Handal Energy Bhd has received approval from the Companies Commission of Malaysia (SSM) to extend the deadline for its 2024 Annual General Meeting (AGM) until December 31, 2024.

The extension request, submitted on February 28, was prompted by the company's shift in its financial year end from December 31 to June 30.

This alteration aims to enhance resource management for smoother business operations and financial reporting.

The ongoing financial year, commencing on January 1, 2023, will now conclude on June 30, 2024, covering an 18-month period.

Subsequently, the company's financial year will revert to the standard 12-month cycle, ending on June 30 for subsequent years.

Handal Energy shares remained unchanged at 8.5 sen today, reflecting a market capitalisation of RM29.97 million.