MMM racks up more losses

Kuala Lumpur: As struggling Malaysian Merchant Marine (MMM) posts a RM5m loss its directors again cast doubt over the company’s future. MMM reported a loss for the first quarter ended 30 June of RM5.16m, with revenues of just RM288,000 for the period. “The company and the group are no longer viable operating concerns. The board is in discussions with several parties on the company’s future but is pessimistic that any of these discussions will lead to a fruitful conclusion,” MMM said. [31/08/10]