XOX Bhd: Leadership Commitment to Transformation Amidst Scrutiny

KUALA LUMPUR, May 20, 2025 — XOX Bhd, a Malaysian company listed on Bursa Malaysia, is undergoing a significant transformation under the leadership of its managing director, Datuk Kenneth Vun. Amidst recent media scrutiny over his past controversies, Vun has reaffirmed his commitment to transparency, governance reform, and the long-term creation of stakeholder value.

Addressing Past Controversies

Vun, who previously faced regulatory issues related to his role as founder of FTEC Resources Bhd, has acknowledged the scrutiny that accompanies leadership. He emphasized that all past regulatory matters have been addressed and resolved. “My past is part of my journey, and I do not shy away from it,” Vun stated. He is now leading with deeper conviction, insight, and a strong sense of responsibility.

Strategic Transformation

Under Vun’s strategic direction, XOX is transitioning from its traditional operations into a high-growth, next-generation digital platform. This transformation is anchored by key growth pillars, including the integration of artificial intelligence, fintech solutions, and consumer data monetization. Vun emphasized that the focus must remain on execution, transformation, and building a future for the company, investors, and stakeholders.

Financial Overview

As of May 14, 2025, XOX Bhd’s close price was 0.395 MYR, with a 52-week high of 0.605 MYR and a low of 0.15 MYR. The company has a market capitalization of 71,400,000 MYR and a price-earnings ratio of -4.73, indicating its current financial challenges. Despite these challenges, the company is committed to driving sustainable growth and enhancing enterprise value.

Conclusion

XOX Bhd is at a pivotal point in its corporate journey, with Vun at the helm steering the company towards a future-focused transformation. The commitment to good governance and strategic restructuring aims to position XOX as a leader in the evolving digital landscape.