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Mercator updates on its operations in Indonesia

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Rejig of senior management causes temporary disruption of operations in Indonesia

Mercator updated on its operations in Indonesia -

(a) The senior management of its step down subsidiaries in Indonesia (the 'Indonesian Entities') has been changed by the Company which has led to temporary disruption of company's operations in Indonesia; and

(b)Certain proceedings have been filed by the Company in Singapore and Indonesia against some of the aforementioned erstwhile senior management of the Indonesian Entities who have in turn initiated various proceedings against some of its step down subsidiaries and some of their executives. The said litigations are presently sub judice at various forums;

(c)Disruption of the company's operations in Indonesia has led to non-receipt of limited review reports from the aforementioned Indonesian Entities which has in turn delayed the filing of the company's consolidated limited review report for the quarter ended 30 September 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 08 2017. 09:28 IST