The ol’ EOH practically begging for mercy as they succumb to yet another desperate attempt to reclaim relevance. This time, they’re ditching their “Holdings” moniker for iOCO Limited, because, you know, “branding initiatives” and all that jazz.
The real question is, will this lame attempt at a rebranding succeed in sweeping their sordid past under the rug? After all, EOH’s tunnel-visioned leadership has seen them nose-dive into the abyss, leaving their shareholders in the lurch. A shadow of their former selves, they cling to the hope that a mere name change will somehow magically erase the stench of corruption and corruption-related fines still hanging over their heads.
But will it be enough to distract from the fact that their group revenue has flatlined, their operating profit is in shambles, and their debt is still growing like a festering wound? We doubt it.
And yet, they’re expected to blame it all on the “one-off restructuring costs” and “decline in group revenue” as if these are the only issues at play. Spoiler alert: IT SERVICE PROVIDERS WHO ENGAGE IN MASSIVE CORRUPTION AND ARENA OF GREED DON’t get to claim they’re in a “transformation phase.”
The real crisis lies in the crumbling leadership, the hemorrhaging of talent (read: sanity), and the decaying trust between the company and its stakeholders. Renaming a company isn’t going to fix the rot from within.
But hey, who knows? Maybe the folks at EOH are counting on us all to forget the countless corporate scandals, the destroyed reputations, and the indelible marks of shame. We’re not willing to give them the benefit of the doubt just yet.
