PSL Holdings plans to diversify business

SINGAPORE - Mainboard-listed PSL Holdings announced on Tuesday that it it plans to diversify its business into investing in companies and other entities through equity, securities and other instruments such as bonds or convertible bonds, and investing in quoted securities and instruments including but not limited to funds and bonds.

It is currently an investment holding company that provides logistics and support services to the construction industry in Singapore.

As the proposed diversification is expected to change the risk profile of the company, shareholders' approval will be required.

Shareholders are also advised to exercise caution in trading their shares as there is no certainty or assurance as this point that the proposed diversification will be completed, PSL said.

It said it will in due course provide more information on the proposed business diversification in a circular to be despatched to its shareholders, and convene an extraordinary general meeting to seek shareholders' approval.