The Group's principal business of distributing high-end kitchen systems, kitchen appliances, wardrobe systems, bathroom furniture, household furniture, and kitchen accessories from Europe ("Kitchen Business"). The Kitchen Business reduced significantly after its principal wholly-owned subsidiary, KHL Marketing Asia-Pacific Pte. Ltd., entered into compulsory liquidation on 5 April 2022.
On 26 June 2023, the Company announced changes to the board composition, resulting in the constitution of a new board of directors ("Board"). Subject to a more in-depth study, the Board intends to further develop the Company's Big Data Analytics and AI Businesses in the People's Republic of China ("PRC"). In the view of the Board, this strategy is consistent with the disclosures in the Company's circular to shareholders dated 22 September 2020, particularly the "Proposed Diversification on the Core Business of the Group to include the Proposed New Business".