Singapore “Flyer” of the Week: Metech International

singapore flyer Metech International Limited (SGX: QG1) flew 61.9% so far this week to clinch the “Singapore “Flyer” of the Week” accolade. The shares closed at $0.034, at the time of writing.

Mectech provides services for recycling and processing electronic components and products, so as to extract ferrous and non-ferrous metals and plastics. The company was placed on the Singapore Exchange (SGX) watch-list on 6th September 2011 and was given two years, till 6 September 2013, to meet specific requirements to be removed from the watch-list.

A company is placed on the watch-list if it records “pre-tax losses for the three most recently completed consecutive financial years (based on the latest announced full year consolidated accounts, excluding exceptional or non-recurrent income and extraordinary items)” and has “an average daily market capitalisation of less than $40 million over the last 120 market days on which trading was not suspended or halted”.

On 4th September 2013, the company announced that it had submitted an application to the SGX to extend the deadline to 30 November 2013 as the company has fulfilled the requirements specified to be removed from the watch-list.

The company is currently trading at a PE of 43.6 and it does not dish out any dividends.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.