New Silkroutes Group Limited (SG:BMT) has released an update.
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New Silkroutes Group Limited has announced that its proposal to resume trading was rejected by SGX-ST due to several issues highlighted by the exchange and the company’s auditors, including financial concerns and failure to meet certain listing requirements. The auditors issued a disclaimer opinion on the group’s financial statements, and the company faces a net current liability position and projected net cash outflow. Additionally, there are concerns regarding the funding of future upgrade works for their acquisition, Hequ Yuanyang Industrial Co., Ltd.
For further insights into SG:BMT stock, check out TipRanks’ Stock Analysis page.
