KUALA LUMPUR (July 28): LYC Healthcare Bhd (KL:LYC) said it might miss the July 31 deadline to issue its 2026 annual report, which will in turn result in the trading suspension of its shares.

In a filing, LYC Healthcare attributed the potential delay to the appointment of SBY Partners PLT as its new external auditor on March 6, following the resignation of Crowe Malaysia PLT on Feb 26 over a disagreement on audit fees.

The company said management requires additional time to work with SBY Partners to complete the audit, but expects to issue its FY2026 annual report and audited financial statements on or before Aug 7.

The annual report, which includes annual audited financial statements together with auditors’ and directors’ reports, is required to be issued within four months from the close of its financial year that ended March 31, 2026.

The suspension will be from Aug 10 until the group issues the annual report, the bourse filing showed on Tuesday.

Pursuant to the Main Market Listing Requirements of Bursa Malaysia, if LYC Healthcare fails to issue the annual report within six months from July 31, the bourse operator is to commence the de-listing procedures on the company. 

The company has been loss-making since FY2012. For the full year ended March 31, 2026, its net loss widened to RM23.27 million, from RM17.07 million in FY2025, as revenue dropped 13.7% to RM134.19 million, from RM155.52 million, its previous bourse filing showed.

The group’s accumulated losses stood at RM112.90 million as at end-March this year. 

It had cash and bank balances of RM17.47 million. On the other hand, its borrowings stood at RM73.3 million, with the bulk being redeemable preference shares. 

LYC Healthcare’s share price last traded at one sen on Monday, with a market capitalisation of RM7 million.