It had three proposals that will see the company issue a renounceable rights issue, purchase of a construction and engineering company and entry into the bauxite mining.
The first proposals entails the issue of a renounceable rightsi issue of up to 55 million new ordinary shares of rm0.50 each in WZ Satu at an issue price of rm0.60 per rights share on the basis of one rights share for every two existing WZ Satu shares held.
The second proposal involves the acquisition of KenKeong Sdn Bhd for rm27.5 million which would result in a diversification in the operations of WZ Satu into civil engineering and construction.
The third proposal is the entering into a bauxite mining works agreement by SE Satu Sdn Bhd, a 49% owned company of WZ Satu, with Kreatif Selaras Mining Sdn Bhd for SE Satu to be engaged as a contractor to mine, extract and produce bauxite ore.
Executive Chairman and Chief Executive: Tengku Dato' Uzir Bin Tengku Dato' Ubaidillah serves as the Chief Executive Officer of WZ Satu Berhad. Tengku Dato. Bin Tengku Ubaidillah serves as Chief Operating Officer of Kurnia Setia Bhd. Tengku Dato. Bin Tengku Ubaidillah served as Managing Director of Malaysian General Investment Corporation Berhad. He co-founded Road Builder (M) Holdings Berhad (also called as Road Builder Malaysia Holdings Bhd). He was attached to Jabatan Kerja Raya, Malaysia.
Dato' Ir. Mohd Ghazali Bin Kamaruzaman has been an Executive Director of WZ Satu Berhad since October 24, 2013.
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