Executive chairman Lam Chik Tsan then wrote to the Minister for Finance on Dec 11 and requested the minister"to look into the matter for the benefit of more than 1,900 Singaporean shareholders".

Mr Lam wrote:"If we complete the RTO , their losses can be reduced since the shares will have value if the company retains its listing status."Listing rules dictate that a company upon becoming a cash company will be delisted, if it is unable to meet the requirements for a new listing within 12 months. C&G had, upon disposing two businesses on Dec 30, 2016, become a cash company.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Catch DJs Tiesto and Don Diablo at Sentosa's Legacy dance music fest and an epicurean market at MBS: Life Picks Ep 61 - ST & BT Podcasts - Omny.fm
Source: The Straits Times - 🏆 8. / 63 Read more »

Aramco IPO to help Saudi economy shift from oil: finance ministerSaudi Aramco's listing will boost the kingdom's efforts to diversify from oil as the bulk of proceeds will be injected in domestic projects, while ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Malaysia to continue pursuing legal action against Goldman Sachs over 1MDB: Finance ministerPUTRAJAYA: Malaysia will continue pursuing legal action against Goldman Sachs over the 1Malaysia Development Bhd (1MDB) case although the company ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Hong Kong's role in global finance remains intact despite months of protests: FitchBENGALURU (REUTERS) - Hong Kong's role in global finance is intact, with little evidence to suggest recent protests and social unrest in the city have adversely impacted that role, global credit rating agency Fitch Ratings said on Thursday (Dec 12).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »