Straits Trading is diversifying its portfolio from industrial metals towards property and hospitality services, according to Channel NewsAsia (CNA).
Chew Gek Khim, Executive Chairman of Straits Trading, said that by 2015, she hopes the company will be Asia’s answer to Berkshire Hathaway, a diverse US holding company led by billionaire Warren Buffett.
“Against this backdrop, I think it’s difficult to speak with certainty when we will actually achieve all that the 2015 target is in front of us. We would still like to achieve it, whether we actually can depends on the market,” she said.
CNA also noted that the firm managed to transform its S$31.3 million in losses for Q3 2010 into a S$19 million profit in Q3 this year.
“For now I daresay we’re still undergoing transformation. It has not reached the point where we are satisfied and we can say, okay, let’s go on to something new,” she said.
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