In a statement, FSBM said Pang’s exit comes after he steered the company out of its Practice Note 17 (PN17) classification and restored its financial viability, Bernama reported.

Pang said he joined FSBM with a clear mandate to rescue the company and rebuild its credibility, adding that the mandate has now been fulfilled.

“I am handing over a company with its house fully in order.

“The accounts are reconciled, the PN17 status is resolved, and the governance framework is gradually restored,” he said.

Pang added that as the company’s business direction has evolved, it was appropriate for him to move on.

He said he wants to focus on areas where he can create the most direct impact.

“My conviction is to drive real-economy transformation by helping manufacturers move up the value chain through practical, scalable, artificial intelligence-powered technology and advanced data analytics.

“I am stepping away to ensure no dilution of focus in my pursuit of advancing Malaysia’s AI and digital ecosystem,” he said.

During his tenure, Pang transformed FBSM into a company specialising in smart manufacturing and AI-driven solutions.

“His leadership period included the upliftment of FSBM from PN17 status, marking the closure of a critical chapter in the group’s restructuring journey,” the company said.

During the transformation, FSBM’s smart manufacturing arm, FSBM MES Elite Sdn Bhd, received a special award for technology excellence at the Malaysia Smart Manufacturing Awards 2025, presented by former investment, trade and industry minister Tengku Zafrul Aziz.