KUALA LUMPUR (Sept 14): Johor princess Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar has resigned as executive director and deputy chairman of Techna-X Bhd (KL:TECHNAX) four days after joining the board.
Her resignation was due to personal commitments, according to Techna-X's bourse filing on Monday. She was appointed to the board last Thursday (Sept 10).
Tunku Kamariah’s son, Tengku Shahrain Shah Tengku Sulaiman Shah, also resigned from his post as independent and non-executive director on the same day, citing “personal commitments". He had been on Techna-X's board since July 2024.
Last Wednesday, Bursa Malaysia Securities publicly reprimanded Techna-X for failing to issue its annual report for the 18-month financial period ended Dec 31, 2025, by the April 30 deadline, as well as for inaccuracies in its previously announced unaudited financial results.
Techna-X, a company involved in restaurant operations and the provision of franchises that has largely been loss-making in the last five financial years, eventually issued its annual report on May 8 — five market days late.
Bursa said the delay was mainly due to the company failing to maintain or provide the necessary information, documents and accounting records to its external auditors in time to complete the audit.
The regulator also found that Techna-X's sixth quarterly report had not taken into account adjustments that were subsequently disclosed in May. The company had initially reported an unaudited loss attributable to owners of RM23.58 million, compared with an audited loss of RM29.26 million, a difference of RM5.68 million or 24.1%.
Bursa Securities then directed Techna-X to have its external auditors conduct limited reviews of its quarterly reports for four quarters, beginning no later than the quarter ending Sept 30, 2026.
The company's directors and relevant personnel were also required to undergo training on compliance with the Main Market Listing Requirements while the board was ordered to review the adequacy of its finance and accounting resources and financial reporting procedures.
The reprimand came shortly after Bursa queried Techna-X over its proposed RM45 million disposal of its 50% stake in Hong Kong-based battery maker HK Aerospace Beidou New Energy Technology Co Ltd (HKAB), following contradictory disclosures over the group's ownership of the stake.
Techna-X subsequently clarified that it remained the legal and beneficial owner of the 50% stake in HKABM after the purchaser under an earlier December 2025 sale agreement defaulted and the agreement was terminated on July 10 this year.
Shares of Techna-X slipped one sen or 22.22% to close at 3.5 sen on Monday, trimming the group's market capitalisation to RM10 million.