Manufacturer Singapore Windsor to diversify into retail, infrastructure business

PRINTED circuit board maker Singapore Windsor Holdings is seeking to diversify into the retail, infrastructure and limousine service businesses.

The Singapore-listed, Hong Kong-based firm said in a Singapore Exchange announcement on Tuesday that it wants to expand into the trading and distribution of fast moving consumer goods.

It also intends to embark on infrastructure-related businesses, including to supply goods and services to the construction and telecomunications infrastructure sectors.

For example, it could trade and distribute industrial products, lay cables or manage telecommunications towers.

Singapore Windsor is also exploring the car rental and limousine services business.

It said the diversification is necessary to provide an additional revenue stream and cut its reliance on its existing business.

The company makes high-end printed circuit board punching moulds, and die-casting and plastic injection mould bases.

It noted that the environment for its current business is still competitive and challenging.

As part of the process to move into the new businesses, the company entered into a non-binding memorandum of understanding with a manufacturer on Tuesday to distribute its machines and spare parts.

Singapore Windsor said the new businesses will focus on serving South-east Asia, particularly Myanmar, for a start.

An extraordinary general meeting will be held to seek shareholders' approval for the diversification.

Singapore Windsor shares gained 3.5 cents to end at 38 cents. It announced the plans after markets closed.