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NewOcean Energy delays release of 2020 financial results; to be published by end June

01 Jun 2021

Hong Kong-listed NewOcean Energy Holdings Limited (NewOcean) on Monday (31 May) said it will be delaying the release of its 2020 financial results due to the COVID-19 pandemic and change of its auditors.

“As such, the publication of 2020 Annual Results and the despatch of the annual report of the Company for the year ended 31 December 2020 (the 2020 Annual Report) will be delayed,” it stated.

“Based on communication with the auditors of the Company, the Company expects that 2020 Annual Results will be published by 30 June 2021 and the 2020 Annual Report will be despatched by the 9 July 2021 subject to the latest development of COVID-19 pandemic in Mainland China, Macao, Malaysia and Singapore.”

NewOcean on 21 May appointed Crowe (HK) CPA Limited as its new auditors after the resignation of Deloitte Touche Tohmatsu.

The company, which includes bunkering operations as part of its business portfolio, on August 2020 recorded a USD 174 million loss for the first six months (1H) ending 30 June, 2020

Related: NewOcean appoints Crowe as new auditors; replaces Deloitte Touche Tohmatsu
RelatedNewOcean creditor scheme meeting dates at courts now ‘unrealistic’; delayed till further notice
RelatedNewOcean auditors resign due to significant outstanding documents & information
Related: NewOcean revises creditor scheme meeting dates at Hong Kong, Bermuda Courts due to ‘substantial’ amendments
Related: NewOcean records USD 304.3 million loss, portion of SG bunkering business to remain
Related: NewOcean Energy issues USD 304.8 million net loss warning ahead of FY 2020 results
Related: NewOcean proposal to adjourn court scheme meeting approved by creditors
Related: NewOcean creditors meeting application granted by Supreme Court of Bermuda
Related: NewOcean planning creditors meeting, foundation of debt restructuring plan laid out
Related: NewOcean records USD 174 million 1H 2020 loss; Singapore bunkering business remains
Related: NewOcean Energy publishes profit warning to shareholders ahead of 1H 2020 results
Related: NewOcean Energy records 66% bunker sales jump to 4.5 million mt in FY 2019


Photo credit: NewOcean Energy Holdings Limited
Published: 1 June, 2021

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