I don't know, I think at this point it is in everyone's interest that the new customer is genuine and provides a material financial uplift to Synlait.
I can't see why A2M would be worried about another large customer, provided that it does not impact Synlait's production quality and delivery of inventory. Apparently there have been production delays in the previous financial year, but it doesn't seem like this would have been due to the mystery customer because they are still nowhere in sight.
Having strong production demand from multiple customers and additional revenue seems like a much better scenario than the current one, where you might potentially have staff cuts and compromised production quality due to insufficient demand and financial turmoil.
A2M and Bright have the significant ownership stakes in this company, the mystery customer does not. If it is Abbott as has been speculated, they are also withdrawing from the China market since demand for their products collapsed following the contamination scandal. It doesn't exactly inspire confidence (hopefully it is someone else).
A2M Price at posting:
$4.31 Sentiment: Hold Disclosure: Held
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