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OLS Enterprise to take 20% stake in Thai debt collection company

Chan Chao Peh Published on Tue, Mar 14, 2017 / 10:35 PM GMT+8

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SINGAPORE (March 14): OLS Enterprise, having aborted its earlier reverse takeover deal with a Malaysian phosphate maker, has found a new deal.

The company plans to spend $715,969 to acquire a 20% stake in a Thai company called Venture Incorporation Public Co, which specialises in buying over bad debts from banks and also offers debt collection services for other lenders.

"The Board is of the view that the proposed acquisition is appropriate given the business opportunities that it offers," said OLS executive chairman Simon Koo in a March 14 stock exchange filing.