Success Dragon aims to rebrand as ezBlock Capital

Oct 29, 2018 Newsdesk Latest News, Macau, Top of the deck  

---

Gaming services company Success Dragon International Holdings Ltd announced its intention to change the English name of the company to ezBlock Capital International Holdings Ltd, as part of an effort to “rebuilding its information technology services business.”

The firm’s name in Chinese is also to change, according to the proposal.

“The board considers that the proposed change of company name can promote and strengthen the company’s corporate image and enable the group to better identify and obtain business opportunities for its future development,” stated Success Dragon in a filing to the Hong Kong Stock Exchange on Friday.

The firm had announced earlier this year it was exploring possibilities of applying blockchain technologies to its business operations.

“The group wishes to form strategic partnership with and invest tactically into leading fintech companies, and to realign its resources in rebuilding its information technology services business,” Success Dragon stated in its Friday filing. “As such, the board is of the view that the change of company name is in the best interests of the company and the shareholders of the company as a whole.”

The proposed change of name needs approval from the company’s shareholders.

This is the firm’s second change of name in three years. The group was previously called CY Foundation Group Ltd but it changed name to Success Dragon in 2015.

Success Dragon’s main business activity has been managing slot machines in the Macau market. The company reported a loss of nearly HKD130.7 million (US$16.7 million) for the financial year ending March 31.

In September, the firm completed a placing-out of 292.61 million shares, raising HKD68.8 million net.

---

---