KUALA LUMPUR (June 29): Integrated media services provider PUC Founder (MSC) Bhd will now be known as PUC Bhd to denote its new corporate identity,  the group said today after shareholders approved the name change at the group’s annual general meeting today.

In a statement, the group said it changed its name also because its founding Chinese company PUC Founder Group is no longer its substantial shareholder.

“We are excited about this new brand as it cements our commitment to serve the Malaysian market. Over the years, the company has continuously expanded its operations and built a strong foundation in core businesses.

“We will continue to strive to deliver and build on the company’s strengths in innovative tailor-made offerings. This is in line with our vision to become a leading digital lifestyle technology services provider and contributor to the country’s larger efforts to develop a vibrant Digital Economy," said group managing director and chief executive officer Cheong Chia Chou.

The group also said the final tranche of its private placement of 55.2 million shares at RM0.14 per share was listed yesterday.

PUC shareholders also approved the adoption of a new constitution according to the Companies Act 2016 and a share buyback of up to 10% of the group’s total number of issued shares.

PUC’s shares settled half a sen or 3.45% lower at 14 sen, for a market capitalisation of RM178 million.