Globavend Holdings Limited Announces Change in Controlling Shareholder and Board Composition

Globavend Holdings Limited has announced a significant change in its controlling shareholder and board composition. Central Master Enterprises Limited, owned by Mr. Tsz Ngo Yu (CFO) and Mr. Kai Man Fung (Director of a subsidiary), has acquired a majority of the company's voting power. In connection with this change, Mr. Kai Man Fung has been appointed as the new Chairman of the Board, while Mr. Tsz Ngo Yu will also serve as a director. Mr. Wai Yiu Yau will step down as Chairman but will remain CEO. Mr. Kin Fung Tsui has been appointed as an independent director. These changes are expected to leverage the new controlling shareholders' expertise in corporate finance and global business connections to pursue mergers, acquisitions, and expansion into new business lines. The company expressed gratitude to the outgoing director, Mr. Fan Cheung, for his contributions.