Trencor faces JSE suspension in fallout from Hanjin Shipping bankruptcy
Trencor, which operates marine cargo containers, could be suspended from the JSE if it fails to publish its interim results report by October 31, the bourse said. The company said it expected to report a loss for the six months to June, and delayed its interim report after Hanjin Shipping Company, the South Korean container carrier with which it has links, filed for bankruptcy. It hoped to report its results on or before October 21. Trencor has a 48.2% stake in Textainer, and Hanjin made up almost 5% of Textainer Group Holdings’ total carrying capacity. "Currently, great uncertainty exists in relation to the potential recovery of the underlying container fleet on lease to Hanjin and an estimate of its financial effect cannot at present be made," the company said. The JSE said Trencor’s stock could be suspended or removed from the exchange if the company failed to publish its interim report by the end of this month. Trencor failed to submit its report by the end of September as stipu...
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