The Singapore Exchange Securities Trading deemed Incredible Holdings (SGX:RDR) as a cash company, effective May 28, with trading suspended until it acquires a new business in line with the SGX-ST's requirements, according to a Friday bourse filing.
Under the rules, 90% of the company's cash and short date securities will be opened with and operated by an escrow agent, pending the satisfaction of regulatory requirements.
Meanwhile, the company, which is not generating revenue at the moment, has been instructed to provide a monthly valuation of its assets and financial dealings.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments