Catalist-listed CCM Group gets approval for name change

It will now be called Singapore eDevelopment Limited.

SGX Catalist-listed CCM Group Limited (“CCM”), yesterday revealed that shareholders have approved its name change to Singapore eDevelopment Limited, in a bid to chart a new corporate strategy via diversification into the Information Technology business.

At an Extraordinary General Meeting held this yesterday, shareholders voted in favour for CCM to seek fresh opportunities in the IT sector through new business activities in software and hardware development, as well as investing in businesses riding on the mobile internet and cloud computing wave. 

According to Chan Heng Fai, CEO and Executive Director of CCM, "With a new name, fresh opportunities in real estate, IT and investments in high-growth securities, as well as a potentially improved balance sheet, we are working resolutely to plug the gaps in the legacy construction business and look towards a long-term turnaround corporate strategy.”