KUALA LUMPUR: Reneuco Bhd shares plummeted to an all-time low of 3.5 sen today (Feb 7), with just one day remaining before the company's February 8 deadline to unveil its most recent annual report.
Reneuco was the top active stock, with 212.58 million shares changing hands as at 12.30 PM.
The stock has lost 75 per cent of market capitalisation since the start of the year and is currently valued at RM61.7 million.
Previously, Bursa Malaysia had said in an announcement that it would suspend trading in Reneuco's securities on Feb 9 if it failed to submit its annual report for the financial year ended Sept 30, 2023 by Feb 8 this year.
The company's accounts have been in focus, following an impairment loss of RM132.53 million in its quarter ended September which brought its quarterly net loss to RM125.05 million.
Concurrently, the company changed its financial year end to September from June.
It also changed its name twice in the last four years. It was first called Kumpulan Powernet Bhd before changing its name to KPower Bhd.
In January, Reneuco said it was unable to release the annual report within the stipulated time frame as its external auditor needed more time to complete its audit.
It added that it was "working towards" the Feb 8 deadline to avoid a suspension in the trading of its shares.