The company plans to spend S$715,969 to acquire a 20% stake in a Thai company called Venture Incorporation Public Co, which specialises in buying over bad debts from banks and also offers debt collection services for other lenders. "The Board believes that the proposed acquisition would enhance shareholder value for the Company," Koo added. Venture Incorporation used to be called Circuit Electronics Industry PCL and its core business was in electronics parts manufacturing and distribution. Besides managing bad debts owed by car buyers, Venture Incorporation is also expanding into asset management. OLS shares last traded at 0.6 Singaporean cent, unchanged year-to-date.

Source: The Edge Markets March 14, 2017 15:45 UTC