SINGAPORE (Mar 8): Reclaims Global, which will make its trading debut on Monday, reckons it has a “blue ocean”, the business strategy that exhorts companies to compete in untapped markets.
Reclaims Global plans to turn organic waste into replacement plywood.
According to CEO Andrew Chew, the proof of concept and proof of product are already available.
While Reclaims Global currently holds exclusive rights to the invention, it is in the process of acquiring the intellectual property rights to the technology.
Main image (from left): Co-founders Tan Kok Huat and Chan Chew Leh with CEO Andrew Chew
The inventors are researchers employed by ETH Zurich, known as the Swiss Federal Institute of Technology in Zurich.
If the recycling process takes off in a big way, the US$38 billion ($51.5 billion) global plywood industry will be disrupted.
This foray into recycling is one reason why Reclaims Global is seeking to raise funds on the Singapore Exchange’s Catalist board.
On March 1, Reclaims Global offered a total of 20 million shares at 23 cents each for sale in conjunction with its IPO. Of the total number of shares offered, two million were allocated for retail shareholders and the remainder for institutional investors and the company’s employees and associates.
Based on FY2018 earnings per share of 2.44 cents, the offer price of 23 cents values the company at 9.4 times historical earnings and translates into a market value of $30.1 million.
To find out more about the company, read "Reclaims Global sees 'blue ocean' of opportunity in waste" here in Issue 872 of The Edge Singapore which is on sale this week or subscribe here.
