ready to run, page-43

###negatives
1. looks like most of $613m VCS capital is a write-off###

The company states:


""We recently announced that three projects of one of our VCS customers, Petrac, had gone into
receivership. We have investments in a further eight Petrac projects and we view the
recoverability of our capital from these projects as being at serious risk. Our total investment in
these projects is A$76.2 million.
Difficulties are being experienced elsewhere in the VCS business and we expect the portfolio is further impaired post balance date.
We are working the VCS positions extremely hard with a clear strategy of achieving realisations
where possible"""
------------

So clearly there is a considerable loss being forecasted, but I don't think the entire investment of $613 million is at risk.
There is enough evidence to suggest that they are in a reasonably solid position to see this through, so we can't ask for more than that at this stage ;-)

My apologies to Fredick, who said "they have so far done heaps of dough" (in relation to VCS).............it appears you were correct in your comment.
But the selling was obviously way over done.
Cheers.