KUALA LUMPUR (Apr 1): GW Plastics Holdings Bhd, which is undergoing a reverse takeover by MCT Consortium Bhd, has announced a new senior management line up ahead of the completion of a corporate exercise, which will see it changing its name to MCT Bhd.

In a filing with Bursa Malaysia today, GW Plastics (fundamental: 1.65; valuation: 0.3) said MCT Consortium co-founder Tan Sri Goh Ming Choon, 51, has been appointed as deputy executive chairman of the Practice Note 17 company effective immediately.

Goh, who holds 569.7 million shares or a 42.7% stake in GW Plastics, has 18 years of experience in property development and construction activities. At MCT Consortium, he is mainly responsible for land acquisitions, determining marketing and business development strategies and policies, and building rapport with suppliers, customers and the relevant authorities.

In a separate filing, GW Plastics said another MCT Consortium co-founder, Datuk Seri Tong Seech Wi, 49, has been appointed as executive director and chief executive officer of the company. Tong owns 306.7 million shares or 23% in GW Plastics.

He has more than 23 years of experience in property development and construction activities. Tong is responsible for managing and overseeing the daily operations and management of the MCT Consortium group.

The company also announced the appointments of Tan Sri Abi Musa Asa’ari Mohamed Nor, 65, Tan Sri Lau Yin Pin@Lau Yen Beng, 65 and Datuk Goh Hin San, 58, as directors effective today.

In a statement today, GW Plastics said it will be completing its acquisition of MCT Consortium for RM1.2 billion from the vendors.

The suspension of trading of its securities on the Main Market of Bursa Malaysia is also expected to be lifted on April 6, 2015.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)