Catalist-listed furniture and beauty products firm Novena Holdings sold off the last bit of their furniture business. Novena said they ”will now focus on building a new core business in the offshore and marine sector”, and that they are “exploring strategic options to grow its business via synergetic merger and acquisitions.”
Novena weren’t that successful in the furniture business, nor in beauty products. So what makes the same managers think they can make it in the offshore and marine sector? Or grow “via synergetic merger and acquisitions”.
I’m reminded of what a Hongkie friend said when he heard that the ex-CEO of NTUC Income was trying to get 100,000 people to sign a petition asking the ex-CEO to stand for the presidency, “So easy to be S’pore president meh?”