SMI Vantage (SGX:Y45) responded to questions from the Securities Investors Association (Singapore) regarding its delisting and business diversification efforts, according to a Monday filing on the Singapore Exchange.
The company, placed on SGX's watchlist since December 2019, cited challenges from the COVID-19 pandemic and Myanmar's political situation, which slowed revenue recovery.
The board unanimously rejected liquidation and the need for an independent financial adviser, citing limited financial resources.
The company said it would comply with Singapore's Companies Act and maintain shareholder communications post-delisting even.
SMI Vantage also defended its unwinding of the Provino acquisition, denying claims of preferential treatment.
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