KUALA LUMPUR (Aug 6): Handal Energy Bhd (KL:HANDAL) has delayed the release of its annual report for the financial period ended Dec 31, 2025 yet again, pushing back its previously stated Aug 7 target.
In a Bursa Malaysia filing on Thursday, the oil and gas services provider said it now expects to issue and submit the annual report within six months from April 30, effectively giving it until the end of October.
The latest postponement follows five previous delays. Handal had said in July that it expected to issue the annual report on or before Aug 7.
The repeated delays resulted in the cancellation of the group’s adjourned 16th AGM, which was postponed from June 15 to July 23. A new date has yet to be announced.
Handal previously attributed the delay to additional time needed to finalise its audited financial statements following a change in 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. The company said it would subsequently revert to a normal 12-month financial year ending Dec 31.
The latest delay comes as Handal faces mounting challenges. Last month, the group said it and its subsidiary Handal Imro Sdn Bhd were sued by Deepetro Offshore Brokers Pte Ltd over the alleged failed delivery of cranes. Handal Imro was also served with a winding-up petition by Unity Force Sdn Bhd over an alleged unpaid sum of RM233,811.
Handal has remained loss-making for 12 consecutive quarters. For the first quarter ended March 31, 2026, it posted a net loss of RM403,000 on revenue of RM5 million.
Trading in Handal’s shares has been suspended since May 11 after the company failed to submit the annual report within Bursa Malaysia’s stipulated timeframe.
Under Bursa Malaysia’s listing requirements, a listed issuer that fails to issue its outstanding financial statements within six months after the prescribed deadline may face delisting procedures, in addition to enforcement action by the exchange.