JAKARTA (Yosefardi) – The Indonesia Stock Exchange (IDX) halted trading in shares of shipping company PT Buana Listya Tama Tbk (BULL) on Thursday (November 27) on concern over the company’s debt restructuring.
BULL is now restructuring its debt to Merrill Lynch (Asia Paficic) Limited.
The company suffered loss of US$41.67 million in 2013, expanded from loss US$3.88 million in previous year. Revenue dropped 32% to US$47.4 million from previous US$69.8 million. Its assets totaled US$256 million while liability amounted US$154 million.