MC Payment announced on Aug 11 that it planned to change its name to OxPay Financial, subject to an EGM on Sept 2. The new identity follows from the formation of the new board after an EGM on June 30 where Ching Chiat Kwong, chairman and CEO of Oxley Holdings became non-executive chairman of MC Payment.
”The proposed change of name will enable the company to create a new identity for itself in the market as the group grows its business, as well as allow the business community and the public to better identify with the company under this new name moving forward,” MC Payment said in an SGX filing.
See: With dust from boardroom tussle settling, MC Payment appoints new managing director and CFO
Once the new name is effective, the company intends to change the names of its subsidiaries in order to adopt a consistent identity and thereafter undertake a rebranding exercise.
The proposed name change is subject to the approval of shareholders by way of a special resolution to be tabled at the EGM. The company’s application to reserve the new name “OxPay Financial Limited” has been approved by ACRA on July 7, 2021 and has been reserved for 120 days from the date of ACRA’s approval and no further extension of name reservation will be allowed thereafter.