BH Global

BH Global: Two vessels docked on a shipyard belonging to subsidiary PT BH Marine & Offshore Engineering in Batam Indonesia, had been reported to be stolen on 14 Jul. Total outstanding payment owed from repairs works and construction is at $2m. The vessels stolen R029, belongs to PT Andalan Mitra Bahari, has outstanding payment for repair works of $365k and H019, that is constructed for sale to PT Andalan, has an outstanding payment sum of $1.6m. The board reported that in the event both vessels are recovered, it is unlikely that there will be losses incurred by the company. At BH Global's last closing price of $0.149, the group trades at 0.85x P/B and reported a loss in FY12.