Extol changes name to AppAsia Bhd

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KUALA LUMPUR (Oct 10): Internet security provider Extol MSC Bhd announced it has proposed to change its name to AppAsia Bhd, subject to approval from its shareholders.

“The proposed change of name is subject to the approval of the shareholders of the company, at the extraordinary general meeting to be convened at a date to be announced later,” the company told Bursa Malaysia today.

Extol added that if approved by the shareholders, the proposed change of name will be effective from the date of issuance of the certificate of incorporation by the Companies Commission of Malaysia.

Extol said it will issue a circular to shareholders in due course.

To recap, Extol saw its previous board of directors and the shareholders embroiled in a tussle, which resulted in the complete change of the new board composition.

The new board of directors is chaired by Datuk Rahadian Mahmud Mohammad Khalil, who is also the chief executive officer of property developer Magna Prima Bhd, while some of its key management teams are also directors in painting and industrial chemicals manufacturer Sersol Bhd.

Shares in Extol dropped 1.67% today to close at 29.5 sen, giving it a market capitalisation of RM40.99 million.