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OLS Enterprise plans to transfer from the Singapore Exchange (SGX) Mainboard to Catalist, it said on Thursday.
"The board believes that the proposed transfer will provide the company with a more suitable platform for the listing and trading of the shares of the company as Catalist provides a more conducive listing platform for companies which require a flexible regulatory system to float their shares," it said in a release to SGX. "The board is of the view that the proposed transfer and listing on the Catalist will put the company in a better position to identify suitable business(es) to acquire."
The firm is on the Watch-List of the SGX.
In order to return to profitability and remove itself from the Watch-List, it has undertaken efforts to turn itself around by restructuring its existing business and adding profitable businesses to the group.
After it is moved to Catalist - subject to approvals from SGX and shareholders - it will no longer be on the Watch-List.