Staff costs are what they are - we're doing a lot more including in China, so can't really comment on that. FYI previous one was approx $1M.
What i found surprising is that they have 2 x loans with the main one ($1.5M) attracting a 1.25% per calendar month in interest = 15% annually - this is exhorbitant and well outside commercial terms when i can personally get an unsecured loan at between 5 - 8%. You'd think we'd be able to do better - even if it is short term.
Otherwise a good 4C.
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