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MMM expects to finally complete accounts audit in 2011

Kuala Lumpur: Insolvent Malaysian shipowner Malaysia Merchant Marine (MMM) says it finally expects to submit audited results for the year ending 31 March 2010, in January next year.

The audit by Ernst & Young only started in August as the company had failed to pay the fees for the previous year's audit. Due to lack of funds the executive deputy chairman of the firm paid the deposit for the audit personally.  [19/11/10]

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