KUALA LUMPUR (Aug 21): LYC Healthcare Bhd (KL:LYC) is targeting to issue its overdue annual report by Aug 28, blaming the delay on a disposed subsidiary.
External auditor SBY Partners PLT is in the final stages of auditing its financial statements for the year ended March 31, 2026 (FY2026), according to its response to an exchange query on Friday. Once the statements are approved by the board, the annual report will be released, LYC Healthcare noted.
Outstanding audit work includes figures relating to the disposed subsidiary, adjustments for leased assets and the accounting treatment of certain tax liabilities, LYC Healthcare said.
Shares of LYC Healthcare, which mainly runs postpartum care centres, have been suspended since Aug 10.
LYC Healthcare had initially expected to issue the report by Aug 7 after missing the original July 31 deadline. SBY Partners was appointed on March 6, following the resignation of Crowe Malaysia PLT on Feb 26 due to a disagreement over audit fees.
The delay was mainly due to “the inability to obtain timely access to the records and information” of Elite Dental Team Sdn Bhd after the subsidiary was sold off in December 2024, LYC Healthcare said.
SBY Partners also were not the auditors of Elite Dental during the reporting period, complicating efforts to complete the audit, the company added.