Rotol Singapore said the Singapore Exchange has rejected the company’s request to be given a 12-month extension to improve its financials and be removed from the watch-list.
In its letter to Rotol, SGX noted that the company’s pre-tax profit of $3.9 million for the financial year ended 31 March 2010 included non-recurrent income, which ought to be excluded according to Rule 1314(1) of the Listing Manual.