Foxlink's (2328) key subsidiary, P.I.E. Industrial Berhad, passes resolutions at AGM
Foxlink's key subsidiary, P.I.E. Industrial Berhad, held its AGM on May 22, 2026. Key resolutions passed include board compensation, reappointment of auditors, authorization for share issuance and buybacks, and plans for related-party transactions.
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- 📰 Published: May 23, 2026 at 06:31
- 🔍 Collected: May 23, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 23, 2026 at 06:37 (5 min after Collected)
Announcement Date: 1150523
Announcement Time: 1150522 222041
Company Code: 2328
Company Name: Foxlink
Subject: Announcement of resolutions passed at the shareholders' meeting of important subsidiary P.I.E. Industrial Berhad
Applicable Clause: Clause 18
Date of Occurrence: 1150522
Explanation:
1. Date of Annual General Meeting: 2026/05/22
2. Key Resolution 1, Surplus Distribution or Deficit Offset: None
3. Key Resolution 2, Articles of Incorporation Amendment: None
4. Key Resolution 3, Business Report and Financial Statements: Passed
5. Key Resolution 4, Director and Supervisor Election: Ms. Koay San San, Dato’ Heng Huck Lee, and Mr. Che Kian Yeap were re-elected as directors.
6. Key Resolution 5, Other Matters:
(1) Approved 2026 director compensation of 200,000 MYR;
(2) Approved non-executive director compensation of 120,000 MYR (ceiling) from 2026/05/23 until the next AGM;
(3) Approved 2024 director compensation of 90,000 MYR;
(4) Approved the reappointment of Messrs. Deloitte PLT as annual certifying accounting firm, with remuneration authorized to the board of directors;
(5) Approved authorization for the board of directors to issue new shares and execute according to relevant company law;
(6) Approved execution of share buyback;
(7) Approved the plan for recurrent related-party transactions.
7. Other matters: None
Announcement Time: 1150522 222041
Company Code: 2328
Company Name: Foxlink
Subject: Announcement of resolutions passed at the shareholders' meeting of important subsidiary P.I.E. Industrial Berhad
Applicable Clause: Clause 18
Date of Occurrence: 1150522
Explanation:
1. Date of Annual General Meeting: 2026/05/22
2. Key Resolution 1, Surplus Distribution or Deficit Offset: None
3. Key Resolution 2, Articles of Incorporation Amendment: None
4. Key Resolution 3, Business Report and Financial Statements: Passed
5. Key Resolution 4, Director and Supervisor Election: Ms. Koay San San, Dato’ Heng Huck Lee, and Mr. Che Kian Yeap were re-elected as directors.
6. Key Resolution 5, Other Matters:
(1) Approved 2026 director compensation of 200,000 MYR;
(2) Approved non-executive director compensation of 120,000 MYR (ceiling) from 2026/05/23 until the next AGM;
(3) Approved 2024 director compensation of 90,000 MYR;
(4) Approved the reappointment of Messrs. Deloitte PLT as annual certifying accounting firm, with remuneration authorized to the board of directors;
(5) Approved authorization for the board of directors to issue new shares and execute according to relevant company law;
(6) Approved execution of share buyback;
(7) Approved the plan for recurrent related-party transactions.
7. Other matters: None
FAQ
What were the results of the Foxlink subsidiary's AGM?
Resolutions included board compensation, auditor reappointment, authorization for share issuance and buybacks, and plans for related-party transactions.
Why was a share buyback included in the resolutions?
The authorization for share buybacks provides flexibility in capital management, which can be used to support stock price or improve capital efficiency.
What is the main business of P.I.E. Industrial Berhad?
As a key subsidiary of the Foxlink group, it is primarily engaged in the manufacturing and assembly of electronic components.