Ann: Company Secretary Appointment/Resignation , page-63

re: Ann: Company Secretary Appointment/Resign... Rich

I understand the Dr is rich and he got that way in China. A place where business is done a bit differently to here. I dont think I need to explain how it is different. Many rich Chinese and many Chinese companies have not been so successful when trying to transfer their businesses outside China, especially in mining. Australia and Africa both have examples of some of the disasters.

Winning work in places like Africa and South America is not easy. You need to understand the local culture, have good contacts, be competitive and have a good track record. And I dont see how VDM could possibly win work in these countries when they cant even win it here. How they would win the work an d then co ordinate labour from Chinese is even more difficult to manage. I have worked on setting up capabilities in foreign countries and it is very difficult, it takes years and I doubt VDM have months let alone years up their sleeve.

Rich, as you are aware, I have lost a fair bit on VDM so I do want to have the same blind faith you have, however the logic part of my brain just doesnt allow me to.

There has been little or no activity by VDM in winning new work that we are aware of.

Most of the good people they had on board have left ages ago and the crap that was left was swept under the carpet when the doctor arrived.

They are not looking to bring on new personnel in any of the Job Advertisements that you would expect to see.

The recent new additions to the team look pretty ordinary.. Mr Jakovich is Builder, but not a big player and the recent finance guy averages about 12 months in a role before he either moves on or the business is put in liquidaiton, as was the case in the last business.

The Dr has a wife that works for Citic, a company that has completely stuffed out a recent Autralian project.

What part of what VDM is doing is making you want to invest your life savings into this firm??? I simply dont get it.