HB Global challenges Singapore regulator’s rejection of year-end switch
The proposed move to Nov 30, 2026 would be the company’s second financial year-end revision this year.
HB Global Ltd has lodged an appeal after Singapore’s Accounting and Corporate Regulatory Authority (ACRA) refused its proposed financial year-end change, the company told Bursa Malaysia. It had sought a Nov 30, 2026 year-end rather than June 30, 2026.
The Singapore-incorporated food company said its application went to ACRA on Oct 15, with rejection following on Oct 20. Its appeal pointed to the loss of its audit arrangement and challenges meeting the reporting rules of both Singapore and Malaysia.
The company wanted additional time to organise an audit because UHY Malaysia PLT had withdrawn consent to serve as auditor. UHY Malaysia’s letter, dated Oct 12, identified regulatory, practical and professional considerations concerning the planned arrangement involving Singapore’s FOZL Assurance PAC.
An earlier change in April shifted the year-end from Dec 31, 2025 to June 30, 2026. HB Global said the latest proposal still needed ACRA’s approval, while its appeal remained unresolved. It said work on audit arrangements and reporting compliance would continue.
Revenue came to RM68.69 million over the 18-month reporting period ending June 30, 2026, alongside a net loss of RM11.2 million. The shares held at three sen, putting the company’s market value at RM25.8 million.
