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OIO Holdings to divest original loss-making engineering business for $5,000

The Edge Singapore
The Edge Singapore8/1/2022 08:01 PM GMT+08  • 2 min read
OIO Holdings to divest original loss-making engineering business for $5,000
According to OIO Holdings, DLF Engineering is not likely to “generate any future economic benefit”
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OIO Holdings plans to sell its loss-making subsidiary DLF Engineering to one of its own executive directors, Fan Chee Seng, for $5,000.

Prior to OIO was listed as DLF Holdings back in 2018 with DLF’s original engineering business, started by, Fan, as its core.

When the engineering business worsened, the company then diversified into blockchain-based businesses and along with it, Fan’s stake was diluted.

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