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Kuwait's Agility Delays Results amid U.S. Talks - ASHARQ AL-AWSAT English Archive
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KUWAIT, (Reuters) – 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 U.S. government on a fraud case.

Agility, which had already delayed the results to April 6, said in a statement on Tuesday that it was waiting to see “whether or not it can resolve a legal dispute with the U.S. government.” It did not elaborate.

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

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

On Tuesday, the Arabic language daily al-Qabas, citing unnamed sources, said if no settlement is reached by April 11, Agility will announce the results after making “enough provisions.”

Kuwait, which was the launch pad for the U.S.-led invasion of Iraq in 2003. has become a major logistics base for American forces.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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