Insolvent shipowner, Malaysian Merchant Marine (MMM), has claimed that it probably will not rebuild its business following huge losses. For the first quarter of 2010, MMM reported an unaudited net loss of US$33.3 million, with revenues of only US$375,000 million.
The company claimed it was at a standstill, with the future of the company looking untenable, reported Seatrade Asia.
