KUALA LUMPUR (Nov 1): Techna-X Bhd (KL:TECHNA) now has until Nov 7 to submit its outstanding annual report for the financial period ended June 30, 2024, failing which the trading of its securities will be suspended the following day.
The Main Market-listed company has failed to submit the annual report — including its annual audited financial statements, as well as the auditors’ and directors’ reports — to Bursa Malaysia Securities for public release within the stipulated timeframe on Oct 31.
When Techna-X announced via a bourse filing on Oct 29 that it would not be able to release its annual report by Oct 31, it did not disclose the reason why.
For the 18 months ended June 30, 2024, Techna-X posted an unaudited net loss of RM17.69 million on a revenue of RM94.6 million, based on its latest results filings. There were no comparative figures, as its financial year end for the period had been changed from Dec 31, 2023 to June 30, 2024.
Last month, Techna-X had called off plans to develop an 85-acre microalgae farm and produce algae biofuel, following the mutual termination of a tripartite agreement with MYKO Global Sdn Bhd and RTA E&C Sdn Bhd. The project, first announced in June 2023, would have involved a US$120 million (RM577.4 million) investment from Techna-X.
According to Bloomberg data, Techna-X’s substantial shareholders are GIP Work Sdn Bhd with a 6.36% stake, and Rock Point Alliance Pte Ltd, an investment vehicle of its executive chairman Tunku Naquiyuddin Tuanku Ja’afar, with a 5.9% stake. Tunku Naquiyuddin is the son of former Negeri Sembilan menteri besar Tuanku Jaafar Tuanku Abdul Rahman.
Shares of Techna-X closed up half a sen or 4.35% at 12 sen on Friday, giving it a market capitalisation of RM27.8 million.