Zetrix AI board shrinks to three after four exit
KUALA LUMPUR: Zetrix AI Bhd has seen a major boardroom shake-up with four of its seven directors resigning within a month, leaving the embattled company with just three board members.
Zetrix AI Bhd, a troubled Malaysian company, has undergone a significant boardroom transformation, reducing its executive team to just three members after four directors resigned within a month. The latest resignations were announced by Datuk Othman Semail and Mohaini Mohd Yusof, who cited personal commitments as the reason for their departure from the board.
This left Zetrix AI without an audit committee, following the earlier resignation of the company's chairman, Wong Kok Chau, who stepped down from both his position as chairman and director three days earlier. Despite the drastic reduction in board members, the company remains led by group managing director Wong Thean Soon, also known as TS Wong, along with non-independent non-executive director Datuk Mohd Jimmy Wong Abdullah and Datuk Dr Norraesah Mohamad.
Wong, 57, has been part of the board since July 2018 when the company operated under the name MyEG Services Bhd. He also serves as an executive director and CEO of Excel Force MSC Bhd. Othman, 65, joined Zetrix in April 2025 and continues as an independent non-executive director for Jaks Resources Bhd. Mohaini, 59, had been on the board since July 2021 and also resigned from Cuscapi Bhd's board last month.
In late July, TS Wong sold approximately 103.6 million Cuscapi shares, representing an 11% stake, and ceased to be a substantial shareholder. As of 4:11 PM, Zetrix AI's share price plummeted by 18.8% to RM6.5, valuing the company at RM686.68 million. The stock has plummeted 92.1% year-to-date, erasing around RM6.10 billion in market capitalisation.
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