KUALA LUMPUR, May 14 — WZ Satu Bhd has redesignated its non-independent non-executive deputy chairman Datuk Seri Mohamad Norza Zakaria as its executive chairman effective today, following the change in shareholding.
It said CitaGlobal Energy Resources Sdn Bhd on Dec 4, 2019 became one of the substantial shareholders owning 56 million shares or 10.945 per cent of the paid-up capital of WZ Satu.
As of today, CitaGlobal has increased its shareholding to 59.57 million shares after acquiring an additional 3.57 million shares from the open market, bringing its stake in WZ Satu to 11.642 per cent.
In a statement today, WZ Satu said following this change in shareholding, Tengku Datuk Seri Uzir Tengku Datuk Ubaidillah had relinquished the chairmanship and handed over the leadership to Mohamad Norza, who is one of the two directors representing CitaGlobal.
Mohamad Norza’s redesignation to executive chairman would enable him to set the direction for the company, it said.
WZ Satu managing director and group chief executive officer Tengku Datuk Indera Zubir Tengku Ubaidillah said the company was delighted to welcome Mohamad Norza on board and look forward to leveraging his vast experience and exposure in the related industries.
“This is notwithstanding his qualification as a qualified accountant, a Fellow of Certified Practising Accountants, CPA Australia, and chartered accountant of the Malaysian Institute of Accountants,” he added. — Bernama