HB Global faces Nov 10 suspension as annual report delay looms
The auditor’s withdrawal and rejection of a financial year-end change have left the company expecting to miss its Oct 30 reporting deadline.
HB Global Ltd expects it cannot meet the Oct 30 deadline for its FY2026 annual report, putting its shares at risk of suspension from Nov 10. The Singapore-based company attributed the delay to its external auditor’s withdrawal and an unsuccessful bid to change its financial year end.
In a filing with Bursa Malaysia, the company said UHY Malaysia PLT’s withdrawal had disrupted audit work and preparation of the report covering the financial year ended June 30, 2026.
HB Global had applied to Singapore’s Accounting and Corporate Regulatory Authority (ACRA) to move its financial year end from June 30, 2026, to Nov 30, 2026. ACRA refused the application on Oct 20, then rejected an appeal on Oct 27, leaving the original deadline unchanged.
Bursa Malaysia Securities’ listing rules provide for suspension if the report remains unissued five market days after the deadline. Trading would restart on the market day following publication. Failure to submit the report within six months of the deadline could also prompt delisting proceedings.
The company said it was working with professional advisers on appointing suitable auditors and finishing the outstanding audit. It could not give a firm completion date, which would depend on audit arrangements and the work required to finish both the audit and annual report.
HB Global specialises in gourmet convenience food, focusing on ready-to-serve duck meat products. Its shares last traded at three sen, valuing the company at RM25.8 million.
