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MMM unable to submit financial results

Kuala Lumpur: Insolvent Malaysian shipowner, Malaysian Merchant Marine, is unable to submit audited annual financial results to Bursa Malaysia as cannot by auditor fees. MMM said it was unable to give a timetable for its audited financial results until the issue of outstanding audit fees for 2009 and the payment of fees for 2010 was resolved. "The directors are deliberating on the next steps to take in regards to this matter and appropriate announcements will be made in due course," MMM told the Malaysian stock exchange. Meanwhile the Malaysian High Court has lifted an ex-parte injunction preventing the sale of the vessels MMM Dayton and MMM Kingston. [24/05/10]

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