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Singapore bourse places Debao Property, China Yuanbang on watch list

Debao Property Development Ltd. and China Yuanbang Property Holdings Ltd. are being placed on the Singapore stock exchange's watch list for not meeting the register's minimum trading price entry criterion.

Under Rule 1311(2) of the Singapore Exchange Securities Trading Ltd.'s listing manual, companies will be admitted to its watch list if its six-month volume-weighted average price is less than 20 Singapore cents per share and if average daily market capitalization is less than S$40 million.

Debao Property and China Yuanbang will be included on the list beginning June 5. They will remain on the watch list for 36 months or until they meet the minimum trading price criterion. The companies, both of which develop properties in China, will be assessed for removal from the catalog after spending at least six months as watch-listed entities. If they fail to satisfy the conditions of the exit criterion, the bourse may either remove them from its official list or suspend the trading of their securities on the bourse.

China Yuanbang advised its investors to exercise caution when dealing with its shares, while Debao Property assured its shareholders and business partners that its business and trading will continue as usual in spite of its admission to the watch list.

As of June 4, US$1 was equivalent to S$1.34.