GS Holdings lodges offer document for proposed Catalist listing

SINGAPORE - Dishware washing company GS Holdings Limited has lodged its preliminary offer document in connection with its proposed listing on the Singapore Exchange Catalist board.

The growing food and beverage (F&B) services industry here is increasing demand for centralised dishware washing services, GS said in a statement on Monday.

"A strong domestic 'eating out' culture in Singapore, in line with rising living standards and income, leads to increased spending on F&B services.

"Additionally, more stringent requirements by the authorities and rising consumer expectations on food hygiene are expected to lead to an increase in demand for centralised dishware washing services," it said in a statement.

The company said that it would seek to fully automate its dishware washing process.It will also move into a larger dishware washing facility at 8 Loyang Way 4, and that facility is expected to commence operations from March 2016, it said.

The new facility will increase its capacity to meet with an expanding customer base, while reducing costs through greater economies of scale, GS said in the statement.

GS is also considering helping to manage its customers' waste disposal processes and kitchen workflow designs in the future, it added.

UOB Kay Hian Private Limited is the issue manager, sponsor and placement agent for GS's proposed listing.

GS serves customers including F&B tenants located in shopping malls, food courts, coffee shops, restaurants, hawker centres, and a public tertiary hospital.

It added in its statement that it reduces its customers' reliance on manpower and increases the quality control on the cleanliness of crockery and utensils. This would allow customers to focus on their core businesses and reduce labour costs associated with cleaning.

GS also said that to the best of its knowledge, it is the first and only dishware washing specialist in Singapore to be accredited with the ISO 22000 : 2005 food safety management and Halal certifications.