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It is not failed listing, Pogjer. The board recommended not to proceed. It is the right decision because one of the Main Market listing requirements is 1bil market cap for the last 6 months.
the following two quarters performance will probably demonstrate whether the actions taken by the boss will be able to undo the damage seen in q4 report.
depending on whether the damage done is temporary or permanent, pogjer. high cogs/sga popped up recently which coincide with higher China segment. Could be "marketing spending" to secure the China deals and the logistics involved to fulfill the demand triggering the high cogs/sga? Temporary damage if it is purely "cost overrun" and can recover; margins will improve. Permanent damage if the margins reported since day one is incorrect; which is unlikely. Sfptech and UWC are the two darlings of precision machining and sheet metal fab company in the past; slightly different market segment if you will.
