HB Global founder Shen Hengbao resigns as CEO after 17 years
The food processor also missed its annual report deadline following its auditor’s withdrawal from the engagement.
HB Global Ltd said founder Shen Hengbao resigned as chief executive officer effective Oct 30, ending 17 years leading the China-based food processor. In a Bursa filing, the company said he would focus on responsibilities within its China operations.
Shen, 64, had headed the company since Oct 12, 2009. His industry experience spans more than 28 years in food processing and exports.
Separately, HB Global failed to meet the Oct 30 submission deadline for its annual report covering the financial year that ended June 30, 2026. The company said on Oct 27 that auditor UHY Malaysia PLT’s withdrawal had disrupted audit completion and work to finalise the report.
The company had sought approval from Singapore’s Accounting and Corporate Regulatory Authority (ACRA) to move its financial year-end to Nov 30, 2026, from June 30, 2026. ACRA rejected the application on Oct 20 and dismissed an appeal on Oct 27.
Shen now holds a 1.8% stake following share disposals over several years. He lost substantial shareholder status in July 2021 after his holding declined to 4.615%.
HB Global recorded revenue of RMB116.45 million and a net loss of RMB19.5 million for its 18-month reporting period ending June 30, 2026. Its shares finished at two sen, gaining 0.5 sen or 33.33%, giving it a market value of RM12.9 million. The stock’s year-to-date decline stood at 50%.
