Dishwashing firm GS Holdings heads for Catalist listing

Singapore

GS Holdings, a commercial dishwashing company for Singapore F&B outlets that is run by the brother of Koufu Group's co-owner, on Thursday launched a S$6 million share placement for a Catalist listing.

The offer document showed that business from the foodcourt chain made up nearly 40 per cent of GS Holdings' total revenue for fiscal 2014. This contribution, however, fell to 7 per cent for the first half of 2015. GS Holdings' net profit has been boosted by one-off sales of property in the last two fiscal years.