By Andrew Batt:
Singapore-based Feng Shui consultancy firm New Trend Lifestyle Group has announced plans to list on London’s Alternative Investment Market (AIM).
Media reported that the seven-year-old company, formerly known as Yuan Zhong Siu Services Pte Ltd, plans to raise £1.5 million (S$3 million) from the float at the end of June to finance its Asia expansion plans.
According to its website, the company provides Feng Shui consultancy services including for property. It has seven retail outlets in Singapore and distribution partnerships in China. It employs 120 staff and made a profit of approximately S$2.8 million from sales of more than S$12 million last year. It plans to open 300 outlets in China, some of which will be franchised and others owned by the company.
“The directors believe the AIM float will raise the profile of the business internationally and enable them to incentivise key employees through the issue of options,” the company said in a statement.
Speaking to the U.K.’s Daily Express newspaper, Finance Director Lawrence Cheung said Feng Shui is about harnessing wind and water into “basic energy flows” to ensure “good health and good wealth”.
He added: “As Donald Trump once said, ‘I don’t believe in Feng Shui, but it has made me a lot of money’.”
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