KUALA LUMPUR (Nov 3): Datuk Ng Chee Siong has been appointed executive director of ready-to-serve food company HB Global Ltd (KL:HBGLOB), while the company’s chief financial officer (CFO), Lim Yong Hwa, has resigned amid a delay in issuing its 2025 annual report.
Ng is co-founder of Revenue Group Bhd, now known as Revenue IF Bhd (KL:REVENUE), and its former managing director, a post he left in 2023. Ng is not listed as a shareholder of the company.
Lim, 55, who joined HB Global on June 3, 2026, resigned effective Nov 2 to pursue personal commitments, according to a filing with Bursa Malaysia on Tuesday.
His departure follows that of founder and chief executive officer Shen Hengbao, 64, who stepped down on Oct 30, 2026, after 17 years at the helm to focus on the group’s China operations.
The announcements come as HB Global said on Oct 27 that it would miss the Oct 30, 2026 deadline to issue its annual report for the financial year ended June 30, 2026, after its auditor, UHY Malaysia PLT, withdrew from the appointment.
The company’s application to change its financial year-end from June 30 to Nov 30 was also rejected by Singapore’s Accounting and Corporate Regulatory Authority, as was its subsequent appeal. In April, the company had changed its financial year-end from Dec 31, 2025 to June 30, 2026.
Failure to publish the annual report by Nov 6 will result in a trading suspension from the next market day, Nov 10. Failure to submit the report within six months of the original deadline could trigger delisting proceedings.
The company said it is working to appoint a new auditor and complete the outstanding audit but has yet to determine when the annual report will be released.
HB Global, which has no substantial shareholders, counted How Kok Seng as its largest shareholder with a 4.9553% stake as at March 26, 2025, followed by Low Su-Ming with 4.7771% and Low Gee Soon with 3.8044%.
HB Global’s shares were trading at two sen, valuing the company at RM17.2 million. The stock is down 50% year to date.