The strategy seems to have paid off so far, with the share price gaining 500% over the past year to 0.6 cents, translating to a market capitalisation of $10.3 million as of April 14.
Ship repair in Thailand was the main business of OEL (Holdings) until an industry downturn forced a rethink of its strategy.
However, with new shareholders gaining control, the company has since exited its legacy ship repair business and renamed itself AJJ Medtech Holdings (SGX:584
) to tap growth in the healthcare sector, which is in higher demand and is more attractive today.
