(Aug 26): JES International Holdings, a once actively traded Chinese shipbuilder, has been under judicial management since February as it struggled with debt. It owes two major creditors $5.1 million and $2.2 million each. It no longer generates any revenue, yet incurred losses of RM313,000 ($103,627) in its most recent earnings report for the quarter ended Sept 30, 2018. An earlier attempt to restructure the company by acquiring Malaysian investment holding company Maya Asia Resources fell through in September 2017. The company’s shares, which traded as high as 78.5 cents in 2007, last traded at 2.6 cents. Trading has been suspended since 2015.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $4.99/month*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

SUBSCRIBE NOW