SMJ International to rebrand as HealthBank Holdings after disposal of carpet business

SINGAPORE - SMJ International Holdings on Friday (April 5) announced it will rename itself HealthBank Holdings Limited following the disposal of its core carpet furnishing business, SMJ Furnishings, and its subsequent new focus on hospitality and tourism.

SMJ International sold subsidiary SMJ Furnishings on Jan 16, 2018.

On Aug 8 last year, the company's indirect wholly-owned subsidiary, Beijing Zuoyue Tiancheng Business Management Co, subscribed for 52 per cent of equity interest in Beijing Shengyan Commercial Management Co. The latter owns five subsidiaries in China which mainly provide hospitality facilities management, including the management of hotels, resorts and provision of consultancy services on hotel and resorts management, investment, development and branding.

The company said the new corporate identity will help it avoid confusion with SMJ Furnishings, which remains in operation, and also better reflect SMJ International's new business focus.

The Accounting and Corporate Regulatory Authority of Singapore (ACRA) approved the name change application on March 14, 2019.

The company will hold an extraordinary general meeting on April 29, 2019, immediately after its annual general meeting to vote on the name change.

The proposed change of name will not affect any of the shareholders' rights or the company's legal status, business operations and financial position, and the existing shares will continue to be traded on the Singapore Exchange.