KUALA LUMPUR (Oct 13): Citaglobal Bhd (formerly known as WZ Satu Bhd) became one of the most active counters on Bursa Malaysia on Thursday (Oct 13) morning, with its share price reaching a high of 29 sen — last seen over four years ago.
At noon break, Citaglobal pared its gains from its previous close of 28.5 sen, falling 5.26% or 1.5 sen to 27 sen, bringing a market capitalisation of RM295.1 million. Citaglobal was also the second most active stock for the day with more than 45.61 million shares traded so far.
The last time Citaglobal’s share price touched 29 sen was when it finished on Aug 21, 2018, according to Bloomberg.
Citaglobal, whose current businesses include civil engineering and construction, oil and gas, and manufacturing, intends to transform the group into a conglomerate that involves in renewable energy, facilities management, telecommunications, infrastructure and technology sectors.
Notably, its substantial shareholder comprises the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah, who holds 12.44% or 132.12 million shares in Citaglobal.
Citaglobal’s group executive chairman and president Tan Sri Mohamad Norza Zakaria, during the group’s extraordinary general meeting last Thursday (Oct 6), said there is no inference by the King on the company given he is just a passive investor.
“When we talk about Agong, he has been around since 2016. So His Majesty as an investor has been around when the company was up and down, and now is about to embark on a new venture or new journey.
“All this time, His Majesty has basically just been a passive investor, so he has trusted the management to do best for the company. There is no interference from His Majesty pertaining to this.
“And as I said, it's not that when the company is doing well, His Majesty is investing but he was around even when the company was in this gloomy and dark days of incurring a lot of losses. So it has an instrumental value to him and he'd love to see that the management of the company bring it to a better height,” he said.