ID :
110991
Thu, 03/11/2010 - 13:39
Auther :

KRX suspends Kumho Industrial share trading on capital loss


SEOUL, March 10 (Yonhap) -- South Korea's bourse operator suspended Wednesday
trading of Kumho Industrial Co., the building unit of the financially troubled
Kumho Asiana Group, for impaired capital.

Shares of Kumho Industrial, which is currently under a debt-rescheduling program,
will be banned from trading on the Seoul main bourse until the company resolves
the loss of its entire capital, the Korea Exchange (KRX) said in a regulatory
filing.
Kumho Industrial posted 2.3 billion won (US$2 million) in net losses for 2009,
compared with 36.5 billion won in net profit the previous year.
The company is required to prove to the KRX that it will have repaired its
balance sheet, while failure to do so can lead to de-listing from the exchange,
the bourse operator said.
pbr@yna.co.kr
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