South Korean yard Dae Sun Shipbuilding & Engineering faces a delisting from the stock exchange after a recent loss on derivatives transactions. The company announced in a regulatory filing last Thursday that it made derivatives loss of KRW79.02bn ($72.55m) in both forward transaction and covered option, which corresponds to 3,123.4% compared with its equity. The yard revealed that while it cannot avoid delisting, the company's sales activity and shipbuilding operations are continuing as per normal. Dae Sun had seen revenues dropped to KRW300.9bn in 2009 from KRW329.1bn in 2008. The company is expected to release its full year 2010 results on 7 April.
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