Kitchen Culture Holdings Ltd is Singapore’s Big Winner this Week

One big winner in Singapore’s stock market this week is Kitchen Culture Holdings Ltd (SGX: 5TI). The company saw its shares rise some 7% since last Friday to close at S$0.29 for the week. This is a sharp contrast to the Straits Times Index’s (SGX: ^STI) poor performance – it fell by 4%.

Having gone public in 2011, Kitchen Culture Holdings prides itself as being amongst “Singapore’s leading distributors of high-end kitchen systems, kitchen appliances, wardrobe systems, household furniture and accessories from Europe and USA.”

The company has more than 20 years of experience and it sees itself as a “premier kitchen solutions provider for discerning, well-heeled consumers in Singapore and Malaysia.” The company has been involved with notable residential projects in Singapore such as Coral Island at Sentosa Cove, Waterfall Gardens along Holland Road, and The Orchard Residences on top of ION Orchard.

On Friday, Kitchen Culture Holdings announced a slew of changes to its top management. The company said that its Chief Financial Officer (CFO) and Company Secretary, Lim Yii Fan, will be stepping down to “pursue other career opportunities.” He was appointed as the CFO only in March 2014 and was responsible for the overall finance activities of the company.

Taking  over the reins of looking after Kitchen Culture Holdings’ financial activities will be Lim Thiam Guan. But, he won’t be the CFO; his titles are instead Financial Manager and Company Secretary.

Another management change for Kitchen Culture Holdings is its Chief Operating Officer (COO) position. Tye Seg Kuan Alan will be the company’s new COO, overseeing the firm’s operations. Prior to this, he was the Director of Commercial Banking at Australia and New Zealand Bank (Singapore) for five years.

Kitchen Culture Holdings has no earnings to speak of at the moment, with losses over the last 12 months.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.