Published: Tuesday April 30, 2013 MYT 2:09:00 PM

HB Global to issue audited financial statement by May 7

KUALA LUMPUR: HB Global Ltd, formerly known as Sozo Global Ltd, expects to issue its audited financial statement for FY ended Dec 31, 2012 (AFS 2012) on or before May 7.

The company said on Tuesday the issuance of the AFS 2012 would be delayed as the audit was still in progress.

"The auditors require additional time to further clarify with the company and/or any other relevant authorities in relation to their audit process," it said.

The deadline for the issuance of the AFS 2012 together with the auditors' and directors' reports to Bursa Securities for public release was on Tuesday -- four months from the close of the financial year.

HB Global said under paragraph 9.23(2) of the Listing Requirements of Bursa Malaysia Securities Bhd, if the company fails to issue the outstanding AFS 2012 on May 8, trading of its securities would be suspended on May 9.

The suspension excluded any enforcement action that Bursa Securities might take against the company.

In the fourth quarter ended Dec 31, 2012, its net profit fell to RM6.26mil from RM19.08mil a year ago. For FY12, its net profit shrunk to RM26.11mil from RM109.65mil in FY11.

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