Tan Sri Lim Siew Choon is now the single largest shareholder of WCT Holdings Bhd (WCT) after buying 19.7% stake from the company’s founders.

WCT Holdings Bhd – Shareholder Change

·         Tan Sri Lim Siew Choon is now the single largest shareholder of WCT Holdings Bhd (WCT) after buying 19.7% stake from the company’s founders.

·         While the actual impact on WCT’s credit profile remains uncertain at this stage, such development may encourage MARC to put on hold any plan of rating changes, thereby reducing the risks of an immediate downgrade, in our view.

·         Credit strategy: We think risk-reward is attractive after the recent sharp cheapening of WCT, buy on weakness.