KUALA LUMPUR (Oct 21): Singapore's Accounting and Corporate Regulatory Authority (ACRA) has rejected HB Global Ltd’s (KL:HBGLOB) application to change its financial year-end from June 30, 2026 to Nov 30, 2026, following the withdrawal of its auditor’s consent to act.

In a Bursa Malaysia filing on Wednesday, the Singapore-incorporated company said ACRA rejected its application, submitted on Oct 15, on Oct 20. HB Global has since appealed, citing the withdrawal of its audit arrangement and difficulties in meeting financial reporting requirements in Singapore and Malaysia.

The proposed change was intended to give the one-stop gourmet convenience food specialist more time to arrange its audit after UHY Malaysia PLT withdrew its consent to act as auditor for the financial period ended June 30, 2026.

In a letter dated Oct 12, UHY Malaysia cited regulatory, practical and professional considerations involving the proposed audit arrangement with FOZL Assurance PAC in Singapore.

The proposed change would mark HB Global’s second financial year-end revision this year. In April, the company changed its financial year-end from Dec 31, 2025 to June 30, 2026.

HB Global said its appeal remains pending and the proposed change is subject to ACRA’s approval. It will continue to address its audit arrangements and comply with financial reporting requirements in Singapore and Malaysia.

For the 18-month period ended June 30, 2026, the company reported a net loss of RM11.2 million against RM68.69 million revenue.

The company's shares were unchanged at three sen on Wednesday, valuing the company at RM25.8 million.