01 February 18 The Business Times by ANNABETH LEOW
IT has no operational equipment, manufacturing staff or ongoing sales.
But mainboard-listed Datapulse Technology has now said it is not ruling out a return to making digital media storage products.
This was even as it announced on Wednesday that it has finished disposing of its factory in Tai Seng Drive.
The company's former management sold off the Tai Seng site last year, but its bid to acquire new manufacturing premises fell through - leaving the disk drive business in the lurch.
It has yet to find a suitable alternative venue. Datapulse shifted its registered office to an office unit in Beach Road earlier this week.
The company's former management started scaling down manufacturing operations in November last year, "and the company has since been progressively retrenching its staff, and dismantling and disposing part of its manufacturing equipment", Datapulse said on Wednesday.
But it said it has hung on to some of the equipment, and might consider restarting manufacturing activities if suitable premises are found.
Such a move would depend "on how soon this can be done, and any changes to the company's business direction or strategy in the meantime".
Just one day earlier, the company's newly appointed board of directors had said it believed "that it is not viable or sustainable for the company to continue with its existing business as the sole or primary core business".
The board has incited a shareholder revolt from Datapulse co-founder Ng Khim Guan's family, which holds a stake in the company.
At the heart of the feud is the acquisition of a Malaysian consumer goods manufacturer from a vendor with ties to both a new controlling shareholder and new CEO Kee Swee Ann.
Mr Kee quit abruptly on Tuesday.