Nation maid agency's parent firm files for Catalist listing

The parent company of maid agency Nation Employment has lodged a preliminary offer document for a listing on the Catalist board.

Advancer Global Limited provides three types of services - employment, cleaning, and stewarding and security services.

It is perhaps most well-known for Nation Employment, one of the biggest maid agencies here. It was established in 1994 and provides foreign domestic worker employment services and also trains them. The agency has six branches here.

The group's two other revenue streams come from providing cleaning and stewarding services to hospitals, hotels, commercial and residential buildings, as well as security services for commercial, industrial and residential properties.

Mr Gary Chin, its executive director and chief executive, told The Straits Times that the company was going for a listing to raise its profile.

"Our directors believe that the listing of our company on the Catalist board will increase our brand awareness locally and overseas, as well as enable us to raise funds from the capital markets to fund our future acquisitions."

The proceeds from the listing will be used to expand business operations, including future acquisitions, branding and marketing, and working capital purposes. The group reported a revenue of $44.79 million for the 2015 financial year, up from $39 million in 2014.

It cited increased revenue in all three areas of the business.

Its employment services business increased turnover by $1.2 million to $12.8 million last year due to higher average recruitment fees and more foreign domestic workers being hired. It recorded a net profit last year of $4.37 million, an increase from $2.55 million in 2014. Earnings per share in 2015 came in at 3.36 cents, up from 1.96 cents for the previous year.

Mr Chin cited the company's track record as a manpower solutions and facility management provider, as well as its resources to undertake acquisitions which would help it to "capitalise on the strong prospects" of the industries it operates in.

The firm also expects employment services to continue to be in demand as there is an increasing need for foreign domestic workers to provide support to families with seniors and children.

A version of this article appeared in the print edition of The Straits Times on June 16, 2016, with the headline 'Nation maid agency's parent firm files for Catalist listing'. Print Edition | Subscribe