GKE Corp awaits greenlight on proposed entry into mobile handset distribution

It says the new handset distribution is meant to complement its current business.

GKE Corp is seeking shareholders' approval to diversify into a new business of distributing mobile handsets by buying over the distribution business of an existing player, according to a bourse filing.

GKE says the new handset distribution is meant to complement its current business so long as it remains viable and will give the group better prospects of profitability.

Together with a partner, GKE will run the distribution business via their venture, where GKE will hold 60%.

The company said the joint venture company ‘intends’ to work with one of the key telco companies in Singapore to set up a chain of retail shops for this.

Whilst the new distribution will start locally, GKE says it has regional ambitions should suitable opportunities arise.

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