CORP BRIEF: WZ Satu, CTOS Digital and MARC

WZ Satu proposes name change to Citaglobal Bhd 

CIVIL engineering and construction specialist WZ Satu Bhd had yesterday proposed to change its name to Citaglobal Bhd for a better representation of its nature of business moving forward. The group intends to transform into a conglomerate that is involved in facilities management, telecommunications, energy, infrastructure and technology sectors. In a filing to Bursa Malaysia on Tuesday, WZ Satu said that an EGM to obtain the shareholders’ approval for the proposed agenda will be held at a date to be announced later.

CTOS Digital increases stake in Thailand’s BOL 

CTOS Digital Bhd has increased its associate stake in Thailand-based Business Online Public Co Ltd (BOL) to 24.82% from 22.65% previously, as the group continues to strengthen its presence in Thailand as part of its regional expansion strategy. CTOS Digital acquired 17.8 million shares via a direct business transaction on the Thai stock exchange, representing 2.17% equity interest in BOL for purchase consideration of 205.2 million baht or equivalent to RM26.2 million. The acquisition will be fully funded by proceeds raised from the recently completed private placement, CTOS said in a statement yesterday.

MARC wins double awards for rating agency of the year 

MALAYSIAN Rating Corp Bhd (MARC) was named Rating Agency of the Year (Malaysia) for the year 2021 by Hong Kong-based The Asset magazine. In addition to this, MARC has also been awarded for its role as the external reviewer of Small Medium Enterprise Development Bank Malaysia Bhd’s (SME Bank) RM500 million Asean sustainability sukuk which was named Best Sustainability Sukuk for 2021. The Asset Triple A Sustainable Capital Markets Country & Regional Awards 2021 are conferred to key institutions that have played a crucial role in the development of finance, banking and the capital markets. The Rating Agency of the Year award recognises the credit rating agency for its contribution to the Asian debt capital markets in providing investors and issuers with relevant benchmarking pertaining to the creditworthiness of corporates, financial institutions and sovereigns.