GSH (SGX:BDX) has reported three consecutive years of pre-tax losses for its three most recently completed consecutive financial years, according to a Tuesday filing on the Singapore Exchange.

However, as its latest six-month average daily market capitalization as of April 6 stood at SG$424.9 million, it avoided being placed on the SGX watch-list.

Under Singapore Exchange rules, companies are placed on a watch-list if they record pre-tax losses for three straight years and have an average daily market capitalization below SG$40 million over the past six months.

Shares of the company closed nearly 3% higher on Tuesday.