JBDI Holdings Limited has regained compliance with Nasdaq listing requirements after fulfilling filing obligations.
Quiver AI Summary
JBDI Holdings Limited announced that it has regained compliance with Nasdaq's periodic filing requirements, as confirmed by a notice from Nasdaq on June 9, 2025. The company is now in good standing with Nasdaq Capital Market’s listing requirements following the filing of its unaudited financial statements for the six-month periods ending November 30, 2024, and 2023. CEO Lim Chwee Poh expressed satisfaction in regaining compliance, allowing the company to concentrate on enhancing shareholder value. JBDI specializes in environmentally friendly products and services related to the revitalization and recycling of containers in Singapore and Southeast Asia, boasting nearly 40 years of industry experience.
Potential Positives
- JBDI Holdings Limited has regained compliance with Nasdaq's periodic filing requirements, enhancing its standing and stability within the financial market.
- The company can now shift its focus on long-term value creation for shareholders following the successful filing of its financial statements.
- The announcement showcases JBDI's commitment to transparency and accountability, which can foster investor confidence.
- By emphasizing its mission of environmental responsibility, the company reinforces its market position as a leader in sustainable practices in the industry.
Potential Negatives
- The announcement of regaining compliance with Nasdaq's periodic filing requirement indicates prior non-compliance, which may raise concerns about the company's previous financial management and reporting practices.
- The need for the company to emphasize its compliance status may signal to investors that it has experienced operational or regulatory challenges, potentially leading to a lack of investor confidence.
FAQ
What recent announcement did JBDI Holdings make?
JBDI Holdings announced its compliance with Nasdaq's periodic filing requirement as of June 9, 2025.
How did JBDI Holdings regain Nasdaq compliance?
The company filed its unaudited condensed consolidated financial statements on June 5, 2025, fulfilling the requirements.
Who is the CEO of JBDI Holdings Limited?
Mr. Lim Chwee Poh is the Chief Executive Officer of JBDI Holdings Limited.
What services does JBDI Holdings provide?
JBDI Holdings specializes in revitalization, reconditioning, and recycling of drums and related containers across Southeast Asia.
What is JBDI Holdings' mission?
JBDI Holdings aims to help customers achieve zero environmental impact while optimizing resource use and reducing costs.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
SINGAPORE, June 09, 2025 (GLOBE NEWSWIRE) -- JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI), today announced that it has received notice (the “Notice”) from the Nasdaq Stock Market ("Nasdaq") on June 9, 2025 informing the Company that it has regained compliance with the periodic filing requirement under Nasdaq Listing Rule 5250(c)(1), and that the Company was therefore in compliance with the Nasdaq Capital Market’s listing requirements.
On June 5, 2025, the Company filed with the Securities and Exchange Commission under cover of Form 6-K its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024 and 2023.
“We are pleased to have regained full compliance with Nasdaq's listing requirements. With our periodic filings now current, we can focus our full attention on delivering long-term value to our shareholders,” stated Mr. Lim Chwee Poh, the Chief Executive Officer of JBDI Holdings Limited.
About JBDI Holdings Limited
JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and across Southeast Asia. With nearly four decades of industry experience, JBDI Holdings has established a strong reputation for quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services. Our mission is to help our customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs. For more information, please visit http://jbdi.barrels.com.sg/
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors,” may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:
[email protected]
Company Contact:
Zhaorong Liang
Tel: +65 6861 4150
Email:
[email protected]