KUALA LUMPUR (Sept 4): Biomass boiler design and manufacturing company Boilermech Holdings Bhd’s shares will be traded under its new name BM Greentech Bhd, effective from Wednesday (Sept 6).
The counter’s new short name will be “BMGreen”, replacing the old stock short name “Boilerm”, while its stock number remains unchanged, the company said in a filing with Bursa Malaysia on Monday (Sept 4).
Boilermech, which is 52.57% owned by Main Market-listed agro-food producer QL Resources Bhd, said the change of name reflects its vision and mission to be the regional partner of choice for innovative and cost-effective energy and water solutions, such as green solutions which achieve lasting sustainability.
“Our new name also captures our core values of innovation, excellence, collaboration and responsibility, aligning us with our holding company QL’s philosophy of creating shared value for all stakeholders.
“As BM Greentech, we will continue to deliver high-quality products and services that meet the environmental, social and governance (ESG) needs of the market and enhance our brand recognition in creating a more sustainable future for all,” said Boilermech's past filing.
The board believes that the change of name will also uplift the company’s market position and show the company’s development and progress.
At 3.21pm on Monday, shares of Boilermech were up one sen or 1.11% to 91 sen, valuing the company at RM469.56 million. Over the past one year, the stock rose 19.74% from 76 sen.