Reasons for SC Rejection of IPO Applications 2011 (For Q3 2011)
From 1 July – 30 September 2011

  Applicant Reason(s) for Rejection
  Main Market (MM)  
1. Company 1/11/MM
  • The applicant recorded negative cash flows from operating activities for financial years under review.
  • The above constituted a non-compliance with Paragraph 5.08 (b) of SC’s Equity Guidelines.
2. Company 2/11/MM
  • Concerns over applicant’s compliance with Paragraph 5.08 (a) of the SC’s Equity Guidelines, which states that the applicant must have a healthy financial position with sufficient level of working capital for at least 12 months from the date of the listing prospectus.
3. Company 3/11/MM
  • Application rejected due to corporate governance concerns.