Financially troubled XOX Berhad has immediately announced the appointment of Datuk Kenneth Vun as its new Managing Director as the group navigated strategies to address its recent losses and financial troubles.
For three decades, Vun has helmed multiple businesses in diverse sectors from technology and finance to property development. He founded his first IT company FTEC which was listed u early 2000 but has since been delisted.
XOX Berhad said it is entering a transformative phase with the appointment which coincides with a significant investment by
VCAP Global Inc. Based on the notice VCAP Global Inc. acquired 15,000,000 ordinary shares on 25 February 2025, representing an 8.09% direct interest in the company.
The prepaid telecommunication company has been in the red for 2024 recording a loss of RM67 million, and started the year with quarterly losses of RM21 million.
