Mercator Lines (Singapore), the bust dry bulk operator, has had its application to publish quarterly results later than planned approved by the Singapore Exchange.
The company has been granted an extension till 30 November this year to announce its financial results for the previous financial year with the Indian line claiming it has insufficient funds to hire an accountant to prepare the financial statements as well as to engage auditors.
The line has been under court receivership in Singapore from early this year, saddled with large debts, sparking a fleet sell-off.