KUALA LUMPUR (July 17): Handal Energy Bhd (KL:HANDAL) has postponed the release of its annual report for the financial period ended Dec 31, 2025 for the fifth time, forcing the cancellation of its adjourned 16th annual general meeting (AGM), which had been scheduled for July 23.
In an exchange filing, the group said it expects to issue and submit its annual report on or before Aug 7, 2026.
Consequently, the adjourned AGM, which was originally postponed from June 15, has been cancelled. New arrangements will be announced in due course.
Handal 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.
The change resulted in an 18-month reporting period covering July 1, 2024 to Dec 31, 2025. Handal said it would revert to a normal 12-month financial year ending Dec 31 thereafter.
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 face delisting procedures, in addition to any enforcement action by the exchange.
On July 16, Handal Energy said it and its subsidiary Handal Imro Sdn Bhd are being sued by Deepetro Offshore Brokers Pte Ltd for the failed delivery of cranes. Handal Imro was also served with a winding-up petition by Unity Force Sdn Bhd for allegedly failing to settle a payment amounting to RM233,811.
For the first quarter ended March 31, 2026, Handal Energy posted a net loss of RM0.4 million on revenue of RM5 million.
Shares of Handal Energy ended flat at one sen on Friday, giving it a market capitalisation of RM4.5 million.