Good poitns Timee and Baraka, I think FGE is not that far in the sh1t to a degree but the timing has hurt them. The banks see no reason to risk lending one or two hundred million more and market won't cough up as risk appetite for this sector has dropped.
FGE was always talked about by HC posters, analysts and brokers as one company in great stead to withstand downturn, great business model, vertically integrated, order book, divers skills etc so it is pretty fuked it is one of the first to hit the sh1t here.
How can the power contract blow out so much and the Directors have had no inkling of any problems until it was this bad??? Did some of the former De-sal plant managers get jobs at the power stations after June 30 and lose it by November?
I would love to talk to departed directors and senior managers to really get some insight.
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