KUALA LUMPUR (Jan 14): Globetronics Technology Bhd (KL:GTRONIC) has appointed Ta Shun Dher as non-executive chairman effective Wednesday (Jan 14).

The company, meanwhile, redesignated executive chairman Liaw Way Gian to executive director.

Shun Dher, 38, is the son of the late Tan Sri Ta Kin Yan, founder of the Waz Lian Group and Majestic Gen Sdn Bhd. Together with his elder brother Ta Wee Dher, 39, they have steered Majestic Gen, a property developer known for its lifestyle-driven, community-focused and architecturally innovative projects, said Globetronics in a bourse filing.

The company said that during his tenure at IT Sea Holdings Sdn Bhd, Shun Dher oversaw rapid expansion across Southeast Asia, establishing more than 20 new operations in five years.

IT Sea Holdings’ portfolio spans diverse consumer sectors, including food and beverage through Bape Café, retailing Aape fashion products and distributing IT brand games and toys. The group also holds a 70% stake in Aape retail sales in Singapore and an associate interest in Thailand’s Infinite 23 Co Ltd.

Shun Dher owns 30.8 million shares in Globetronics, representing a 4.36% stake.

Separately, Globetronics said Francis Leong Seng Wui, who joined the board following the company's RM45 million investment in loss-making Mpire Global Bhd (now Greentronics Technology Bhd) (KL:GREENTEC) in July 2025, has resigned to pursue personal interests.

Leong’s exits follow earlier resignations in October and December 2025 from Hong Seng Consolidated Bhd (KL:HONGSENG) and Revenue Group Bhd (KL:REVENUE), where he served as executive director. Both counters are penny stocks with market capitalisations below RM50 million.

Following the exit of the Ng Kweng Chong family, Globetronics’ largest shareholders now are Ooi Keng Thye (10.89%) and APB Resources Bhd (KL:APB) (9.91%).

As at Sept 30, 2025, Globetronics reported cash holdings of RM32.59 million, down sharply from RM114.82 million a year earlier, following a series of investments. The company remains debt-free, with RM83.06 million in other investments and RM50.67 million in associates — typically defined as holdings of 20% to 50% voting power.

Globetronics’ share price has continued to slide since the Mpire investment in July 2025, compounding earlier losses triggered by its auditor’s resignation and institutional sell-offs in September 2024. The stock closed at 28.5 sen on Wednesday, its lowest level since April 2009, valuing the company at RM201.26 million.