board of directors, page-34

Sandy, I've got to say it but your dismissal of *** " a couple of directors on Nido's board that are only "ornaments on the shelf for "show" or in other words "try to appease certian people in the Philippnes, kissing butt".*** is, to say the least tragic.

My opinion is probably coloured by having spent a decade working in neighbouring developing countries. These countries are not devoid of skills, talent, ambition, commitment or any of the things valued in the (south) west. They are a bit lacking in capital, and what a marvelous opportunity that presents us to profit in their patch. We would be naive in the extreme to think we could function effectively as a very small junior without local involvement...