Hightrax,
Davies has solid experience and presumably good networks in Asia. I note they are forming local partnerships, generally with solid local companies and with small up front commitments.
No doubt the odd deal will go a bit sour, however I believe there is the diversity, the alignment and the risk management to ensure this is limited to the odd hiccup.
The IPO is no doubt intended to ensure no substantial AOE shareholder funds ever actually flow into any of these Asian projects.
Nevertheless Vietnam has a reputation in the sort of risks you fear!
EL
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