Will Sevak's latest change of name and leadership spice up investors' returns?
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THE haphazard changes at mainboard-turned-Catalist-listed Sevak Ltd over the years have been dizzying. And more changes are about to come.
On Friday, Sevak's shareholders are set to vote on a proposed name change to "Digilife Technologies Limited" to reflect its digitalisation strategy and move into the tech space. The firm, majority owned by founder and chairman Bhupendra Kumar Modi, distributes mobile prepaid cards in Indonesia, provides ICT services and manages a battery electric vehicle fleet with ride hailing firm Grab in Singapore.
With a topline that has shrunk by about a third in the last five years to S$264 million in FY2020 when it sank into the red - just one year after it returned to the black and scampered out of the Singapore Exchange's watch list - a substantive refresh appears to be overdue.
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