Globetronics Addresses Resignation of Auditors, Highlights No Impact on Group’s Operations

Globetronics Confirms Seamless Operational Continuity Amid Auditor Change

PENANG, 10 SEPTEMBER 2024 – Globetronics Technology Bhd  ("GTB" or the “Group”), an established player in the Outsourced Semiconductor Assembly and Test (“OSAT”) and semiconductor industry wishes to announce that it has received a written notice dated 4 September 2024 from Messrs. KPMG PLT, expressing their voluntary resignation as Auditors of the Company. Pursuant to Section 281(2) of the Companies Act, 2016, KPMG PLT’s resignation will take effect 21 days after the notice, i.e., on 25 September 2024. This change is in line with the Group's new strategic direction, influenced by newly emerged shareholders and management.

The Management of GTB commented, "We extend our gratitude to KPMG for their long service and look forward to maintaining a positive relationship as we transition. It is important to note that the financial reports so far have not been audited by KPMG for this year, ensuring there is no impact on our financial integrity from this transition. We are actively enhancing our auditing processes to meet the highest standards of accuracy and transparency. Subsequently, we have shortlisted UHY Malaysia as our new auditor, pending the completion of official documentation to formalise the appointment and ensure consistency with our strategic objectives."

The Board of Directors (“The Board”) of Globetronics Technology Bhd would like to emphasise that this transition will not impact the operations of GTB. The Group remains focused on its business activities and will continue to meet all regulatory obligations during this period. The Board is confident that this change in auditors will ensure seamless continuity in the financial reporting process.

GTB remains committed to maintaining strong corporate governance and transparency for the benefit of all stakeholders.