The Singapore Exchange has rejected New Silkroutes' (SGX:BMT) proposal to resume training due to concerns over the company's financial stability, a filing with the Singapore bourse said on Thursday.
The company had submitted a proposal to resume trading in June and has been suspended from trading since Nov. 2021.
The SGX observed that the company remain in a net current liability statement and has failed to submit an independent review report on its financial statements and cash-flow projections.
The group will now be required to submit a revised proposal by Dec. 31.
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