Zetrix AI loses entire audit committee, most board members resign
Zetrix AI Bhd is facing a corporate crisis as its entire audit committee and a majority of its board members have resigned within a single month. The company's stock has plummeted over 90% in six months, and it is currently struggling with credit rating downgrades and leadership instability.
Why it matters
The mass exodus of board members and financial instability signals significant governance issues that threaten the company's viability and investor confidence.
BURSA SGX Home Highlight Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Oct 30): All three audit committee members of Zetrix AI Bhd (KL: ZETRIX ) and the majority of its board members resigned within a month, citing personal commitments.
The departure leaves the embattled company with only three directors remaining after four out of seven board members have resigned within a month.
Datuk Othman Semail and Mohaini Mohd Yusof resigned as members of the audit committee effective Thursday.
Othman and Mohaini also resigned as independent directors on the same day, according to filings with the Bursa Malaysia.
This came three days after Wong Kok Chau resigned as the chairman of the committee and independent director of the company.
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