KUALA LUMPUR (Nov 15): INIX Technologies Holdings Bhd has clarified that it was under the impression from its auditor that it could submit its latest annual report to Bursa Malaysia without having the audited financial statements (AFS) signed off.

The company released its annual report for the financial year ended June 30, 2021 (FY21) on Nov 8, but later on Nov 11 said that its auditor, Messrs SBY Partners PLT, had not signed off the AFS.

INIX had planned to upload the signed-off version by Nov 12, but missed the deadline — again as the auditor still had not signed off the AFS as of then.

In a filing with Bursa Malaysia on Monday, in response to a query from the exchange on the matter, INIX said the final copy will now be uploaded later in the day (Nov 15).

Explaining the blunder over the release of the AFS, the company said: "The auditor delayed [signing off the AFS] as they indicated that their Engagement Quality Control Review had further queries of which the details of the queries were not divulged to the management until subsequent to the event."

In the response, INIX also explained the reason it uploaded the initial version on Nov 8.

"Based on our WhatsApp conversation with the audit partner of Messrs SBY Partners PLT on Nov 5, 2021, he had informed us that we could proceed to give the accounts to the printers for printing and issuing.

"Therefore, we were under the impression that the accounts were good for submission to Bursa Malaysia Securities Bhd. Subsequently on Nov 6, 2021, the audit partner provided us with an updated version which further implied that we could proceed," it said.

For FY21, INIX's net loss narrowed to RM4.25 million, from RM10.79 million in the previous year, as revenue rose 62.11% to RM9.92 million from RM6.12 million. The company is primarily involved in software development and system integration.

Trading of INIX's shares has been suspended from Monday following its failure to keep to its own deadline of Nov 12 to publish the signed-off annual report.

The counter last traded at nine sen, giving the group a market capitalisation of RM46.19 million.