PETALING JAYA: Siab Holdings Bhd has proposed to change its name to Taghill Holdings Bhd
, reflecting its strategic integration with Taghill Projects Sdn Bhd.
In a filing with Bursa Malaysia, Siab said the proposed name was approved and reserved by the Companies Commission of Malaysia on Aug 16.
The name change requires approval from the company’s shareholders at an EGM on Sept 18, 2024.
To recap, Siab has completed a rights issue exercise which raised over RM92mil to support its acquisition of Taghill, a construction project and contract management consultancy company.
The group’s order book stood at RM1.48bil as at June 30 and Taghill has committed to a profit guarantee of at least RM24mil for the financial years 2024 and 2025 on an accumulative basis.
Meanwhile, Siab returned to the black in the second quarter ended June 30 with a net profit of RM107,000 compared with a net loss of RM3.9mil last year.
Revenue for the quarter fell 43.2% to RM38.2mil against RM67.3mil.
