SINGAPORE -- The Singapore Exchange has issued a delisting notice to SMT Holdings, which despite its financial turnaround hasn't been able to satisfy the Exchange's rules.

The Exchange said the company has failed to comply with a rule for its controlling shareholders to provide a reasonable exit offer to shareholders.

The Singapore Exchange placed the company on its watch list in June 2011, at which point SMT Holdings had 24 months to meet the Exchange's requirement. The Exchange turned down a company request last June for an extension.

Following a 2012 bankruptcy filing, SMT Holdings named a new executive director and has reversed course, turning in several straight profitable quarters.

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