Reneuco fails to submit annual report

PETALING JAYA: Reneuco Bhd, which reported a massive impairment loss of RM133mil two months ago, has failed to submit its annual report for the financial period ended Sept 30, 2023 (FY23).

The loss-making company, formerly known as KPower Bhd, was supposed to submit the annual report within four months from the close of the financial year or Jan 31, 2024, to be exact.

“The delay in the issuance of Annual Report 2023 was mainly due to the additional time needed by the external auditors to complete its audit and the company wishes to provide more time for the external auditors to complete the audited financial statements for the financial period ended Sept 30, 2023.

“The company is working with the external auditors to finalise the audit expeditiously,” Reneuco said in a filing with Bursa Malaysia.

It expects to issue and submit its Annual Report 2023 by March 2024 although it is working towards the deadline on Feb 8.