KUALA LUMPUR (April 1): Genting Hong Kong Ltd (Genting HK) has announced a delay in the cruise operator's 2021 audited annual results publication and 2021 annual report despatch as the company, which is contending with the impact of global Covid-19 pandemic-driven movement restrictions, has not yet completed the preparation of its financial statements for the year.

According to a filing with The Stock Exchange of Hong Kong Ltd on Thursday (March 31), as at the date of the announcement, the joint provisional liquidators (JPLs) of Genting HK were still assessing the financial status of the group.

"Due to changes in the group’s personnel, including the lack of an audit committee, as well as liquidity issues of the group, the company has not yet completed the preparation of its financial statements for the year ended Dec 31, 2021 and will not be able to publish the 2021 annual results on or before March 31, 2022 and will not be able to despatch the 2021 annual report on or before April 30, 2022.

"The delay in the publication of the 2021 annual results will constitute non-compliance with Rule 13.49(1) of the Listing Rules, and the delay in the despatch of the 2021 annual report will constitute non-compliance with Rule 13.46(2)(a) of the Listing Rules," Genting HK said.

Genting HK's JPLs comprise Edward Simon Middleton, Tiffany Wong Wing Sze and Edward Alexander Niles Whittaker, according to the filing.

According to the group, the appointments of the JPLs are for its "restructuring purposes only".

Genting HK said Rule 13.49(3) of the Listing Rules of the Hong Kong bourse provides that where an issuer is unable to issue its preliminary results, it must announce its results based on the financial results which have yet to be agreed with the auditor.

"As mentioned above, since the company has not yet completed the preparation of its financial statements for the year ended Dec 31, 2021, it is not able to announce its unaudited 2021 annual results at this stage.

"The company is taking the appropriate steps to resolve the issue(s) causing the delay in the publication of the 2021 annual results and the despatch of the 2021 annual report and to fully comply with the Listing Rules. Further announcement(s) will be made by the company as and when appropriate," Genting HK said.

Genting HK said an application was made with the Hong Kong stock exchange for the suspension of trading of its shares with effect from 9am on Jan 18, 2022 — and that the company's share trade will remain suspended until further notice.

"Shareholders, investors and potential investors of the company are advised to exercise caution when dealing in the securities in the company," Genting HK said.