Shareholders Unanimously Endorse Strategic Initiatives, Rebranding, and Governance Enhancements

PETALING JAYA, MALAYSIA / ACCESSWIRE / December 19, 2024 / Sunzen Group Berhad ("Sunzen" or "the Group"), formally known as Sunzen Biotech Berhad and an established player in Malaysia's health, medical devices and services, and finance sector with a diversified portfolio, successfully concluded its Nineteenth Annual General Meeting ("19th AGM") held at Kota Permai Golf & Country Club, Shah Alam. The AGM saw strong shareholder participation and approval of all resolutions tabled, marking a pivotal milestone for the Group as it continues to deliver value to its stakeholders.

Sunzen Group Berhad

Among the key resolutions approved was the Directors' fees and benefits for the extended financial period of 1 January 2024 to 30 June 2025, reflecting the Board's commitment to fostering a high level of governance and oversight. Shareholders also approved the re-election of three directors, namely Mr. Ching Chee Pun, Mr. Lee Yew Weng, and Puan Aida Lim Binti Abdullah, ensuring continuity in leadership and strategic direction for Sunzen.

In a landmark decision, shareholders approved a special resolution to rename the company from "Sunzen Biotech Berhad" to "Sunzen Group Berhad." This rebranding signals the Group's evolution into a diversified entity encompassing health, medical devices and services, and loan financing, while maintaining its commitment to meeting customer needs and demands over the long term.

The AGM further underscored the Group's commitment to sustainable growth with the renewal of the general mandate for share issuance under Section 75 of the Companies Act 2016. This mandate empowers the Board to issue shares of up to 10% of the Group's issued capital to support future strategic initiatives, including working capital, investments, and acquisitions, without the need for a separate general meeting.

Another resolution passed was the renewal of the Group's authority to purchase up to 10% of its issued shares. This move reflects Sunzen's proactive capital management strategy to enhance shareholder value. The Group also obtained shareholder approval for the continuation of Mr. Khoo Kien Hoe as an Independent Non-Executive Director, recognising his invaluable contributions and extensive experience.

Speaking at the AGM, Group Managing Director of Sunzen Group Berhad, Mr. Teo Yek Ming expressed his gratitude to the shareholders for their unwavering support. He commented, "The approval of these resolutions marks a new milestone for Sunzen as we align our strategies to capitalise on emerging opportunities. The adoption of the new name, Sunzen Group Berhad, symbolises our growth beyond the biotechnology sector, positioning us as a multifaceted organisation ready to deliver greater value to our shareholders."

"The Group will continually explore new opportunities across various industries, aiming to establish individual ecosystems within the fields of health and wellness products, medical devices and services, as well as loan financing, striving to become a sustainable and long-term enterprise." Mr. Teo added.

As Sunzen embarks on its next phase of growth, the Group remains committed to operational excellence and sustainable business practices, ensuring long-term profitability while navigating a dynamic business environment.

ABOUT SUNZEN GROUP BERHAD

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Sunzen Group Berhad

For more information, please contact:

Jazzmin Wan
Email: j.wan@swanconsultancy.biz
William Yeo
Email: w.yeo@swanconsultancy.biz