No Signboard Holdings

[weijian]

there's another use for listed company shell,

An RTO is also sometimes referred to as a reverse merger or a reverse IPO.

A listed shelf is only useful if the company itself is not in a net liability position.

From its balance sheet for FY21, write down its intangible asset of 500k and it is in a net liability position. If the current loans do not save it (and we should know in ~1 years' time), the company is insolvent. Liquidators will wind up the company and its listing status can't be monetized at all.

There is a difference between the Companies Act and Listing Act.

NSB FY21: https://links.sgx.com/FileOpen/Interim-F...eID=692545