Handal gets extension till Dec 2024 to hold AGM

KUALA LUMPUR: Handal Energy Bhd has secured approval from the Companies Commission of Malaysia (CCM) for an extension of time until Dec 31, 2024 to hold its 2024 annual general meeting, in accordance with Section 340 of the Companies Act, 2016.

In a filing with Bursa Malaysia, Handal said the company received the approval from the CCM vide its letter on March 4.

For the 12 months ended Dec 31, 2023, Handal posted a net profit of RM3.2mil, or earnings per share of 1.25 sen on revenue of RM22.24mil.

On Feb 24, Handal announced the change in the financial year end from Dec 31 to June 30 to facilitate better management of resources for smooth flow of business operations and financial reporting.

The new financial year will commence from Jan 1, 2023 to June 30, 2024, covering 18 months. Thereafter, the financial year of the company shall revert to 12 months ending June 30 for each subsequent year.