BATHROOM accessories and sanitary wares wholesaler Sim Siang Choon wants to diversify into the booming construction-related business.
In a statement yesterday, the Catalist-listed company said it was in negotiations with an external party to inject the new business to complement its existing one.
It currently operates a 100,000sqft showroom-cum-warehouse in Changi South offering more than 1,000 types of bathroom fixtures, fittings and accessories, plus kitchen cabinet systems, appliances and sinks.
It has four additional retail outlets as well as a DIY and home improvement product department.
Owing to its new business direction, Sim Siang Choon’s independent directors, Mr Chew Thiam Keng and Mr Lim Ho Seng, stepped down from the board on Wednesday.
They had recommended that new independent directors with the relevant expertise be appointed to the board. Mr Lim was a non-executive chairman.
Separately, the company announced that it had appointed Mr William Teo Choon Kow as a new independent director.
Mr Teo, 61, is a former venture capitalist at Walden Investment International Group based in Silicon Valley in the United States.
Sim Siang Choon shares were halted from trading yesterday. The thinly-traded counter last changed hands at 26.5cents last Thursday.
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