Pursuant to Rule 9.19(38) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of ZTIB wishes to announce that the Company's External Auditors, Messrs Morison LC PLT have expressed a qualified opinion with indication on material uncertainty related to going concern in the Company's Audited Financial Statements for the financial period ended 31 December 2025.
A. BASIS FOR QUALIFIED OPINIION
Please refer to the Appendix I for the details of the qualified opinion.
B. STEPS TAKEN OR PROPOSED TO BE TAKEN TO ADDRESS THE MATTERS THAT RELATES TO THE QUALIFIED OPINION
The Board wishes to announce that the Group will take the following steps to address the matters giving rise to the qualified opinion:
1. Disposal of Alpha Fintech
The Board emphasises that the divestment of Alpha Fintech Sdn. Bhd. was a strategic decision undertaken to safeguard the Group's interests by mitigating further financial losses and facilitating a timely exit from a non-performing investment. This decision reflects the Board's commitment to prudent portfolio management and value preservation.
2. Engagement of Independent Advisers
Where warranted, the Group will retain independent professional advisers, including legal and financial experts, to provide objective assessments and recommendations. These advisers will support the Board in evaluating the Group's position, identifying potential risks, and formulating appropriate remedial actions in the best interests of the Group and its stakeholders.
3. Ongoing Assessment and Implementation of Corrective Measures
The review process remains ongoing. Informed by preliminary findings, the Board is committed to executing all necessary corrective actions, including reinforcing internal controls, enhancing compliance protocols, and establishing robust mechanisms for continuous monitoring and improvement. These initiatives are focused on mitigating the risk of future irregularities and strengthening overall governance.
4. Recovery of Profit Guarantee
The Group is actively evaluating the recoverability of the profit guarantee receivable amounting to RM2,300,000. The Board will pursue all appropriate avenues to enforce the Group's contractual rights, including entering formal engagement with the vendor and, where necessary, initiating legal or other recovery proceedings.
5. Addressing Going Concern and Strengthening Financial Position
To address the material uncertainty relating to going concern, the Group has initiated and will continue to implement comprehensive financial and operational plans to enhance liquidity and strengthen its financial position. These measures include optimising cash flow management, rationalising non-performing assets, reducing operational expenditures, and prioritising core business activities. The Group is also actively assessing potential funding options and, if necessary, will continue to rely on financial support from directors to meet its obligations.
6. Future Investment Strategy
Looking ahead, the Group will adopt a more proactive and disciplined investment strategy. This includes further strengthening due diligence processes, refining investment evaluation frameworks, and ensuring that all future investments are fully aligned with the Group's risk appetite and long-term strategic objectives.
7. Enhancement of Governance and Internal Control Frameworks
The Board is resolutely committed to elevating the Group's governance standards. This will be achieved by implementing more stringent due diligence and investment evaluation procedures, rigorous documentation practices, and mandatory independent expert assessments for significant transactions. These steps are designed to promote accountability, transparency, and sustainable value creation for all stakeholders.
C. TIMELINE FOR THE STEPS
Barring any unforeseen circumstances, the Company expects to resolve the issue relating to the Qualified Opinion above within 12 months from the date of this announcement.
This announcement is dated 30 April 2026.