Is Mercurius finally on the right track by diversifying into grocery retailing?
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SHARES of Mercurius Capital Investment have seen active trading since it announced a planned diversification into the grocery business and ambitions for a network of over 500 stores across the region.
The proposed acquisition of a chain of grocery stores in Malaysia could provide some relief for the investment holding company, which currently focuses on property development and investment.
The company has not generated any revenue in at least the past four years. In FY2020, it incurred a net loss of S$2 million. As at end-2020, it had net current liabilities of S$4.2 million. Its independent auditor's report contained a disclaimer of opinion, with the auditors highlighting losses and liabilities that cast doubt on the group's ability to continue as a going concern.
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