KUALA LUMPUR: Shares in Toyo Ventures Holdings Bhd fell over 18% in early trade as it cannot meet the Jan 31 deadline to release its annual report for the financial period ended Sept 30, 2021 (FY21).

       The counter tumbled 18.26%, or 21 sen to 94 sen at 9.27 am. In the past six months, it has fallen some 52%.

       Toyo Ventures said it cannot meet the Jan 31 deadline to release its FY21 annual report as it needs additional time to resolve outstanding issues.

       The company said it would endeavour to issue the annual report, that includes the annual audited financial statements, auditors' and directors' reports, no later than one month from the date.

       “The delay is due to the company requiring additional time to resolve some outstanding issues. The company is working closely with the external auditors to expedite the completion of the FY21 annual report as soon as possible before the end of February 2022," it said.