MC Payment to change its name to OxPay Financial

CATALIST-listed digital payment services player MC Payment TVV will be known as OxPay Financial from Sept 7.

The company had earlier proposed to change its name "in order to signify the new direction of the group moving forward under its new management". The move was approved by shareholders in an extraordinary general meeting (EGM).

This follows the formation of the new board after the EGM on June 30 where Ching Chiat Kwong, chairman and chief executive 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," MC Payment said in a circular to shareholders in August.

Shares of MC Payment ended Friday at 34.5 Singapore cents, down half a cent or 1.4 per cent.