KUALA LUMPUR (June 12): Oil and gas services provider Handal Energy Bhd (KL:HANDAL), whose shares have been suspended from trading since May 11, has again postponed the issuance of its latest annual audited financial statements.
In a Bursa Malaysia filing on Friday, Handal said it now expects to issue and submit its Annual Report 2025, together with its audited financial statements, by June 26. The company did not provide a reason for the latest delay.
The extension marks the third time Handal has pushed back the release of the report since missing the original April 30 deadline, which led to the suspension of its shares from trading on May 11.
Handal had initially said on May 14 that it expected to issue the report by May 22. It subsequently deferred the target date to June 12 before extending it again to June 26.
Under Bursa Malaysia's listing requirements, a listed issuer that fails to issue its outstanding financial statements within six months after the expiry of the prescribed deadline may be subjected to delisting procedures, in addition to any enforcement action taken by the exchange.
Handal had previously attributed the delay to additional time needed to finalise its audited financial statements after changing its financial year end from June 30 to Dec 31, resulting in an 18-month reporting period from July 1, 2024 to Dec 31, 2025.
The company said it will revert to a normal 12-month financial year ending Dec 31 going forward. Handal's shares last traded at one sen, giving the company a market capitalisation of about RM4.5 million.
On the financial front, Handal has remained loss-making for 12 consecutive quarters. For the first quarter ended March 31, 2026 (1QFY2026), it posted a net loss of RM403,000 despite recording revenue of RM5 million.