KUALA LUMPUR (Nov 7): Ho Hup Construction Co Bhd (KL:HOHUP) has submitted its annual report for 2025 by the Friday deadline, and its shares will therefore not face a suspension on Nov 10.

Bursa Securities confirmed the submission in a bourse filing on Friday, and noted there will be no suspension of Ho Hup’s securities on Nov 10.

The construction outfit initially missed its Oct 31 deadline to release the annual report, and was set a Nov 7 deadline for its submission or risk suspension of its securities.

At the time, the company said its annual report was in the final stages of completion and expected to meet the deadline.

In a separate bourse filing, Ho Hup’s external auditor flagged a material uncertainty related to the construction outfit’s ability to continue as a going concern, considering its net loss and capital deficiency for the financial year ended June 30, 2025 (FY2025).

UHY Malaysia PLT reported that for FY2025, the company posted a net loss of RM506.11 million and group net loss of RM447.37 million.

Amid the losses, the auditor underlined that Ho Hup’s current liabilities exceeded assets by RM315.2 million (company) and RM174.65 million (group), and capital deficiency of RM212.96 million (company) and RM174.65 million (group).

Together with Ho Hup’s Practice Note 17 (PN17) status, defaults on borrowings and a winding-up petition it faces, UHY Malaysia flagged its ability to continue as a going concern.

The external auditor noted Ho Hup’s ability to continue as a going concern will hinge on the continued protection of its restraining order against creditors, its regularisation plan, generation of sufficient cashflow to meet its obligations and continuous support from financial institutions and creditors.

“If these events are not forthcoming, the group and the company may be unable to realise their assets and discharge their liabilities in the normal course of business,” it said.

Back in April and June this year, Ho Hup filed an application to hold a court-convened creditors’ meeting to propose a scheme of arrangement to address its debt, coupled with a restraining order application to facilitate the process.

A temporary restraining order was granted pending a decision on Ho Hup’s application for a restraining order. A hearing has been fixed on Dec 3, 2025, for the hearing of two intervening applications.

Ho Hup fell into PN17 status earlier in April this year after its wholly owned Bukit Jalil Development Sdn Bhd defaulted on RM112.69 million in loan facilities, for which Ho Hup is the guarantor.

Shares in Ho Hup ended unchanged at four sen, valuing the company at RM20.73 million.