GS Holdings Limited, a centralised commercial dishware washing company, has lodged its preliminary offer document for its proposed listing on the Catalist board of the Singapore Exchange (SGX).
UOB Kay Hian is the issue manager, sponsor and placement agent for the proposed listing.
GS specialises in providing end-to-end cleaning services – particularly dishwashing – for Singapore’s F&B industry, in which it claims to maintain a 40 per cent market share, serving a diversified customer base covering shopping malls, food courts, coffee shops, restaurants hawker centres and a public tertiary hospital.
According to its prospectus, GS’ solutions adds value to its customers by reducing manpower reliance and reduce labour costs associated with cleaning. This is while increasing quality control of the cleanliness of crockery and utensils while enabling customers to focus on core businesses activities.
The company further claims in its prospectus that there it enjoyed a favourable market outlook driven by a strong domestic “eating-out” culture, coupled with rising income and living standards. Additionally, it further said it stands to benefit as authorities in the city state are formulating and enforcing more stringer requirements in relation to food hygiene in the city-state.
As part of its future growth strategies, GS is seeking to fully automate dishware washing processes as part of a push to increase productivity and efficiency; establishing additional centralised dishware washing facilities; and forging close working relationships with government agencies to navigate labour and productivity challenges within the cleaning and F&B industries.
With three dishware washing facilities located at 1 Senoko Avenue, , IMM and Big Box, it is serving F&B establishments across the island from these centralised facilities, which capitalise upon shifts in an evolving market. GS intends to improve and innovate on its existing processes, seeking to fully automate its dishware washing processes to increase productivity and efficiency.
In preparation for market demands, GS will be expanding and relocating its Senoko facility to a larger facility at 8 Loyang Way 4, expected to commence operations from March 2016 and increase its capacity to meet with an expanding customer base and growing business volumes.