This article first appeared in The Edge Malaysia Weekly on November 2, 2026 - November 8, 2026
The mass exit of Zetrix AI Bhd’s (KL:ZETRIX) three independent directors last week marks the total departure of all four of the group’s independent directors in less than three weeks, leaving behind only three executive directors on its once seven-member board.
Wong Kok Chau, Datuk Othman Semail and Mohaini Mohd Yusof quit between Oct 26 and 29, following the resignation of Datuk Seri Mohd Mokhtar Mohd Shariff earlier on Oct 12. All cited “personal commitments” as the reason for leaving, according to the group’s filings.
Their departure has effectively dissolved two of the group’s key oversight bodies — the audit and remuneration committees — while crippling its risk and nomination committees.
Independent directors, by virtue of the fact that they have no business ties to the group, are meant to provide objective oversight, manage executive conflicts of interest, and ultimately protect minority shareholder rights. They serve as an essential internal alarm and circuit breaker before disaster strikes.
The exodus at Zetrix leaves an oversight vacuum amid a critical juncture for the group, which is facing investigations, including by the police. They come after the group failed to remit RM314 million it collected as an agent of the Road Transport Department, resulting in the suspension of its core revenue-generating business activities. In addition, a key covenant of its RM2 billion sukuk has been breached, triggering a dissolution event, though Zetrix has not been required to immediately repay the full outstanding amount.
If the resignations are intended to be a principled stand against management’s handling of the current crisis, isn’t this too little, too late? And the timing of the departure ultimately leaves retail investors to deal with the fallout without any independent oversight.
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