Korea's Hanjin Heavy Industries has had trading in its shares suspended due to "capital erosion."
The group's Philippines yard HHIC-Phil filed for court rehabilitation in January and Hanjin said there had been a related impairment made in its accounts.
It risks delisting in Seoul if it cannot improve its financial standing.
The company has until 1 April to submit a plan to achieve this.
Its net loss for 2018 rose to KRW 1.32 trillion ($1.18bn), against KRW 278bn a year earlier, partly due to losses from HHIC-Phil.
Bloomberg reported that main creditor Korea Development Bank (KDB) said it will do its best to resolve uncertainty over the group.
It has guaranteed $410m of debt in default owed by HHIC-Phil.
Revenue was up 3% at KRW 1.69 trillion, while operating profit was KRW 61.8bn, from a loss of KRW 1.9bn a year ago.
Hanjin said its financial status will improve in future due to debt-for-equity swaps with creditors including state-run KDB.
The group has been selling non-core assets since 2016 as part of a restructuring drive.
