Hong Kong-Listed NewOcean Energy Delays 2020 Results

by Ship & Bunker News Team
Tuesday June 1, 2021

Hong Kong-listed bunker supplier NewOcean Energy has postponed the publication of its 2020 results because of the impact of the COVID-19 pandemic and its auditors resigning.

The company now expects to publish its 2020 results by the end of this month, and its 2020 annual report by July 9, it said in an exchange filing on Monday.

"As a result of travel restrictions and quarantine policies implemented by various countries under the COVID-19 pandemic and coupled with the subsequent change in auditors, additional time is required for the audit of the consolidated financial statements of the Company for the year ended 31 December 2020," the company said in the filing.

Accountancy company Deloitte stepped down as NewOcean's auditor as of April 29 because of outstanding documents leading to the audit process being delayed.

The company has also postponed its annual general meeting, planned for June 4, to August 9 or before, it said.