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Singapore Exchange (“SGX”) is pleased to welcome the listing of Far East Group Limited (“Far East Group”) on Catalist, under the stock code of “5TJ”.
The Far East Group, founded in 1953, is a pioneer in the refrigeration and air-conditioning business in Singapore. It is a comprehensive provider of refrigeration and air-conditioning systems and products in the heating, ventilation, air-conditioning and refrigeration industry in South-east Asia, with subsidiaries in Singapore, Malaysia and Hong Kong as well as representative offices in Vietnam and Indonesia.
Besides sourcing and distributing agency products, the Group also manufactures their in-house “Eden” brand of heat exchangers and condensing units. In particular, Eden products are widely recognised and used by well-known international and regional retail chains such as Carrefour, Metro, Tesco, Giant, Cold Storage and NTUC FairPrice as well as Resorts World Sentosa and Marina Bay Sands.
Mr Steven Loh, CEO and Executive Director of Far East Group said, “Far East Group is proud to be successfully listed on SGX Catalist as it enhances our public image in Singapore and overseas. We would like to thank SGX for its help in making this important milestone in our Group’s history possible. As we look forward to the future, we plan to capitalize on opportunities in the heating, ventilation, airconditioning and refrigeration industry, where we believe we are now one of the leading regional distributors of commercial and light industrial refrigeration systems and products in Southeast Asia”
We warmly welcome Far East Group to our Catalist community of growth companies. We are pleased that home-grown pioneers like Far East Group choose to list on SGX to take their business to the next level of growth. Catalist is proving to be an attractive platform for companies to raise capital and increase their brand exposure in Asia,” said Mr Lawrence Wong, Head of Listings at SGX.
Far East Group, with an estimated market capitalisation of about S$19.5 million, brings the total number of Catalist companies to 134 with a combined market capitalisation of about $6.7 billion.
