The company has been on the SGX watchlist since 4 December 2019.

The Singapore Exchange Securities Trading (SGX-ST) has rejected SMI Vantage's application for an additional extension to fulfill the requirements for removal from the watchlist.

This marks the third extension request made by SMI Vantage, following the first and second applications dated 14 September 2022 and 30 June 2023, respectively.

On 1 August, SMI Vantage received a delisting notice from SGX-ST after it failed to demonstrate that it would be able to exit the watchlist by 31 July 2025.

Initially, SGX-ST required SMI Vantage to fulfill the requirements within 36 months from 4 December 2019 or by 2 December 2022.

In addition, SGX-ST said that the company's continuing net loss position after it was placed on the watchlist, as well as its low and decreasing market capitalisation which was at $S13.86m as of 30 July, prompted its decision to delist the company pursuant to Listing Rule 1315.