The Board of Directors of Powerwell Holdings Berhad ("PHB") has approved the change in financial year end ("FYE") of PHB from 31 December to 31 March. The next audited financial statement shall be for a period of 15 months from 1 January 2020 to 31 March 2021 and thereafter, the FYE shall be 31 March. The rationale for the change of FYE is to avoid the peak financial reporting period in December and to provide adequate time for the newly appointed auditor to perform and complete the FYE audit.