Humpuss subsidiary declared bankrupt

Jakarta: A wholly-owned subsidiary of Indonesia-based Humpuss Intermoda Transportasi (HIT) succumbed to bankruptcy after defaulting on payment for chartered ships to Linsen International.

The Singapore-based subsidiary Humpuss Sea Transport (HST) was declared bankrupt following a ruling by the Singapore High Court on 20 January, HIT revealed in an announcement on Monday to the Indonesia Stock Exchange.

“Our company [HIT] has yet to receive a copy of the court ruling. We are studying the impact of (HST's bankruptcy) on HTI's consolidated revenue,” HIT said in a statement.

Shipping firm HIT, which transports oil, gas, coal and chemicals, is controlled by Hutomo “Tommy” Mandala Putra, the youngest son of the late Indonesian president Suharto.

Posted 10 February 2012

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

Seatrade Offshore Marine Workboats stacked

Seatrade Offshore Marine and Workboats Middle East

Madinat Jumeirah, Dubai • 23 – 24 September 2019

Join nearly 3,000 powerful personalities and alight at the meeting point for the global offshore marine, specialist vessel and workboat industry.

Exhibitor Opportunities >