Ten-League International Holdings Limited Announces Receipt of Nasdaq Staff Delisting Determination and Plans to Appeal
Rhea-AI Summary
Ten-League International Holdings (Nasdaq: TLIH) received a Nasdaq Staff Determination on March 10, 2026, finding non-compliance with the $1.00 minimum bid price rule and proposing delisting. The company will timely request a hearing before an independent Panel, keep trading pending the hearing, and submit a plan and exception request under Rule 5815.
There is no assurance the Panel will accept the plan or grant an exception; the company reported only 13 consecutive trading days above $1 after its July 8, 2025 IPO and was not eligible for a second 180-day cure period.
Positive
- Hearing request automatically stays any suspension or delisting action
- Company’s securities will continue trading normally on Nasdaq pending Panel decision
- Plan to regain compliance and exception request will be submitted to the Panel
Negative
- Nasdaq Staff determined TLIH is non-compliant with the $1.00 minimum bid price rule
- Company not eligible for a second 180-day cure period and faces delisting
- Company’s closing bid price exceeded $1 for only 13 consecutive trading days after IPO
Key Figures
Market Reality Check
Peers on Argus
TLIH was down 1.61% while momentum-flagged peers BURU and WXM showed upward moves, indicating the delisting notice impact is stock-specific rather than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 24 | FY25 guidance | Positive | +37.7% | Issued FY 2025 guidance projecting strong revenue, net income and EPS growth. |
| Dec 19 | Project handover | Positive | +6.0% | Completed handover of hydraulic grabs for Singapore’s Cross Island Line project. |
| Nov 14 | New PSA order | Positive | -1.1% | Won order for 30 battery electric terminal prime movers from PSA Singapore. |
| Sep 30 | H1 2025 earnings | Positive | +26.8% | Reported strong H1 2025 revenue, margin expansion and net income growth. |
TLIH has generally reacted positively to strong financial and operational updates, with three prior news events showing gains and one operational win seeing a mild negative reaction.
Over the last six months, Ten-League has highlighted growth and infrastructure exposure. H1 2025 results on Sep 30, 2025 showed strong revenue and profit expansion, and a new PSA Singapore order on Nov 14, 2025 expanded its port electrification role. A project handover announcement on Dec 19, 2025 reinforced its Singapore presence, while FY 2025 guidance on Feb 24, 2026 projected robust net revenue and EPS growth. Against this growth backdrop, today’s Nasdaq minimum bid price non-compliance notice introduces a listing-status overhang.
Market Pulse Summary
This announcement details that Nasdaq staff issued a delisting determination due to failure to meet the $1.00 minimum bid price for the required 30 consecutive business days, after a 180-day cure period ending March 9, 2026. The company plans to request a hearing and submit a compliance plan, but explicitly notes there is no assurance the Panel will grant an exception or that any plan, if accepted, will succeed.
Key Terms
minimum bid price rule regulatory
hearing panel regulatory
AI-generated analysis. Not financial advice.
SINGAPORE, March 16, 2026 (GLOBE NEWSWIRE) -- Ten-League International Holdings Limited (Nasdaq: TLIH) (the “Company” or “Ten-League”), a Singapore-based provider of turnkey project solutions, today announced that, on March 10, 2026, it received a Staff Determination from the Staff of the Nasdaq Listing Qualifications Department (the “Staff”).
This Staff Determination stated that the Nasdaq Staff has determined that the Company’s securities will be subject to delisting from The Nasdaq Capital Market as a result of the Company’s non-compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”), which requires primary securities listed on The Nasdaq Capital Market to maintain a minimum bid price of at least
The hearing request will automatically stay any suspension or delisting action pending the hearing and the issuance of a Panel decision following the hearing. The Company’s securities will continue to trade in the normal manner on The Nasdaq Capital Market under the symbol “TLIH” pending the issuance of the Panel decision following the hearing. Per Listing Rule 5815(a)(5), the Company will submit to the Panel a plan to regain compliance, and request that the Panel grant an exception to the listing standards for a limited time period, as permitted by Rule 5815(c)(1)(A). There can be no assurance, however, that the Panel will accept the Company’s plan to regain compliance and/or grant the requested exception, nor can there be any assurance that such plan will be successful if brought into effect.
The Company furnishes this announcement to satisfy its obligation under Listing Rule 5810(b) to make public disclosure of the subject deficiency and of the Staff Determination within four business days thereof.
About Ten-League International Holdings Limited
Ten-League International Holdings Limited is a Singapore-based provider of turnkey project solutions. The Company’s business primarily consists of sales of heavy equipment and parts, heavy equipment rental and provision of engineering consultancy services to port, construction, civil engineering and underground foundation industries. The equipment is organized into four categories based on their functions and application scenarios: foundation equipment, hoist equipment, excavation equipment and port machinery. The Company also provides value-added engineering solutions under engineering consultancy services with the aim to address potential safety issues, enhance reliability and productivity and allow for customers to evaluate the performance of the equipment, the quality of the work completed and the progress of their projects. Ten-League’s mission is to provide high-quality equipment, value-added engineering solutions as well as maintenance and repair through continuous adaptation and application of new technologies. For more information, please visit the Company’s website: https://ir.ten-league.com.sg/.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company’s Annual Reports on Form 20-F, as may be supplemented or amended by the Company’s Reports of a Foreign Private Issuer on Form 6-K.
For more information, please contact:
Ten-League International Holdings Limited
Investor Relations Department
Email: ir@ten-league.com.sg
Ascent Investor Relations LLC
Tina Xiao
Phone: +1 646-932-7242
Email: investors@ascent-ir.com
FAQ
What did Ten-League (TLIH) announce on March 16, 2026 about Nasdaq delisting?
What does the Nasdaq Staff determination mean for TLIH shareholders?
How long will TLIH continue trading on Nasdaq after the Staff Determination?
What next steps will Ten-League (TLIH) take to try to regain Nasdaq compliance?
Why is TLIH not eligible for a second 180-day cure period under Nasdaq rules?
