Zetrix sidesteps sukuk repayment deadline as board exodus continues

Zetrix has moved to reassure stakeholders that it is not required to immediately repay outstanding amounts under its RM2 billion sukuk issuance, despite mounting internal upheaval at the company.

The clarification comes as multiple directors have recently stepped down from the company's board, prompting investor concern about the firm's operational stability and financial health. The departures mark the latest in a series of governance challenges facing the technology company.

Under the terms of its sukuk programme, Zetrix said the outstanding principal does not fall due for immediate repayment at this stage. However, the company did not provide details on the maturity timeline or conditions that could trigger accelerated repayment obligations.

The board resignations have intensified scrutiny of Zetrix's management amid broader questions about strategic direction. Industry analysts noted that such senior-level departures typically signal internal disagreements or concerns about company prospects, though Zetrix has not disclosed specific reasons for the exits.

The company is expected to provide further updates on its board composition and financial position in coming regulatory filings with Bursa Malaysia.