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SMJ International plans to rebrand as HealthBank Holdings after disposal of carpet business
SMJ International Holdings is seeking shareholders' approval to rename itself as HealthBank Holdings to reflect its new focus on hospitality and tourism after the 2018 sale of its carpet furnishing business.
On Aug 8, 2018, the company's indirect wholly-owned subsidiary, Beijing Zuoyue Tiancheng Business Management Co, subscribed for 52 per cent of equity interest in Beijing Shengyan Commercial Management Co. The latter owns five subsidiaries in China which mainly provide hospitality facilities management, including the management of hotels, resorts and provision of consultancy services on hotel and resorts management, investment, development and branding.
The company said that the new corporate identity will help to avoid confusion with SMJ Furnishings, the carpet furnishing business that was sold but which remains in operation. The new name will also better reflect the new business focus.
The Accounting and Corporate Regulatory Authority of Singapore (ACRA) approved the name change application on March 14, 2019.
The company will hold an extraordinary general meeting on April 29, 2019, immediately after its annual general meeting to vote on the name change.
The proposed change of name will not affect any of the shareholders’ rights or the company’s legal status, business operations and financial position, and the existing shares will continue to be traded on the Singapore Exchange.