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BLT's Indonesian arm delays financial results

BLT's Indonesian arm delays financial results
Jakarta: Buana Listya Tama, the Indonesian-listed domestic arm of financially troubled Berlian Laju Tanker, is delaying the issuing of its financial results.

The Indonesian company said it was “experiencing considerable delay” in preparing its full year financial results for 2011. Buana Listya Tama said the delay was due the situation facing its parent company, which is currently undergoing debt restructuring resulting in the external auditor having to carry out additional work. It added that the restructuring had affected the valuation process of its vessels.

No date was given as to when the results would be released and the company simply it was “working hard to finalise its 2011 results as soon as possible.