Why some SGX small-caps survive the watch list – and others fail
Data from Singapore’s ‘watch-list era’ shows the dos and don’ts of pulling off a successful corporate comeback
WHEN a Singapore Exchange (SGX)-listed small-cap landed on the watch list, it faced a stark reality: Turn things around fast, or face delisting.
While the SGX phased out the watch list mechanism in 2025, the era offers enduring lessons on corporate comebacks. Unlike larger firms with deeper pockets and longer runways, small-cap companies were constrained to act fast with limited resources.
Faced with declining profitability, a faltering share price and the threat of delisting, how did some firms engineer a turnaround while others failed?
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