Axington's board engaging Loh cousins on 'strategic changes', and appointing executives

The Loh cousins said to be exploring 'strategic possibilities'; trading in shares remains suspended

Published Fri, Sep 11, 2020 · 09:50 PM

Singapore

THE two-man board of Axington is engaging with controlling shareholders Nelson and Terence Loh to obtain clarity on "strategic changes" expected to be made in the business direction of the company, the Catalist-listed firm said in a bourse filing on Thursday.

In its response to queries from the Singapore Exchange (SGX), the company added that its board understands that the Loh cousins are continuing to "explore strategic possibilities with respect to the company". Pending further developments, the board will also continue to "assess all possibilities in the best interests of the company".

The Catalist-listed professional advisory services group had in July proposed to change its core business to that of providing medical and consumer wellness services, and investing in medical technology, robotic…