Incredible Holdings Deemed as Cash Company by Singapore Exchange

MT Newswires

06/01

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.

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