Suponiendo que tienes un fichero txt.txt en la ruta File.DirAssets,yo lo haria asi.
Sub Process_Globals
Type datos(codigo As Int,nombre As String,otros As String)
End Sub
Sub Activity_Create(FirstTime As Boolean)
Dim n As TextReader
Dim txt As String
Dim l As List
l.Initialize
n.Initialize(File.OpenInput(File.DirAssets,"txt.txt") )
txt = ""
Do While txt <> Null
txt = n.ReadLine
If txt <>Null Then
If txt <> "" Then
Dim dat As datos
dat = analiza(txt)
l.Add(dat)
End If
End If
Loop
For bucle = 0 To l.Size-1
Dim d As datos
d = l.Get(bucle)
Msgbox("Codigo: " & d.codigo & CRLF & "Nombre: " & d.nombre & CRLF & "Otros: " & d.otros,"")
Next
End Sub
Sub analiza(txt As String) As datos
Dim n As Int
Dim dat As datos
Dim ctrLetra As Int
n=0
For bucle = 0 To txt.Length -1
If txt.SubString2(bucle,bucle+1) = "|" Then
Select Case n
Case 0
dat.codigo = txt.SubString2(0,bucle)
n=1
ctrLetra = bucle +1
Case 1
dat.nombre = txt.SubString2(ctrLetra,bucle)
n=2
ctrLetra = bucle +1
Case 2
dat.otros = txt.SubString2(ctrLetra,bucle)
Return dat
End Select
End If
Next
End Sub
'Espero que te sirva.