KUALA LUMPUR: Citaglobal Bhd discloses that Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah has increased his stake in the company to 12.4 per cent from 9.0 per cent.
Citaglobal, in an announcement on changes in substantial shareholders to Bursa Malaysia today, said the king had bought an additional 32.1 million shares.
This raised Al-Sultan Abdullah's direct shareholding in Citaglobal to 132.12 million shares.
Citaglobal, previously known as WZ Satu Bhd, saw its share price settle unchanged at 20 sen today, bringing a market capitalisation of RM212.46 million.
Citaglobal is a diversified group with multiple revenue streams.
The company is involved in civil engineering and construction (CEC), oil and gas (O&G) and manufacturing.
Citaglobal is repositioning itself as a conglomerate involved in the construction, telecommunications, energy and technology sectors.
To recap, Citaglobal, previously WZ Satu Bhd, acquired Citaglobal Engineering Services Sdn Bhd (CES) on 17 November 2021 from Citaglobal Sdn Bhd for RM140 million.
The acquisition came with an aggregate net profit guarantee of RM60 million for three full financial years ending in 2022, 2023 and 2024.
CES is a Bumiputra private limited company engaged in engineering consultancy and construction-related services.
On 9 March 2022, WZ Satu proposed changing its name to Citaglobal Bhd for a better representation of the nature of its business moving forward.
The company intends to transform into a conglomerate involved in facilities management, telecommunications, energy, infrastructure, and technology sectors.
On 13 March, WZ Satu obtained Bursa Malaysia's approval for the change in the name to Citaglobal Bhd.
Citaglobal has an existing orderbook of RM539 million as of 31 March 2022. Coupled with CES's orderbook of RM193 million, Citaglobal will thus have a total orderbook of RM732 million.