After durians, what next for Serial System?
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SERIAL System, the largest electronics component distributor listed on the Singapore Exchange, earlier this week made the very unusual move of investing in a Malaysian durian business, involving a total sum of about S$1.915 million.
Electronics and durians are as different as cheese and chalk. But viewed against Serial System's history of acquisitions, the move seems less bizarre. The group, after all, has a history of dipping its fingers into various pies. But attractive and important as diversification is, company managers must also bear in mind that it can bring about new challenges.
The group said in an exchange filing on Monday evening that it has invested in a joint venture with its CEO Derek Goh and an individual named Philip Ting Ding Ing. The joint venture, in turn, subscribed for 10 new shares in Musang Durians Frozen Food for RM10 million (S$3.17 million).
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