SAIC Motor delays release of '08 financial report

Shanghai, March 18 (Gasgoo.com) SAIC Motor Corp recently said that it would delay the release of its 2008 earnings statement to April 28 from the previously scheduled March 30, according to Shanghai Securities Journals.

The change was caused by its South Korean subsidiary Ssangyong Motor's delay in announcing their annual financial report, for which a court administrator has been appointed.

Total sales of Ssangyong dropped to 2,369 units in February, down 69 percent from 7,732 units a year earlier. The South Korea automaker secured court receivership in February.