Kuwait's Agility delays results

Kuwaiti logistics firm Agility will postpone the release of its 2009 financial results until April 11 as it tries to reach a settlement with the United States Government on a fraud case.

Agility, which had already delayed the results to April 6, said in a statement yesterday that it was waiting to see "whether or not it can resolve a legal dispute with the US government".

The company said that trading in its shares will continue to be halted.

Agility, formerly Public Warehousing, is in talks to resolve an indictment accusing it of overcharging the US Army on supply contracts in Iraq, Kuwait and Jordan.

Arabic language daily Al Qabas, citing unnamed sources, yesterday said if no settlement is reached by April 11, Agility will announce the results after making "enough provisions".

Kuwait has become a major logistics base for American forces.

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