Datapulse Tech plans to enter property sector

Datapulse Technology is planning to expand its core business to include property development, investment and trading as it seeks to capitalise on the buoyant property market in Asia.

Datapulse's current core business involves the manufacturing of digital storage media used for content distribution in the Asia-Pacific region.

Pointing to rising income levels, urbanisation and the growing importance of Asia in driving global economic growth, the group noted that Asia's property market has been growing sustainably and delivering long-term value.

The group believes that expanding its core business would scale back the group's reliance on its existing business which is "competitive and challenging", it said.

It also expects the new business will deliver diversified returns and contribute an additional stream of revenue and earnings, aside from allowing the group to venture into the growing property industry both locally and overseas.

"The group will focus on the markets in Asia in the initial stage. The group may explore joint ventures and/or strategic alliances to carry out the proposed new business as and when the opportunity arises," Datapulse said in a release to the Singapore Exchange (SGX) on thursday.

In terms of property development, it said it will look at acquiring, developing and/or selling residential, commercial (retail and office) and industrial property.

It may also acquire and hold investments to collect rent, for capital growth as well as to provide property- related services and facilities.

It may also trade property- related assets "with reasonable yield and/or capital growth potential".

An extraordinary general meeting (EGM) will be convened to seek shareholder approval for the proposed expansion.

Shares in Datapulse closed 0.5 per cent lower at $0.192 on wednesday.