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OLS Enterprise plans to move from SGX Mainboard to Catalist

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.