Liongold (SG:A78) has released an update.
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Shen Yao Holdings Limited has been designated as a cash company by the Singapore Exchange due to its lack of operating business and recurring revenue, effective March 22, 2024. Consequently, their shares may be suspended from trading until a new viable business is established. The company is also applying for a waiver to avoid placing 90% of its cash in escrow, as it currently operates with limited cash flow and is undergoing voluntary trading suspension since March 23, 2023, amid debt restructuring efforts.
For further insights into SG:A78 stock, check out TipRanks’ Stock Analysis page.