Wayco Manufacturing

Datapulse to sell back haircare business Wayco just a year after acquisition

SINGAPORE (Nov 16): Less than a year after its controversial purchase of haircare company Wayco, Datapulse Technology is looking to reverse the deal.

In that time, two entire boards have been changed, and three CEOs have come and gone, opening up debate on corporate governance standards in Singapore.

See: Questioning Singapore's corporate governance standards

Datapulse shareholders vote in favour of current board

Caption: Minority shareholder Chew Ah Kong urges shareholders to vote against the proposed 1-cent per share dividend.

Sharanya Pillai (Apr 20): The current board of Datapulse Technology successfully dodged an attempt to be ousted on Friday, clearing the way for the company’s controversial diversification plans into the haircare business.

At a raucous extraordinary general meeting of nearly 200 shareholders, shareholders voted against resolutions to oust CEO and executive director Wilson Teng, chairman Low Beng Tin, and independent directors Rainer Teo and Thomas Ng.

SGX directs Datapulse to review corporate governance practices

SINGAPORE (Feb 23): In a rare move, the Singapore Exchange has ordered Datapulse Technology to appoint independent advisors by March 9 to conduct a review of its internal controls and corporate governance practices.

Since late last year, the company has been embroiled in a shareholders’ tussle. Ng Bie Tjin @ Djuniarti Intan, daughter of Datapulse co-founder Ng Khim Guan, has called for extraordinary general meeting to oust the newly appointed board.

Datapulse Technology to diversify into haircare and cosmetics manufacturing

SINGAPORE (Dec 12): Datapulse Technology is transforming itself to a manufacturer of haircare and cosmetics products from a manufacturer of CD and DVD products.

On Tuesday, Datapulse entered into a share purchase agreement with Way Company for the purchase of a 100% stake in Malaysia-based Wayco Manufacturing for a cash consideration of $3.5 million.

Wayco Manufacturing also owns three properties where its production facilities are located, one in Selangor and two in Johor Bahru.

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