Looks like they are skating on thin ice from a finance...

Looks like they are skating on thin ice from a finance perspective.....clearly demand in the skills training (and arguably the Aus business they sold probably will do very well over the next 2 years), but fine balance between cash coming in and expenses with no cash (including overdraft) to access.

Philippines seems to be in a confusing series of lockdowns so not sure how they are going to progress Clark in August, but I guess even a 50% realisation of the value will be something.........just not sure any major developers have the cash to close this out