KUALA LUMPUR (Oct 17): HB Global Ltd dipped as much as 0.5 sen or 7.14% to 6.5 sen after its shares resumed trading this morning following submission of the frozen food producer's annual report for financial year ended December 31, 2013 (FY13).

At 10.08am, HB saw 1.11 million shares done. HB's share trade was suspended since September 11 this year due to the delay in submitting its annual report.

In a Bursa Malaysia announcement yesterday, HB said the delay was due to a change in its external auditors.

According to HB's annual report, the firm posted a wider net loss of 51.4 million yuan (RM26.3 million) on revenue of 377.9 million yuan in FY13.

The company attributed the loss to lower sales of ready-to-serve products. HB said sales fell due to the bird flu outbreak in China.

Going forward, HB expects to set up six new commercial duck farms, of which two farms are scheduled to be completed by December this year.

Both farms are expected to start operations in the first quarter of 2015.

HB foresees the operating environment to remain challenging and is expecting higher operational and fixed costs as it kick-starts the duck farms operations.

"In order to meet the challenges ahead, enhancing operational efficiency, innovative invention and stringent cost control remain the primary focus of the group to maintain its bottom line profit margin," HB said.